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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.
[5] [1] [6] In 2004, she moved to Dublin to work for Depfa Bank. [1] She was later a managing director at Bank of America Merrill Lynch after moving back to London. [ 4 ] She joined the Financial Conduct Authority in 2014, and worked there as Director of Market Oversight.
Nelson Joosuk Chai (born 1965) is an American investment banker and financial executive. [1] [2] He formerly served as the chief financial officer of American financial services company Merrill Lynch and briefly as Bank of America's president for the Asia-Pacific region.
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 ...
The company was founded on January 6, 1914, when Charles E. Merrill opened Charles E. Merrill & Co. for business at 7 Wall Street in New York City. [11] A few months later, Merrill's friend, Edmund C. Lynch, joined him, and in 1915 the name was officially changed to Merrill, Lynch & Co. [12] At that time, the firm's name included a comma between Merrill and Lynch, which was dropped in 1938. [13]
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]
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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 ...