Komansky makes O’Neal his heir
David Komansky doesn’t step down as Merrill Lynch’s CEO until 2004 but he has recognized that his most important remaining task is to engineer a smooth succession. With the sector seemingly moving into a deep downturn this is all the more important. Antony Currie reports on the emergence of Stan O’Neal as Komansky’s anointed successor.
A murder on Madison Avenue
Euromoney August 2001
"...Twelve days after Wheat was sacked, Merrill announced that Stan O'Neal, head of the firm's private-client business, was the anointed successor..."
Jeff Peek: Peek-a-boo-hoo
In times of crisis, maintaining stability is crucial. Not at Merrill Lynch, it seems. Two weeks after the attacks on the World Trade Centre which forced Merrill to evacuate its headquarters for the foreseeable future, the new regime has seen fit to dispose of Jeff Peek, president of Merrill Lynch Investment Managers.
"It's being presented as a resignation, but it is clear there was no place for Peek after he lost out to Stan O'Neal in the race to be president and COO, and thereby heir apparent to the CEO."
"Speculation about Komansky's future has been rife since he announced the appointment of Stan O'Neal as president and COO. Almost immediately, say insiders, Komansky started taking a back seat, allowing O'Neal to restructure the firm as he saw fit"
Seeking the new model
Last year Merrill Lynch looked like an outlier. Its new senior executives under president Stan O'Neal looked at some of the budgets being put forward by business heads and decided that they were simply unrealistic - that their authors had wrongly assumed that stock markets would soon recover their highs and investment banking activity and revenues would follow.
What price a date with Stan O'Neal?
How much would you pay to dine with your CEO? Too much and you'll be seen as a creep, too little and you can wave goodbye to that promotion. That's the quandary facing Merrill Lynchers, who can bid for a tête-á-tête with Stan O'Neal - CEO in waiting.
More slices, but how big’s the pie?
After much talk over the years about wanting to be a top-tier player, Merrill is finally putting money where its mouth is, but has yet to achieve the success it's aiming for.
Here comes Merrill again
Not for the first time, Merrill Lynch is making a push into forex. While the competitors sit back and wait for it to fail, Merrill insists that it will become a top-ranking firm.
Wall Street meets Sesame Street
Euromoney October 2003
Talk about getting them when they're young. Merrill Lynch has joined forces with Elmo and the Cookie Monster to develop a "financial fitness" curriculum aimed at children between the ages of two and six.
Merrill shrugs off the herd mentality
Euromoney August 2004
There is no room for nostalgia in the new-look Merrill Lynch.
MLIM goes back to its roots
Inside Investment: Merril and BlackRock - Rocking and reeling
What does Merrill Lynch’s $9.8 billion BlackRock deal mean for the European asset management industry?
How Stan O’Neal went from the production line to the front line of investment banking
Global Best Investment Bank: Merrill Lynch
Under Stan O’Neal’s leadership, Merrill is back as a force to be reckoned with in investment banking.
Global Best CDO house: Merrill Lynch
Stan O'Neal has spent a number of years fighting off cynics who labelled him merely a cost-cutter and not the man to rebuild the thundering herd.
31 Aug: Merrill's reshuffle, Rohatyn adds gravitas to Lehman
August 2006
7 Sep: 6 degrees; IMF; personal hygiene guide
September 2006
Apples and shuffles
November 2006
A tale of two Stans
November 2006
Greed, moral compasses and stock options
November 2006
Abigail’s Awards for 2006
December 2006
The Champions League of investment banking:
Ossie Grubel of Credit Suisse, Josef Ackermann of Deutsche Bank and Stan O’Neal of Merrill Lynch will also have made their supporters happy.
Which bank CEOs deliver the best returns for shareholders?
O’Neal is the man who rescued Merrill Lynch from its dark days at the turn of the century, and his job is safe in the medium term. But will shareholders start to protest if its share price continues to lag behind the likes of Lehman and Goldman?
Stan O’Neal’s legacy to Merrill Lynch
Published: 29/10/2007
The Merrill CEO had to go, but the firm he leaves is much stronger than the one he inherited.