Edmund C. Lynch
| Edmund C. Lynch | |
|---|---|
 |
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| Born |
Edmund Calvert Lynch May 19, 1885 Baltimore, Maryland |
| Died | May 12, 1938 (aged 52) London, England |
| Alma mater | Boys' Latin School of Maryland, Johns Hopkins University |
| Occupation | Investment Banker |
| Known for | Founder of Merrill Lynch |
| Children | Vernon Lynch Merrill, Signa Janney Lynch, Edmund Calvert Lynch Jr. |
Edmund Calvert Lynch (May 19, 1885 – May 12, 1938) and his friend, Charles E. Merrill, formed Merrill Lynch on October 15, 1915.
Edmund Lynch was born on May 19, 1885 in Baltimore, Maryland to Richard H. Lynch and Jennie Vernon Smith Lynch. Edmund Calvert Lynch attended the Boys' Latin School of Maryland in Baltimore and graduated from Johns Hopkins University in 1907.
Edmund Lynch met Charles E. Merrill when Lynch was a stockbroker on Wall Street. In 1907, Merrill moved into Lynch's room at the YMCA's boarding house while trying to find a place to live in New York City. The two men shared their ideas of starting a brokerage, and became great friends. On October 15, 1914, Merrill and Lynch started Merrill, Lynch & Company.
Lynch was especially known for helping create, finance, and broker many large chain-stores in the United States, including S.S. Kresge Corporation (now Kmart), J. C. Penney, and Safeway Inc..
Lynch also purchased the pioneering French movie company Pathé Exchange in 1921, and later rebranded it to Keith-Orpheum (RKO Pictures).
Edmund C. Lynch gained special notoriety when he foresaw the impending Wall Street Crash of 1929, and advised Merrill Lynch's clients to sell many of their stock holdings in 1928. As many Americans were enjoying the soaring stock market in 1928, Lynch was convinced a disaster was near. His famous letter to all of Merrill Lynch's clients warned:
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