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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


Andre's handling of the Citroen company, its crisis and its recovery were all strong signs that he had talent as more than just a trader but also as a banker, a financier and a consultant. 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. He would also revitalize businesses and companies including Warner-Lambert and Avis. And would go on to amass a fortune of more than $200 million. And still he never stopped working.

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. This left him free to support the family and hone his skills as a budding financier.

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. He quickly decided that trading was the business he wanted to practice and almost immediately Andre became one of the best traders at the banking firm. He did so well that he was not only able to support his family but move them into a better house in the city. This left him free to seek out a romantic partner and in 1922, married a wealthy banker's daughter and within three years, had two children.

Andre had his partnership but was still looking high. He knew he had a skill for trading but really wanted to be a banker and work the big deals, find the new investments, to counsel corporations. Banking was in sense the principal activity of the firm; reading, wile important, was decidedly out of the mainstream. (Reich, 28) In 1928, Andre Meyer was given yet another golden opportunity to prove himself on a new career as a banker through an automobile company known as Citroen.

As the depression sunk in Citroen started to flounder. Despite the faltering market for cars while the Great Depression was in full swing, Andre Citroen went on making cars like they were the hottest commodities. But the debts mounted and in 1934 he owed some 2,100 creditors, including the French government for more than $20 million. Citroen cut wages by 10 percent to combat the debt but al

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Approximate Word count = 1476
Approximate Pages = 6 (250 words per page double spaced)


  

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