CIT names ex-Merrill CEO Thain as chairman, CEO

summer123

CIT names ex-Merrill CEO Thain as chairman, CEO
CIT Group names former Merrill Lynch CEO John Thain to lead as chairman and CEO of lender

On Sunday February 7, 2010, 9:21 pm

NEW YORK (AP) -- CIT Group has chosen former Merrill Lynch CEO John Thain to lead the company as chairman and CEO as the commercial lender continues to restructure its business following a brief stay in bankruptcy protection last year.

CIT Group Inc., one of the nation's largest lenders to small and mid-sized businesses, says Thain will take the helm immediately. He replaces acting interim CEO Peter J. Tobin, who will remain on CIT's board.

Thain served as chairman and CEO of Merrill Lynch until its sale to Bank of America was completed in January 2009. He resigned under pressure from the combined company after reports he rushed out billions in bonuses to Merrill employees in his final days as CEO, while the brokerage was suffering huge losses and just before Bank of America took it over.

ppteam

Thain is a good man, good for him.

happyface

Thain is a good man, good for him.
ppteam 发表于 2010-2-7 21:56

我的一个朋友曾经在Merrill Lynch,我听到的可是截然不同的故事.

soulvirus

go00ww

greedy is back

ppteam

“
One lesson of his experience at Merrill Lynch will stick with him. Thain’s departure coincided with revelations that he’d spent $1.2 million to redecorate his office at the money-losing company when he joined in 2007. He later said the renovation was a mistake and reimbursed the firm.

At CIT, “I think I’ll keep my office exactly the way it is,” he said.

Last week, New York Attorney General Andrew Cuomo filed a civil fraud case against Bank of America, former CEO Lewis and the former Chief Financial Officer Joe Price
”

cboom

Thain is a symbol of greed in WS