John Thain
From MarketsWiki
| John Thain | |
| |
| Occupation | Chief Executive Officer |
|---|---|
| Employer | Merrill Lynch & Co., Inc. |
| Location | New York |
| Web site | www.ml.com |
John Thain is the CEO of Merrill Lynch & Co., Inc., and former CEO of NYSE Euronext, named to his new post on Nov. 14, 2007 (effective Dec. 1, 2007) to replace Stan O'Neal.[1][2]
In mid September of 2008 it was announced that Bank of America would buy Merrill Lynch in a $50 billion deal that would create a bank offering everything from fixed income trading to credit card lending.[3] The next month Bank of America chairman and chief executive officer Ken Lewis announced that Thain would have a major role the combined companies. Thain would become president of Global Banking, Securities and Wealth Management in the combined company once a merger between the two companies was completed.[4]
Background
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Prior to taking over at Merrill Lynch, Thain was CEO of NYSE Euronext[5] , in January 2004 succeeding John Reed, who had served as chairman and CEO of NYSE since the resignation of Richard Grasso. He oversaw the merger with Archipelago Holdings and the NYSE's initial public offering, as well as the merger with Euronext.
Before joining the NYSE, Thain was president and chief operating officer of Goldman Sachs Group, Inc. from July 2003, and was president and co-chief operating officer from May 1999 through June 2003. He also had been a director since 1998. Thain was appointed as president and co-chief operating officer of The Goldman Sachs Group, L.P., in 1999. From 1994 to 1999, he served as CFO and head of operations, technology and finance. From 1995 to 1997, he was also co-chief executive officer for Goldman's European operations.
Affiliations
Thain is a member of The MIT Corporation, the Dean's Advisory Council – MIT/Sloan School of Management, INSEAD – U.S. National Advisory Board, the James Madison Council of the Library of Congress and the Federal Reserve Bank of New York's International Capital Markets Advisory Committee. He is also a member of the Business Roundtable, French-American Foundation and a governor of the New York-Presbyterian Foundation, Inc., a trustee of New York-Presbyterian Hospital and a general trustee of Howard University.
Education
Thain has an undergraduate degree in Electrical Engineering from Massachusetts Institute of Technology and an MBA from Harvard. He grew up in Antioch, Illinois, north of Chicago.
References
- ↑ "Merrill Taps NYSE's Thain as CEO". wsj.com. Retrieved on Nov. 15, 2007.
- ↑ New CEO of Merrill Lynch moves to clean up problems. Philadelphia Inquirer. Retrieved on January 10, 2008.
- ↑ Bank of America To Purchase Merrill Lynch. MSNBC. Retrieved on Oct. 2, 2008.
- ↑ Ken Lewis Announces John Thain Role With Bank of America. Philly Inquirer. Retrieved on Oct. 2, 2008.
- ↑ John Thain. New York Stock Exchange. Retrieved on January 10, 2008.
