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’Merrill set to sell Bloomberg stake
Merrill Lynch is set to sell its 20% stake in Bloomberg for about $4.5bn but will retain its far more valuable 49% holding in money manager BlackRock. The sale of the Bloomberg stake back to Michael Bloomberg,
Merrill ‘does a Goldman’ in Europe
Merrill Lynch is to create a senior executive post responsible for its European business, reinforcing the view that John Thain, group chief executive since December, wants to make the leadership structure – although not its business mix – more like that of Goldman Sachs,
Merrill considered BlackRock, Bloomberg sales
Merrill Lynch CEO John Thain said that the world’s largest brokerage would consider selling its stakes in news and financial data company Bloomberg and money manager BlackRock if it needed more capital,
Thain warns retail banks on subprime
The pain from the subprime crisis has largely worked its way through the investment banking world but might only be just beginning for retail lenders, John Thain, chief executive of Merrill Lynch, said Wednesday.
Thain: Were bonuses to blame? Goldmanising Merrill
Bonuses are defying the credit crunch, reports Friday’s FT. But hold hard, now Merrill CEO John Thain is weighing in on the great banker bonus debate. According to Thain – you can watch the FT video below – inflated,
Thain doubts monoline bailout
John Thain, Merrill Lynch’s new chief executive, said he expected individual credit insurers would receive capital infusions from investors, but that it would be difficult to craft an “industry-wide” bailout for the beleaguered guarantors.
The Real Deal: On John Thain and ‘Goldmanising’
Contrary to whispers inside Merrill Lynch that John Thain is trying to “Goldmanise” the bank, its new chief executive appears to be doing the opposite. Regardless of how many Goldman Sachs’ operatives Mr Thain recruits,
Merrill’s new chief eyes overhaul
John Thain, incoming chief of Merrill Lynch, plans to revamp the senior management culture at Merrill Lynch in part as an effort to better emulate Goldman Sachs, one of Merrill’s chief competitors and Mr Thain’s former employer.
NYSE’s Thain takes reins at Merrill Lynch
John Thain, chief executive of NYSE Euronext, is to be the new chairman and chief executive of Merrill Lynch, replacing Stan O’Neal, who quit two weeks ago after the company announced it was facing $7.9bn of writedowns on its subprime-related holdings.
Thain absent from Citi’s shortlist
John Thain, widely seen as a favourite to become chief executive of Citigroup, was not on the first shortlist of candidates considered by the search committee of directors on Tuesday. The list comprised a number of internal and external candidates,
New Citi chief to determine strategy
Citigroup’s board is telling candidates for the post of CEO that they would be free to decide on significant disposals or even a break-up of the group. Robert Rubin, who was elected chairman last Sunday after the resignation of Chuck Prince,
Merrill matters – strike Thain’s name off the list
The NYSE Euronext man isn’t interested – or so says the New York Post.
The tabloid cites ‘sources’ as saying that the former Goldman Sachs president was recently approached by the Merrill board’s nominating committee,