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In 1982, Schreyer was appointed
President of the firm. In 1985, in an unexpected management shake‑up due to a $ 42 million loss in the last quarter of 1983, he rose to Chairman, and then CEO, as the incumbent Roger E. Birk stepped down. As chief executive, Schreyer "reshaped the company and
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He led a high-level team called the "Schreyer
Working Team" whose goal was to diagnose what was wrong at Merrill; it discovered that although the bank was "bringing in more and more revenue each year", because costs were increasing at the same rate, the net impact on revenue was not positive.
130:, on January 13, 1928. His father managed the local office of a stock brokerage that was later acquired by Merrill Lynch. As a high school student, Schreyer worked there part-time, tasked with writing the day’s stock prices on a chalkboard. Schreyer then attended
257:(whence he graduated, class of 1948) with a gift of $ 30 million. The honors college was created in 1980 as the University Scholars Program. On November 17, 2006, the Schreyers pledged an additional gift of $ 25 million to the
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William A. Schreyer died on the morning of
January 22, 2011, after battling an undisclosed illness for some time. He is survived by his wife, his daughter DrueAnne Schreyer, his son-in-law Rodney Frazier, and two grandchildren.
229:, as well as in New York and around the United States, to be the future of Merrill Lynch. Indeed, Schreyer's restructuring set the foundation for Merrill's admission to the
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services division, which was located entirely in the United States; Schreyer considered international securities, with large presences in
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improved its profitability by slimming down some of its retail operations and building up its investment banking business".
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Bill
Schreyer responded to these financial hardships with a cost-restructuring effort that he called "Merristroika", a
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metropolitan regional director in 1972. He was appointed the head of
Merrill Lynch Government Securities in 1973.
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In March 2007, Schreyer and his wife gifted $ 5 million toward
Princeton HealthCare System's proposed
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fraternity. He graduated in 1948 with a degree in commerce and finance. Although he was accepted by
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in 2009, in which he said he continued to be an optimist, despite what had happened:
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In August 2007, Schreyer donated $ 5 million to the education foundation of the
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imposed further financial burdens. The company endured further hardships in 1987 as
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Legg). In the early 1950s he spent two years on active duty as a lieutenant in the
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Hospital to fund a state-of-the-art community and professional education center.
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to matriculate in fall 1949, he decided instead to enroll in a new
Merrill Lynch
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Unexpected costs associated with the new corporate headquarters in the
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Schreyer worked as a junior executive trainee at
Merrill Lynch in
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coincided with the company's $ 377 million loss on
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398:"Wall Street: Merrill Lynch's New Herdsman"
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298:Still Bullish on America: A Memoir
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196:World Financial Center
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231:Tokyo Stock Exchange
408:on October 29, 2010
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164:U.S. Air Force
20:William A. Schreyer
249:Legg) endowed the
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53:(2011-01-22)
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219:real estate
215:perestroika
211:portmanteau
82:executive,
449:Categories
434:2007-08-16
316:References
266:Plainsboro
144:internship
132:Penn State
32:1928-01-13
377:Bloomberg
206:in 1987.
93:Joan Legg
66:Education
184:New York
168:Germany
156:Buffalo
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289:memoir
223:London
150:Career
90:Spouse
235:China
227:Tokyo
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351:2012
302:ISBN
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