William Schreyer, 83, of Merrill Lynch, dies

PRINCETON, N. J. - William Schreyer, a former chairman and chief executive of Merrill Lynch who led its transition from a stock brokerage to a diversified global investment bank, has died. He was 83.

Schreyer, who gained recognition for donating millions of dollars to his alma mater, Penn State University, died Saturday at his home in Princeton. No cause of death was given.

Schreyer had a 45-year career at Merrill Lynch and led the firm from 1985 to 1993. He became a familiar face in TV commercials after the 1987 stock market crash, telling viewers: "At Merrill Lynch, we're still bullish on America."

"He was a generous mentor to all of us who succeeded him," said Daniel P. Tully, chairman emeritus of Merrill Lynch.

A 1948 graduate of Penn State, Schreyer, with his wife, committed more than $58 million to the university. He was a member of the school's Board of Trustees from 1986-1998 and served as its president for three years. He chaired the university's first major fundraising campaign in 1984, raising $352 million.

- AP