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Encyclopedia > John Thain
John Thain in 2006.

John Thain (born May 26, 1955 in Antioch, Illinois) will become chairman and chief executive officer of Merrill Lynch effective December 1, 2007 (announced November 14, 2007). Previously, Mr. Thain was CEO of the New York Stock Exchange and prior to that, both president and chief operating officer of Goldman Sachs, starting in July, 2003. For four years prior, he was also co-COO at Goldman and before that time, spent five years with the firm as its chief financial officer. He was successful enough in the firm to amass $300 million in stock. It was widely believed that Mr. Thain was also a front runner to head Citigroup.[1] [2] [3] Merrill Lynch and Citigroup were both in the market for new leaders following the sudden departure of their former CEOs as a result of record mark-downs at both firms announced in their Q3 2007 earnings reports. [4] [5] Image File history File links Metadata No higher resolution available. ... Image File history File links Metadata No higher resolution available. ... is the 146th day of the year (147th in leap years) in the Gregorian calendar. ... Year 1955 (MCMLV) was a common year starting on Saturday (link displays the 1955 Gregorian calendar). ... It has been suggested that this article or section be merged into Antakya. ... Official language(s) English[1] Capital Springfield Largest city Chicago Largest metro area Chicago Metropolitan Area Area  Ranked 25th  - Total 57,918 sq mi (140,998 km²)  - Width 210 miles (340 km)  - Length 390 miles (629 km)  - % water 4. ... A Chairman is the presiding officer of a meeting, organization, committee, or other deliberative body. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... Merrill Lynch & Co. ... Chief Executive Officer (CEO) is the job of having the ultimate executive responsibility or authority within an organization or corporation. ... The New York Stock Exchange (NYSE), nicknamed the Big Board, is a New York City-based stock exchange. ... President is a title held by many leaders of organizations, companies, trade unions, universities, and countries. ... A Chief Operating Officer (COO) is a corporate officer responsible for managing the day-to-day activities of the corporation. ... The Goldman Sachs Group, Inc. ... “CFO” redirects here. ... For other uses, see Stock (disambiguation). ...


John Thain's memberships include: MIT Corporation, Dean's Advisory Council – MIT Sloan School of Management, INSEAD – U.S. National Advisory Board, James Madison Council of the Library of Congress and Federal Reserve Bank of New York's [6] International Capital Markets Advisory Committee. Other memberships include: French-American Foundation, Board of Trustees of the National Urban League and The Trilateral Commission [7], as well as a governor of the New York-Presbyterian Foundation, Inc. [8] The MIT Sloan School of Management is one of the five schools of the Massachusetts Institute of Technology, located in Cambridge, Massachusetts, USA. It is one of the worlds leading business schools, conducting research and teaching in finance, entrepreneurship, marketing, strategic management, economics, organizational behavior, operations management, supply chain... INSEAD is a graduate business school and research institution with campuses in Fontainebleau (near Paris), France and in Singapore. ... Construction of the Thomas Jefferson Building, from July 8, 1888 to May 15, 1894. ... The Fed redirects here. ... National Urban League Logo The National Urban League (NUL) is a nonpartisan civil rights organization based in New York City that advocates on behalf of African Americans and against racial discrimination in the United States. ... The Trilateral Commission is a private organization, founded in July 1973, at the initiative of David Rockefeller; who was Chairman of the Council on Foreign Relations at that time and the Commission is widely seen as a counterpart to the Council on Foreign Relations. ... Presbyterianism is a tradition shared by a large number of Christian denominations which is most prevalent within the Reformed branch of Protestant Western Christianity. ...


John Thain's Pay Scale: In December 2003 NYSE interim chairman John Reed, told The Wall Street Journal that John Thain would be paid "a plain vanilla number" - about $4 million a year, including bonuses, with no "strange retirement" programs like former CEO Dick Grasso was paid. Mr. Thain's compensation at Merrill Lynch has not been disclosed. John Shepard Reed is the Chairman of the New York Stock Exchange. ... The Wall Street Journal (WSJ) is an international daily newspaper published by Dow Jones & Company in New York City, New York, USA, with Asian and European editions, and a worldwide daily circulation of more than 2 million as of 2006, with 931,000 paying online subscribers. ... Richard Grasso Richard A. Grasso (born 1946 in Jackson Heights, Queens, New York City) usually known by the nickname Dick, was chairman and chief executive of the New York Stock Exchange from 1995 to 2003, the culmination of a career that began in 1968 when Grasso was hired by the...


Education

Thain earned a bachelor's degree in Electrical Engineering from MIT in 1977 and an MBA from Harvard Business School in 1979. A bachelors degree is usually an undergraduate academic degree awarded for a course or major that generally lasts for three, four, or in some cases and countries, five or six years. ... Electrical Engineers design power systems… … and complex electronic circuits. ... Mapúa Institute of Technology (MIT, MapúaTech or simply Mapúa) is a private, non-sectarian, Filipino tertiary institute located in Intramuros, Manila. ... Master of Business Administration (MBA) is a tertiary degree in business management. ... Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. ...


While at MIT he joined The Delta Upsilon fraternity. Mapúa Institute of Technology (MIT, MapúaTech or simply Mapúa) is a private, non-sectarian, Filipino tertiary institute located in Intramuros, Manila. ... Delta Upsilon (ΔΥ) is one of the oldest international, all-male, college, Greek-letter social fraternities and is the first non-secret fraternity ever founded. ...


External links

  • Yale Economic Review article on John Thain and the NYSE
  • A Visual Analysis of John Thain's Corporate Network
  • Merrill Lynch Press Release: John A. Thain Named Chairman and Chief Executive Officer of Merrill Lynch

  Results from FactBites:
 
NYSE Names Goldman's John Thain As CEO (930 words)
Reed said Thain will be paid a total of $4 million a year, including all benefits, a sum that is in the mid-range of what leaders of stock exchanges around the country are paid.
At the news conference, Thain said his goal was to ensure the exchange remains "the most liquid and most efficient marketplace." That may involve a greater degree of electronic trading, he said.
Thain had been seen as a possible successor to Goldman Sachs CEO Henry Paulson, though Paulson has not announced plans to retire.
John A. Thain News - The New York Times (873 words)
John A. Thain, the new C.E.O. of Merrill Lynch, can expect nearly $50 million a year as he tries to restore the firm’s reputation as it grapples with the subprime mortgage problems.
John A. Thain said he would be open to having more Europeans on the board of the combined exchange.
John A. Thain, the chief executive of the New York Stock Exchange, bought a duplex apartment last month at 740 Park Avenue that had been owned by the late Enid A. Haupt, the philanthropist, according to a record filed with the city.
  More results at FactBites »

 
 

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