Everything about John Thain totally explained
John Alexander Thain (born
May 26 1955 in the United Kingdom, grew up in
Antioch,
Illinois) is the current
chairman and
chief executive officer of
Merrill Lynch. Previously, Mr. Thain held management positions at: the
New York Stock Exchange (
CEO), and
Goldman Sachs (
President,
Chief Operating Officer,
Chief Financial Officer). He amassed $300 million in Goldman
stock. It was widely believed that Mr. Thain was also a front runner to head Citigroup.
(External Link
) (External Link) (External Link) Merrill Lynch and Citigroup sought new leaders following the sudden departure of their former CEOs due to disappointing Q3 2007 earnings reports.
(External Link) (External Link)
Mr. 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,
Federal Reserve Bank of New York's
(External Link) International Capital Markets Advisory Committee,
French-American Foundation, Board of Trustees of the
National Urban League,
The Trilateral Commission (External Link), and serves as a governor at the New York-
Presbyterian Foundation, Inc.
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. Merrill Lynch announced that Mr. Thain will receive at least $50 million per year in compensation and could achieve as much as $120 million per year, depending on the company's stock price.
Education
Thain earned a
bachelor's degree in
Electrical Engineering from
MIT in 1977 and an
MBA from
Harvard Business School in 1979.
While at
MIT he joined The
Delta Upsilon fraternity.
Political donations
John Thain donated $332,950 to politically affilated groups/individuals: $208,000 to Republicans, $16,000 to Democrats, and $108,750 to special interest groups. [http://www.newsmeat.com/ceo_political_donations/John_Thain.php
Family
Mr. Thain's son Alex Thain attended
MIT, and was a member of the
Lambda Chi Alpha fraternity. Alex is a trader for
Goldman Sachs. One of his daughters, Nicole, is a student at
Yale University; another, Victoria, recently graduated from Duke University.
Further Information
Get more info on 'John Thain'.
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