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Wall Street Legacy: How Merrill Lynch Opened for Business at 7 Wall Street on January 6, 1914
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On January 6, 1914, Charles E. Merrill opened Charles E. Merrill & Co. at 7 Wall Street, launching a firm that would become a powerhouse in finance. In this installment of This Week in Wall Street History, Todd M. Schoenberger tells the story of Merrill’s bold vision to democratize investing, the early partnership with Edmund C. Lynch, and how the firm evolved through mergers, innovations like the Cash Management Account, and international expansion. Today, as part of Bank of America’s Merrill division, it manages over $2.8 trillion in client assets and remains a leading force in wealth management.
From a single office on Wall Street to managing trillions—Merrill Lynch’s journey reflects how markets evolved. Subscribe to CrossCheck Media for historical episodes that frame today’s financial landscape.
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