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Thain then became the last chairman and CEO of Merrill Lynch & Co. before its merger with Bank of America. He was designated to become president of global banking, securities, and wealth management at the newly combined company, but resigned on January 22, 2009.
New York State Supreme Court Justice Bernard Fried ruled that John Thain, former CEO of Merrill Lynch, was permitted to disclose information about bonus payments that went out prior to the Merrill ...
Later that day, Merrill Lynch was sold to Bank of America for 0.8595 share of Bank of America common stock for each Merrill Lynch common share, or about $50 billion or $29 per share. [ 50 ] [ 51 ] This price represented a 70.1% premium over the September 12 closing price or a 38% premium over Merrill's book value of $21 a share, [ 52 ] but also ...
In May 2007, Fleming and Ahmass Fakahany were named co-presidents of Merrill Lynch. [18] In June 2008, Fleming became chief operating officer. [19] After the Bank of America merger was completed in January 2009, [20] Fleming resigned from Merrill Lynch to teach at Yale University, [21] becoming a senior research scholar and lecturer in law. [8]
A daily look at legal news and the business of law: Claims That Lewis and Thain Hid Bonuses, Losses Can Proceed The Securities and Exchange Commission's original settlement with Bank of America ...
By Jonathan Stempel Top executives at Bank of America (BAC) did not tell shareholders just prior to a 2008 vote on its purchase of Merrill Lynch & Co that losses were mounting and expected to ...
Todd G. Sears (born 1976), American businessman and advocate for LGBTQ+ equality, is the founder and CEO of Out Leadership since 2010. [1] A former investment banker and private banker, he has served as head of diversity strategy at Merrill Lynch from 2007-2008 and head of diversity and inclusion at Credit Suisse from 2008-2010. [1]
Source: Wikimedia Commons. Five years ago, Bank of America acquired Merrill Lynch, the nearly 100-year-old investment banking franchise. But it wasn't until today that Merrill Lynch officially ...