Stan O’Neal
Rising to the Top
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| O’Neal Photo courtesy Merrill Lynch & Co., INC. |
While Merrill Lynch CEO E. Stanley O’Neal admits the public perception of CEOs, business, and financial markets may be low in the current climate, he loves what he does. “I often pinch myself when I wake up in the morning,” says the Wedowee, Alabama, native. “I find it terribly rewarding and humbling. It is hard for me to imagine anything I’d enjoy more.”
O’Neal, named one of the “25 Most Powerful People in Business” by Fortune magazine this year, joined Merrill in 1986 as director of Investment Banking and rapidly worked his way up the ranks. While the recent corporate scandals have increased cynicism, O’Neal points to the many positive changes that have taken place as a result — in legislation, in policy, in transparency. “Significant improvements have been made,” notes O’Neal. “We’re doing our best to restore confidence.”
A firm believer in the U.S. financial markets, O’Neal says that “despite some breaks in the system, the financial markets efficiently allocate capital to the best opportunities. This is the foundation of our society.”
With offices at the World Financial Center adjacent to the World Trade Center, O’Neal says the two emotions that come to mind when considering the 9/11 tragedy are sadness and courage. He is particularly proud of Merrill’s nine thousand employees who worked near the towers. “It really was an incredible feat for our employees to go on,” observes O’Neal. “Their resilience has been amazing.”
— SY
