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We're bullish. Behind every company, there is an engine driving change and creating
opportunity. At Merrill Lynch, that engine is the infinite supply of creativity from our entire global
team - more than 70,000 people strong, on six continents, in 44 countries.
In all that we do, we strive for preeminence, not least of which includes creating a workplace where
intelligence and talent are as valuable as any currency. Intelligence is not only about pioneering strategy
or leading industry performance. It's about our people, whose knowledge drives our business achievements, and whose passion makes working at Merrill Lynch more than a job.
We're committed to attracting, rewarding and developing that knowledge every step of the way,
starting with world-class recruiting. Growth opportunities run the gamut - from mentoring and
e-learning to experiences in new markets and economies. We pursue innovation on all fronts. Through
incubators like BizWorks, our employee venture capital program, we reward the best thinking within
Merrill Lynch. Meanwhile, research partnerships, including ours with the Massachusetts Institute of
Technology and the London Business School, explore new ideas with application for our industry and
the world at large.

Yet our true strength comes from the diversity of our people
and the many different perspectives they represent. At Merrill Lynch,
Respect for the Individual means not only recognizing our differences, but valuing them. That's why we established programs
like the Campaign for Women's Achievement to promote and
broaden career opportunities for women at the firm. Additionally,
our Diversity Leadership Council and different Employee Networks
help create an inclusive workplace where everyone can grow
professionally. We understand that success has no bounds in
a place with no boundaries.
Without boundaries, opportunities grow for our clients and shareholders, and take root in the communities where we live and work.
We're honored that Worth magazine recognized our corporate philanthropy, citing Merrill Lynch as a "Top Corporate Giver."
Our employees give back, too - whether donating funds to
earthquake victims in India and El Salvador, sponsoring school art
in Latin America or teaching orphans in Tibet.
 Twelve years ago, employees helped launch ScholarshipBuilder ®
- our U.S. program pledging college scholarships to 250 first-grade
students from inner cities who promised to stay in school. Last June,
we proudly watched these students graduate from high school.
It's been a long journey. But employees tirelessly volunteered their
time, resources and spirit because, collectively, we recognize the
value that long-term investments can yield.
After all, our company was founded on the idea that the world
is full of opportunity. Perhaps that's why almost one-third of our
shareholders are employees who believe in the long-term promise
of Merrill Lynch. Markets change, but our Principles endure. These
values are the fabric of our company. They represent who we are
and how we operate. We're bullish: What we built yesterday was
remarkable, but it's just a prelude to what we'll build tomorrow.
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