Items Tagged with 'John Thain'

ARTICLES

  • Obama, Geithner Crack Down on Executive Pay

    As President Barack Obama called for "basic common sense" regarding executive pay Wednesday, the Treasury Department was announcing a campaign of measures to limit the compensation of top executives at institutions that receive government funds through the Troubled Asset Relief Program.
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  • Thain Replaced Just Hours after Stepping Down from BofA

    In a matter of hours, John Thain -- who stepped down Thursday from his position as president of global banking and wealth-management at the newly combined Bank of America Corp. [stock BAC][/stock] and Merrill Lynch & Co. -- was replaced by Bank of America's General Counsel Brian Moynihan.
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  • Thain Steps Down from BofA

    John Thain, the former Merrill Lynch & Co. CEO, has resigned from his position as president of global banking, securities and wealth management operations at Bank of America Corp. [stock BAC][/stock] after a meeting with BofA CEO Ken Lewis, according to a breaking news bulletin Thursday by the Wall Street Journal. Spokespeople from Merrill Lynch and BofA would not return calls seeking comment before this story was published mid-Thursday.
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  • Thain to Head Investment Banking at BofA

    John Thain, current Merrill Lynch & Co. [stock MER][/stock] chairman and chief executive, was named to a “major role” in the recently combined Bank of America Corp. [stock BAC][/stock] and Merrill Lynch enterprise according to a press statement Tuesday morning. Bank of America chairman and CEO Ken Lewis said that Thain will oversee the global banking, securities and wealth management of the combined companies once the acquisition is completed sometime l
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  • Ah, so it was a shotgun wedding, after all...

    Who knew? Via Bloomberg Thursday night, comes this: Merrill Lynch & Co. Chief Executive Officer John Thain told employees that Bank of America Corp. "cut our trading lines" in the days before it bought the firm, signaling a loss of confidence in the brokerage's ability to pay.
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  • Merrill Sells to Bank of America; Who's Next?

    Is it time to start wondering about the future of Wall Street's independent investment banks? It's almost unthinkable, but news broke Sunday evening that Merrill Lynch & Co. [stock MER][/stock] had agreed to sell itself to Bank of America Corp. [stock BAC][/stock] as the U.S. financial markets went through one of the most tumultuous weekends in history.
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  • Merrill's Bloomberg Stake May Fetch $5 Billion: Report

    Let's start with what's (mostly) known at this point: Merrill Lynch & Co. [stock MER][/stock] is likely to sell assets. After all, CEO John Thain has said the Wall Street firm will not need to raise additional equity, and it's generally assumed that Merrill needs additional capital to weather the ongoing credit and mortgage storm.
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