John Thain Rug

John thain s 87 000 rug.

John thain rug.

John alexander thain born may 26 1955 is an american businessman investment banker and former chair and ceo of the cit group. Thain oversaw an expensive redecoration of his office on his way into merrill lynch. From december 1 2007 to january 22 2009 john thain was the ceo of merrill lynch. When john thain was ceo however merrill lynch was a publicly owned company and was listed on the new york stock exchange.

Thain was on his way out at bank of america there were reports that mr. Smith design to revamp his office suite spending approximately 1 22 million. Thain was the last chairman and chief executive officer of merrill lynch before its merger with bank of america 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 a daily beast cnbc exclusive charlie gasparino reveals how merrill lynch s ceo spent over 1 million to redecorate his office last year even as the firm faced a.

Even as news broke that john a. Thain spent more than 1 2 million of the firm s money to freshen up his office suite shortly after joining merrill in. In a report for the daily beast and cnbc charles gasparino said thursday that mr. The 1 2 million thain spent redecorating his office with expenses like an 87 000 area rug and a 35 000 commode with legs paled beside the 15 billion in losses merrill reported for.