JAT
Frequently asked questions
FAQ
Who is John Alexander Thain?
John Alexander Thain is an American businessman and former chairman and CEO of the New York Stock Exchange. He also served as CEO of Merrill Lynch from 2007 to 2009.
What is John Thain known for in the business world?
John Thain is known for his roles as the CEO of the New York Stock Exchange and Merrill Lynch. He is often associated with his actions during the 2008 financial crisis, including the controversial decision to award large bonuses to Merrill Lynch employees shortly before the firm's merger with Bank of America.
What was John Thain's career before leading Merrill Lynch?
Prior to becoming the CEO of Merrill Lynch, John Thain held various positions in the financial industry. He worked for Goldman Sachs, where he became president and chief operating officer in 1999. Thain was also the CEO of the New York Stock Exchange from 2004 to 2007.
How did John Thain's tenure at Merrill Lynch end?
John Thain's tenure at Merrill Lynch came to an end in early 2009. Following the firm's merger with Bank of America, it was revealed that Merrill Lynch had incurred significant losses. Thain was criticized for the large bonuses awarded to Merrill Lynch employees, and he ultimately resigned as CEO of the firm.
What has John Thain done since leaving Merrill Lynch?
Since leaving Merrill Lynch, John Thain has held various leadership positions in the financial industry. He became CEO of CIT Group, a financial holding company, in 2010 and served in that role until 2015. Thain has also served on the boards of several companies, including Uber and the nonprofit organization, the Carnegie Hall Corporation.