2007
2007 Winner Profile
Merrill Lynch
- Project Description: By revamping its brokerage deposit processes, Merrill Lynch Global Private Client Technology turned new legislation (the Check 21 law allowing banks to clear transactions using images of checks) into a business opportunity. A new workflow process, which is being adopted by partner banks, helped Merrill Lynch reduce its branch office workload related to deposits by 50 percent, amounting in an annual hard dollar net savings of $2.9 million. And Merrill Lynch's bank courier fees will be reduced by $3.6 million per year by 2009.
- Project type: Leadership/Corporate Management/Process Improvement
- CIO: $model.cio100.cioFirstName DePoalo, Managing Director and Chief Technology Officer for the Global Private Client Technology Group
- CEO: Stan O'Neal, CEO, President and Chairman of the Board
- Headquarters: Pennington, N.J.
- Industry: Financial Services
- Revenue (2006): $34.6 billion
- Website: www.ml.com
