Merrill Lynch

Merrill Lynch, the brainchild of Charles E. Merrill and Edmund C. Lynch in 1914, has long been Wall Street’s poster child for both financial wizardry and scandalous debacles. Known for its iconic bull logo and being the largest brokerage firm in the world at its peak, Merrill Lynch was the go-to for the wealthy elite looking to fatten their portfolios. The firm's defining moment came during the 2008 financial crisis when it nosedived into a near collapse, leading to its shotgun marriage with Bank of America in a deal that was more rescue mission than merger. With a valuation that has fluctuated wildly over the decades, Merrill Lynch has weathered its share of controversies, including hefty fines for misleading investors and playing a part in the subprime mortgage crisis. Noteworthy executives like John Thain, who notoriously spent over $1 million on office renovations amid the firm’s meltdown, and Stan O'Neal, who was shown the door with a hefty severance package, have both made headlines for their leadership—or lack thereof. Today, Merrill Lynch remains a powerhouse in wealth management, proving that even after the storm, the bull can still charge forward, albeit with a few scars.