Stan O'Neal

5 Stories

Another Head Rolls at Merrill Lynch

Co-president will step down in wake of huge subprime losses

(Newser) - Merrill Lynch co-president Ahmass Fakahany will step down after subprime mortgages led to a $9.8 billion fourth-quarter loss, the firm said today. Fakahany is at least the third exec from Stan O'Neal's team to leave since John Thain took over as CEO, reports Bloomberg. Thain replaced O'Neal in October... More »

John Thain to Be Merrill CEO

Former Goldman honcho took the NYSE public

(Newser) - Merrill Lynch will name NYSE chief John Thain as its CEO as soon as today, an insider tells the Wall Street Journal. The former Goldman Sachs president, on Merrill’s shortlist since Stan O'Neal was shown the door two weeks ago, was also under consideration for Citigroup’s top post.... More »

Why the CEO Talent Pool Is So Small

As Citi, Merrill searches show, Wall Street is now a tough place to grow managers

(Newser) - With Citigroup and Merrill Lynch both suddenly searching for new CEOs, the Wall Street Journal looks at why the list of contenders for the top jobs at Wall Street's biggest firms is so short. Start with an earn-or-die corporate culture, which taints talented chief executives who fail to deliver in... More »

It's Official: O'Neal Out

CEO ousted after subprime writedowns, backdoor merger talks

(Newser) - Merrill Lynch CEO Stan O’Neal is retiring effective immediately, the company announced today, shocking no one. Merrill characterized the ouster as a mutual decision, but massive subprime losses and takeover indiscretions clearly marked O’Neal for the chopping block. Terms of the exit package were not disclosed, but it's... More »

O'Neal Exit Package Is All That's Left

Lawyers crafting golden parachute for Merrill CEO after $8.4B losses

(Newser) - CEO Stan O’Neal has leaped from the flames of Merrill Lynch after its $8.4 billion write-down last week, but nobody yet knows the size of his golden parachute, writes the Wall Street Journal. Teams of lawyers are negotiating an exit package that may exceed $160 million, reflecting 21... More »

5 Stories