Economics: Andre Mayer
Andre Meyer has been seen as one of the most important investment bankers in Western economic history. Born in Paris and raised during the turmoil of World War Two, Andre Benoit Mathieu Meyer was working at the Paris Bourse as a messenger at the young age of 15. Then he was given the rare opportunity to work at a small Paris bank. Such a financially influenced childhood set the stage for Andre Meyer to become one of the champions of financial world. It would give him the desire to achieve his goals using the economic methods of the day and allow him to rewrite and shape new methods of business. Andre Meyer first started as a messenger on the Paris trading floor. Having less success in school, he bounced around three different schools by the time he had to start working to help support his father, mother and stepsister. This was mostly due to his fathers gambling problem, which without, Andre’s family would have lived comfortably from Andre’s father’s job as a printer salesman. From the trading floor to the banker’s door, Andre moved his venue when a golden opportunity shown itself. When a banking position vacated itself when a friend of the family had to leave to fight in the war, Andre was quick to grab up the post. With the w . . .
He planned to reduce Citroen’s debt to under $13 million, slow production and cut production costs, and if sufficient credit could be raised, Citroen could again become profitable. Then the banks would take these notes and create a market in which to trade them. SOVAC almost immediately started signing companies into the credit system and SOVAC was able to churn out a profit even during the depression. Andre Meyer was working at a small Paris bank called Baur & Sons when all this trading of government notes, IOU’s and corporate business papers were taking place and it excited him. David-Weill was the man that propositioned Andre and was surprised to hear Andre rejecting the offer unless he made Andre a partner of the firm. Meyer was called in after a first attempt by the company’s son failed. (Reich, 26) This process became so popular that it warranted a story in the New York Times. Andre had his partnership but was still looking high. Morgan, at the time one of the largest consumer credit companies in the United States and the world’s most prestigious private bank. The deal went through and at age 30 Andre had completed his first major business deal. As the depression sunk in Citroen started to flounder. This talent would lead Andre to bigger and grander things especially in America where he would consult such leader such as the Kennedys, and Lyndon Johnson. ar going on at the time, Andre was lucky enough to be diagnosed with a weak heart and therefore unable to fight in the war.
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