John Thain, chairman and CEO of Merrill Lynch, was awarded the Woodrow Wilson Award for Public Service on May 12. Thain received the honor from the Woodrow Wilson International Center for Scholars, part of the Smithsonian Institution, at a fund-raising dinner for 250 guests in New York City. "Charlie Merrill helped to democratize capitalism and bring the fruits of capitalism to American communities. He empowered millions of Americans to seize the opportunity to build wealth and become shareholders in the American Dream, said Thain at the event.

The Woodrow Wilson Center presents a public service award each year to a U.S. citizen who "serves with distinction in public life," according to the organization's website. Past award recipients include Vice President Richard Cheney, Henry Kissinger, Senator John McCain and General Colin Powell. The Woodrow Wilson Center also recognized Anne Mulcahy, CEO of Xerox, with a corporate citizen award for her focus on diversity at Xerox.

"John Thain and Anne Mulcahy personify the attributes we seek to honor and practice at the Woodrow Wilson Center," said Lee H. Hamilton, president and director of the Center, in a press release. "Their contributions to our nation have been numerous and significant, and it gives me great pleasure that the Board of Trustees has chosen to recognize such worthy honorees," he said.