John Thain Net Worth

The deal valued the brokerage at $50 billion. He was designated to become president of global banking, securities, and wealth management at the newly combined company, but resigned on January 22, 2009 in the wake of several controversies, specifically the huge executive bonuses paid out at the height of the banking crisis. Before Merrill Lynch, he was the CEO of the New York Stock Exchange from January 2004 to December 2007. He also worked at Goldman Sachs, as head of its mortgage securities division from 1985 to 1990, and president and co-chief operating officer from 1999 to 2004. On the evening of February 7, 2010, CIT Group announced that it was hiring Thain to replace interim CEO Peter Tobin immediately.