John Thain
John Alexander Thain (born May 26, 1955) is an American businessman, investment banker, and currently chairman and CEO of the CIT Group.
Thain was the last chairman and chief executive officer of Merrill Lynch 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. Ken Lewis, CEO of Bank of America, reportedly forced Thain to step down after several controversies, such as the losses at Merrill Lynch which proved to be far larger than previously estimated, and the award of huge executive bonuses.
Thain has been nicknamed "Superman", due to his facial resemblance to the character's alter-ego Clark Kent.
Read more about John Thain: Career, Compensation, Departure From Bank of America, Obama Administration, Criminal Investigation, Post-Merrill Career, Memberships, Personal Life
Famous quotes containing the word john:
“Well, on the official record you’re my son. But on this post you’re just another trooper. You heard me tell the recruits what I need from them. Twice that I will expect from you.... You’ve chosen my way of life. I hope you have the guts enough to endure it. But put outa your mind any romantic ideas that it’s a way to glory. It’s a life of suffering and of hardship and uncompromising devotion to your oath and your duty.”
—James Kevin McGuinness, and John Ford. Lt. Col. Kirby Yorke (John Wayne)