Michael Marks (financier)

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]

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

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.
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