News, notes and follow-ups

« Previous Post | Afterword Home | Next Post »

William Schreyer, former Merrill Lynch chairman, dies at 83

MerrillWilliam Schreyer, a former chairman and CEO of Merrill Lynch who led its transition from a stock brokerage to a diversified global investment bank, has died. He was 83.

Schreyer, who also gained recognition for donating millions of dollars to his alma mater, Penn State University, died Saturday at his home in Princeton, N.J. The school and Merrill Lynch announced his death Sunday but did not say how he died.

Schreyer had a 45-year career at Merrill Lynch and led the firm from 1985-1993. He became a familiar face in TV commercials after the 1987 stock market crash, telling viewers: "At Merrill Lynch, we're still bullish on America."

A 1948 Penn State graduate, Schreyer and his wife committed more than $58 million to the university. He also was a member of the school's Board of Trustees from 1986-1998 and served as its president for three years. He also chaired the school's first major fundraising campaign in 1984, which raised $352 million.

"No one has had greater ambition for Penn State and its students than Bill Schreyer," said Steve Garban, president of the university's board.

Schreyer was born Jan. 13, 1928, in Williamsport, Pa., where his father managed the local office of a stock brokerage that Merrill Lynch later acquired. He worked there part-time while in high school and joined Merrill Lynch as a junior executive trainee after graduating from college.

He became head of the firm's Trenton, N.J., office in 1963 and then held a succession of positions in its retail branch office system before becoming the New York metropolitan area regional director in 1972. He became head of Merrill Lynch's government securities subsidiary the following year.

Schreyer became Merrill Lynch's president in 1982 and was named chief executive and chairman in 1985.

--Associated Press

Photo: William Schreyer. Credit: PR newswire

Post a comment
If you are under 13 years of age you may read this message board, but you may not participate.
Here are the full legal terms you agree to by using this comment form.

Comments are moderated, and will not appear until they've been approved.

If you have a TypeKey or TypePad account, please Sign In

Comments (0)

Feed You can follow this conversation by subscribing to the comment feed for this post.


Recommended on Facebook


In Case You Missed It...

Profiles of military personnel killed in Iraq
and Afghanistan.


Lives in Pictures »

Search Paid Obituaries »

First Name
Last Name
Powered by ©

Yesterday's Obituaries