Merrill Lynch & Co. Inc. announced Wednesday that it has hired John Thain, the chief executive of NYSE Euronext and a former Goldman Sachs Group Inc. president, as its CEO.
It said he will join the company Dec. 1.
Merrill ousted E. Stanley O'Neal as its CEO on Oct. 30 after it announced a $2.24 billion third-quarter loss, six times what it forecast three weeks earlier.
Mr. O'Neal had been with Merrill for 21 years.
A budget bill passed by the House Financial Services Committee would eliminate the Public Company Accounting Oversight Board and cap the Consumer Financial Protection Bureau's budget at roughly $249 million.
PayPal and Circle are among the companies pushing the rapidly growing payment-friendly cryptocurrency as a catalyst to use other services.
As the banking-as-a-service model has evolved over the last decade amid widespread consent orders and BaaS partnership failures, the number of sponsor banks has dwindled, leaving fintechs to compete for the business of those that remain.
First Savings Financial Group could have bailed out of SBA lending after the departures of key executives and loan officers. Instead it retooled the unit, and it's now reaping the benefits.
Safely disposing of cocaine, sending dogs chasing laser pointers and other unorthodox lessons in maintaining levity in a high-stress job.
Citizens Financial Group's promotion of Brendan Coughlin to company president comes at the same time as CFO John Woods prepares to leave for State Street. Both executives have been viewed as potential successors to CEO Bruce Van Saun.
