Chief executive of Merrill Lynch quits

Merrill Lynch & Co chief executive John Thain has resigned from Bank of America Corporation, the company said tonight.

Chief executive of Merrill Lynch quits
Thu, 22 Jan, 2009 - 19:13

Merrill Lynch & Co chief executive John Thain has resigned from Bank of America Corporation, the company said tonight.

The company gave no reason for Mr Thain’s departure, but it follows news that Merrill Lynch moved up its year-end bonuses, doling out cash just days before it was officially acquired by Bank of America on January 1.

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