Merrill Lynch Turns 100 - 5 Core Principles That Led It This Far

On January 6 Merrill Lynch will celebrate its 100 year anniversary. Former Chairman of Merrill Lynch International and son of one of ML's founders, Winthrop H. Smith Jr. reflects on its colorful history.
January 02, 2014

Integrity


You have got to be honest. It's not only morally right, it's good business practice.

Like many in its industry, Merrill Lynch has made their fair share of mistakes. Failing to do their due diligence, poor investments, and so on. Admitting that you've goofed, and then correcting it to make clients whole is what it means to have total integrity. "Own up and move forward," he concludes. "The principle of not doing anything you can't read about the next day is simple but also powerful."

The first history of Merrill Lynch, Catching Lightning in a Bottle: How Merrill Lynch Revolutionized the Financial World, by Win Smith can be purchased here.

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