At Merrill Lynch, there was no doubt about it: Edson Mitchell was a star. Largely under his direction, the investment bank’s fixed-income division leapt from nowhere in the 1980s to become the number one global player. Using swaps and derivatives talent hired from JP Morgan and Morgan Stanley, Merrill surprised its competitors by becoming one of the most creative and innovative players on Wall Street. By 1995, the charismatic Mitchell was said to be in command of a $1 billion revenue stream – the driving force behind Merrill’s international expansion in recent years.
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