Former chairman and Chief Executive officer of Merrill Lynch & Co, William Schreyer, expired on Saturday at his home, situated at New Jersey, as stated by Schreyer's family in a statement.

Schreyer, was born in Williamsport, and got his graduation degree from Penn State University in the year of 1948. He had joined the company as a junior executive trainee.

Schreyer was aged eighty three years when he passed away and had served as the chairman and CEO of Merrill Lynch, from the year of 1985 to the year of 1993.

Schreyer left behind his wife, daughter, son-in-law and two grandchildren.

Schreyer, who was also reputed for donating millions of dollars to his alma mater, Penn State University, died Saturday at his home in Princeton, N. J. Merrill Lynch and his school announced his death on Sunday but did not say how he died.

Schreyer was a familiar face in TV commercials following the stock market crash that happened in 1987, telling viewers that at Merrill Lynch, people are still aggressive on America.

His colleagues remembered Schreyer as a decisive and compassionate leader.

Chairman emeritus of Merrill Lynch, Daniel P. Tully, said that he was a generous mentor to all of the people who succeeded him; he loved Merrill Lynch, and inspired those people around him with an irrepressible sense of humor and optimism. His absence will be felt by all who knew him.

A 1948 Penn State graduate, Schreyer and his wife had donated more than fifty eight million dollars to the university. He also was a member of the school's Board of Trustees from the year of 1986-1998 and served as its president for three years. He also was the chairperson of the school's first major fundraising campaign in the year of 1984, which raised three hundred and fifty two million dollars.