The ads are the first public response from the firm since it agreed to pay $100m in penalties to settle the New York state attorney general's investigation into alleged conflict of interest among its stock research analysts.
The newspaper ad carries a full-page photograph of Komansky and O'Neal and has the headline: 'Lately, you've been hearing a lot about Merrill Lynch. Now you're going to hear from us.' The ad details some of the changes Merrill has made in its stock research procedures to restore investor confidence.
J. Walter Thompson is behind the ad campaign, which will run in several US newspapers, including The New York Times, USA Today and The Wall Street Journal. It will also run in several business magazines.
Merrill Launches Ad Offensive
The New York Times reports that Merrill Lynch has commenced its public relations fightback and is running newspaper ads featuring its two top executives, David Komansky and Stanley O'Neal.
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