The familiar bull symbol with its curving tail and powerful chest has come to rest on a second-story office next to the Nugget Theatre.
The financial services giant, Merrill Lynch, opened an office on Main Street in Hanover yesterday with a ribbon-cutting ceremony at which Vice Chairman John Steffens '63 was present.
Steffens said Merrill Lynch has been able to expand to small communities such as Hanover because of recent technological advancements.
The firm has targeted these communities because they often contain retirement communities which compose much of the company's client base, he said.
About 200 offices have opened in small communities across the country in the past few years, Steffens said.
Ed Stansfield, manager of the new office, said about 100 people were invited to attend the ceremony, including Hanover selectmen and Chamber of Commerce members.
While in Hanover, Steffens addressed members of the Business Bridge Program at the Amos Tuck School of Business Administration.
The Business Bridge Program is a four-week business-education course offered to college seniors, recent college graduates and some postgraduates with doctorates.
In his speech, Steffens used figures to describe U.S. Private Client, the company he heads. Private Client earns half the total profits of Merrill Lynch and has 7.5 million clients, 32,000 employees and $951 billion in assets. Steffens said Private Client owns 10 banks, two insurance companies, a mortgage company and six trust companies around the globe.
This example illustrated the increasing level of integration among various types of financial service firms, a key point of Steffen's lecture.
Steffens said he predicts the future will bring "a continued convergence of financial industries" and many more acquisitions. To survive, he said companies will have to deal with "complexity, globalization, integration and wisdom."
To succeed in the future business world, he said students should develop the ability to be "global nomads" to understand different economic environments.
When asked for his formula for success, Steffens said he has "never seen anyone successful that isn't passionate about what they do" and "surround yourself with ... people who have their own ideas."
He stressed the importance of both written and verbal communication skills, despite the increasing use of computers.
Steffens, whose father and son also graduated from Dartmouth, said he enjoys returning to his alma mater because there is "a consistency about Hanover" that he appreciates.
