Who is John Thain?
He is the current CEO of Merrill Lynch. But before that he work as the CEO of the New York Stock Exchange. He started with NYSE on January 15, 2004. Prior to the NYSE he was both President and Chief Operating Officer of Goldman Sachs starting in July of 2003. He was successful in the firm, amassing a total of $300 million in stocks.
He is a member of the MIT Corporation and the Dean's Advisory Council at MIT/Sloan School of Management. He is also a member of INSEAD- U.S. National Advisory Board. As well as the James Madison Council of the Library of Congress. He is also a member of the French- American Foundation and the Trilateral Commission. Along with the that he is a governor of the New York Presbyterian Foundation and a trustee of New York Presbyterian Hospital and a General Trustee of Howard University.
Thain has played a vital role in the NYSE's growth over the past three years. He was instrumental in transforming it into a public company. While increasing the use of automated trading. He was also the mastermind behind the mergers with Archipelago Holdings and Euronext NV.
According to Business Week He was mentioned to head Citi although both Citi and NYSE declined to comment on this rumor. It is said that John Thain has the skills to stabilize Citi and also help it to push into a new growth areas to build the firm into something close to profit machine that is Goldman. How ever it was released on November 14, 2007 that John Thain would be heading Merrill Lynch & Co. INC. He is set to succeed Stan O'Neil who was forced to depart on October 30, 2007 after 21 years with the company. This was due to sub-prime market turmoil that led to the company writing down $8.4 billion in the third quarter.
Information for this article came form
http:// www.realtimetraders.com
http://www.businessweek.com
http://wikipedia.com
And the Biography of John Thain in PDF format Downloaded from a search list.
Published by Mary Morgan
I'm a Stay at home mother of two boys. I have Been married for 17 years. I'm 35 years old. Just started a online study course with Kaplan University. View profile
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2 Comments
Post a CommentShame on you, John Thain! Millions for a bonus and to decorate your office? What is this sense of entitlement? What has become of you and what kind of example are you setting for your children? You are not the person I knew in high school.
What do you think of John Thain now? Is there no end to the arrogance of CEOs? While our $55,000 investment in BAC stock dwindled to %5000, John Thain was buying an $87,000 carpet for his office. At the same time he was hoodwinking BAC to purchase Merrill, he was passing out billions in bonuses to the big guys one month earlier than normal. Is it no wonder the American public has a hate relationship with the rich. And what about poor John Thain who just got canned? Oh, he just returns back to his home in Rye, NY and lives off the millions he squirrel away. Wonder if his ego would allow him to reimburse us for our $50,000 he pissed away. If BAC doesn't can their CEO then the entire BAC Board should resign. When does this corruption end? Are you going to write anything about this?
Will John Thain face any kind of criminal endictment? Does anyone care what is going on?