Michael Marks (financier)

Michael Marks CBE
Born28 December 1941
NationalityBritish
OccupationFinancier
Known forLeading Smith New Court (1987-1995) and Merrill Lynch Europe (1995-2003)

Michael John Paul Marks (born 28 December 1941) is a British businessman, best known as executive chairman of Merrill Lynch Europe (1995 – 2003)[1] and before that CEO and then chairman of City of London stockbroker Smith New Court (1985 to 1995) until its acquisition by Merrill Lynch in 1995.[2]

Career

Marks’ career began at City of London stockjobbing firm Smith Brothers (later Smith New Court) in 1958, where he started as a messenger and then “blue button”, working his way up to the position of director in 1975.[3]

In 1987, Marks became CEO of what had then become Smith New Court[4] when NM Rothschild had taken a stake. In 1995, he took over from Sir Michael Richardson as executive chairman of the firm,[5] overseeing its sale to Merrill Lynch that same year.[6]

Marks left Merrill Lynch in 2003 to set up a new boutique investment house with other ex-Merrill Lynch colleagues.[7] In a nod to their earlier days, the new venture was called NewSmith Capital Partners.[8] Marks, along with co-founder Stephen Zimmermann, retired from NewSmith in 2014.[9]

Marks was also a non-executive director of the London Stock Exchange between 1994 and 2004.[10] During that time, Merrill Lynch advised the London Stock Exchange on its ill-fated merger with Deutsche Börse in 2000; but it stepped down from that role after that proposed transaction unravelled.[11]

Marks was appointed a CBE for services to the financial services industry in the 1999 New Year Honours list.

References

  1. ^ Hoar, Rebecca (21 July 2002). "Business Profile :The great bull marks time". The Daily Telegraph. Retrieved 30 August 2018.
  2. ^ Ipsen, Erik (1995). "Smith New Court accepts Bid by Merrill Lynch". The New York Times. Retrieved 30 August 2018.
  3. ^ Hoar, Rebecca (21 July 2002). "Business Profile :The great bull marks time". The Daily Telegraph. Retrieved 30 August 2018.
  4. ^ Griffiths, Ian (7 December 2012). "Marks quits Merrill to launch private venture". The Guardian. Retrieved 30 August 2018.
  5. ^ Rodgers, Peter (3 September 1994). "Smith New Court chairman bows out; Richardson dismisses idea of retirement". The Independent. Archived from the original on 14 May 2022. Retrieved 30 August 2018.
  6. ^ Ipsen, Erik (1995). "Smith New Court accepts Bid by Merrill Lynch". The New York Times. Retrieved 30 August 2018.
  7. ^ Griffiths, Ian (7 December 2002). "Marks quits Merrill to launch private venture". The Guardian. Retrieved 30 August 2018.
  8. ^ Kemeny, Luncida (8 February 2004). "NewSmith founders put £50 into firm". The Times. Retrieved 30 August 2018.
  9. ^ "NewSmith founding duo depart fund manager". Financial News. 18 July 2014. Retrieved 30 August 2018.
  10. ^ "London Stock Exchange plc". Companies House website. Retrieved 30 August 2018.
  11. ^ Treanor, Jill (23 September 2000). "Merrill Lynch quits as LSE adviser". The Guardian. Retrieved 30 August 2018.