Word: fenner
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Dates: during 1960-1969
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Died. Charles Erasmus Fenner, 87, New Orleans stockbroker, co-founder of Fenner & Beane, which he merged in 1941 into Manhattan's Merrill Lynch, E. A. Pierce & Cassatt to create what is today the world's largest brokerage house, responsible for 15% of the volume on the New York Stock Exchange; in Slidell...
After years of being described as "We, the People," the Wall Street brokerage house of Merrill Lynch, Pierce, Fenner & Smith decided to live up fully to its nickname. Merrill Lynch had made itself the world's biggest broker-with 152 worldwide branches, 526,000 account holders and $900 million in assets. Last week, breaking the traditions of a clubby business in which firms are customarily held by only a few partners, Chairman Michael McCarthy, 60, announced Merrill Lynch's intention to sell its shares to the public if he can get the New York Stock Exchange to approve...
Readers readily second Frommer's theory that luxury hotels with English-speaking staffs "and a branch of Merrill Lynch, Pierce, Fenner & Smith in the lobby" tend to insulate Americans from the very Europe they came to see. Frommer receives 1,000 testimonials each year from a list of tight-fisted correspondents that includes schoolteachers, ministers, engineers and architects. But some of the raves are qualified...
Stubborn Man. Okumura, 60, is chairman of Tokyo's Nomura Securities Co. Ltd., the world's largest brokerage firm after Merrill Lynch, Pierce, Fenner & Smith. Nomura, in fact, is known as the Merrill Lynch of Japan and not by accident. As a worker in Nomura's research department before the war, Okumura admired Merrill Lynch's corporate philosophy of people's capitalism, made a study of the American firm's operations. When he took over as head of Nomura in 1948, he began to push widespread stock ownership. He put ads in newspapers, made...
...spirit within business which bodes well for 1963 and into 1964," says Inland Steel Chairman Joseph L. Block, 60, whose family-founded company is the most profitable major producer in the nation's least profitable big industry. Michael W. McCarthy, 60, chairman of Merrill Lynch, Pierce, Fenner & Smith, seems pleased that "the economy has confounded a lot of experts"-and well he might be; his brokerage house, the nation's largest, has profited mightily by the stock market's 34% rise since last June. The only real concern that businessmen seem to have is about what lies...