John A. Thain

Bank of America's (NYSE: BAC) Chairman and CEO, Ken Lewis, today announced that John Thain, current ...

CHARLOTTE, Oct. 2 /PRNewswire/ -- Bank of America Chairman and Chief Executive Officer Ken Lewis today announced that John Thain, current chairman and chief executive officer of Merrill Lynch, will have a major role in the combined companies. Lewis also announced that Brian Moynihan will continue as president of Global Corporate and Investment Banking at Bank of America until the merger, and will take on a key newly created enterprise-wide role effective immediately. (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b ) Thain will become president of Global Banking, Securities and Wealth Management in the combined company once the merger is completed. His responsibilities will include what is now in Global Corporate and Investment Banking (GCIB) and most of what is now in Global Wealth and Investment Management (GWIM) at Bank of America which will be merged with similar functions at Merrill Lynch. "I am delighted that John has agreed to join Bank ...

NEW YORK, Sept. 16 /PRNewswire/ -- "The Fed did the right thing to not get involved, to remove the moral hazard of institutions ignoring the risk of their counterparties going bankrupt," says Manny Weintraub, former Managing Director of Neuberger Berman and Founder of money management firm Integre Advisors. "I do think it means that Goldman Sachs and Morgan Stanley will try and find partners sooner than later. Today, as a counterparty, they have to charge less than firms with less leverage like JP Morgan or Bank of America. It used to be if you were going to do a transaction, you would go with whoever could get it done more cheaply for you. Now, there's a sense of why take the risk to enter into a counterparty transaction with a highly levered institution? "So if you compare how Merrill Lynch worked out to how ...

CHARLOTTE, N.C., Sept. 15 /PRNewswire-FirstCall/ -- Bank of America Corporation today announced it has agreed to acquire Merrill Lynch & Co., Inc. in a $50 billion all-stock transaction that creates a company unrivalled in its breadth of financial services and global reach. (Logo: http://www.newscom.com/cgi-bin/prnh/20050720/CLW086LOGO-b ) "Acquiring one of the premier wealth management, capital markets, and advisory companies is a great opportunity for our shareholders," Bank of America Chairman and Chief Executive Officer Ken Lewis said. "Together, our companies are more valuable because of the synergies in our businesses." "Merrill Lynch is a great global franchise and I look forward to working with Ken Lewis and our senior management teams to create what will be the leading financial institution in the world with the combination of these two firms," said John Thain, chairman and CEO of Merrill Lynch. Under terms of the transaction ...

U.S. Treasury Secretary Henry Paulson and NY Federal Reserve Bank President Timothy Geithner pressured the heads of Wall Street's biggest firms to find a solution to fix the Lehman Brothers (NYSE: LEH) situation.

New York Fed spokesman Andrew Williams said talks between the government and the banks are continuing today. Last night's meeting between Wall Street execs and the government began at approximately 6 p.m. with Kendrick Wilson, the former Goldman Sachs (NYSE: GS) executive whom Secretary Paulson hired las an adviser during this financial malaise, helping ...