Free Site Registration Free Site Registration

Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.

FREE site registration entitles you to:

Exclusive Online Only Content

Free Daily Email News Alerts

Industry White Papers

Asset Management Blogs


Thain to Remain with BoA in Key Position

By Editorial Staff

October 2, 2008

Following Bank of America’s acquisition of Merrill Lynch, the latter’s chairman and chief executive officer, John Thain, will reportedly remain with the merged entity as head of global banking, securities and wealth management.

 

As such, Thain could be the next in line to succeed BoA Chief Executive Kenneth Lewis, 61, who has said he would like to retire at age 65.

 

If this should happen, it would mirror a similar arrangement between Bank One and JPMorgan Chase, with then-chairman of JPMorgan, Bill Harrison, acquiring his successor, James Dimon, from Bank One.

 

Thain has only been with Merrill for less than a year, and previously was CEO and a director of NYSE Euronext. He also was co-president and co-chief operating officer of Goldman Sachs.


For more information on related topics, visit the following:

Related Items