John Thain Biography
John Thain is a well-known American investment banker and financial executive who acted as the CEO of the New York Stock Exchange and thereafter became co-COO and President of Goldman Sachs. Thain also then became the last chairman and CEO of Merrill Lynch before its merger with Bank of America.
Thain famously acted as CEO of Merrill Lynch during the 2008 financial crisis. He is credited with engineering the sale of Merrill Lynch to Bank of America in an action to save the company from collapse. Regardless, he also came under objection for paying out millions of dollars in bonuses to Merrill Lynch executives just before the sale, a move that was seen by many as insensitive given the dire financial straits the company was in.
10 Quick Facts About John Thain
- Name: John Thain
- Age: 68 Years (2023)
- Birthday: 26 May
- Zodiac Sign: Gemini
- Height: Average
- Nationality: American
- Occupation: Investment Banker and Financial Executive
- Marital Status: Married
- Salary: To be Updated
- Net worth: $100 million
John Thain Age
Thain is 68 years old as of 2023, he was born on 26 May 1955, in Antioch, Illinois, United States. He celebrates his birthday on 26 May every year, and his birth sign is Gemini.
John Thain Height
Thain stands at an average height. He appears to be quite tall in stature in his photos, relative to his surroundings, are anything to go by. However, details regarding his actual height are currently not publicly available. We are keeping tabs and will update this information once it is out.
John Thain Weight
Thain has a moderate weight. His weight is publicly not available. We will update this section once the information is available.
John Thain Early Life and Education
Thain was born in Antioch, Illinois, United States. His father, Alan, was a doctor on the town’s redbrick Main Street who has since handed his practice on to Thain’s two brothers, Dennis and Robert, both general practitioners. He also acquired a bachelor’s degree in electrical engineering from MIT in 1977 and an MBA from Harvard Business School in 1979. While attending MIT, Thain joined the Delta Upsilon fraternity.
John Thain Parents
Thain was born in Antioch, Illinois as the son of Alan (father)who was a doctor on the town’s redbrick Main Street. Information about his mother is publicly not available. We will update this section once the information is available.
John Thain Siblings
Thain spent his childhood alongside his two brothers Dennis and Robert, who are both general practitioners.
John Thain Wife
Thain is currently married to his lovely wife Carmen Thain who is also an active member of the NYBG Board. The couple together is blessed with three children; a son, Alex Thain, and two daughters Victoria Thain, and Nicole Thain.
John Thain Children
John and his beautiful partner, Carmen are proud parents of three children, two daughters and one son, Alex Thain, Victoria Thain, and Nicole Thain.
John Thain Net Worth
John has an estimated Net Worth of $100 million dollars as of 2023. This includes his assets, money, and income. His primary source of income is his career as an Investment Banker and Financial Executive. Through his various sources of income, Thain has been able to accumulate good fortune but prefers to lead a modest lifestyle.
John Thain Measurements and Facts
Here are some interesting facts and body measurements you should know about John Thain.
John Thain Wiki
- Full Names: John Alexander Thain
- Popular As: John Thain
- Gender: Male
- Occupation / Profession: Investment Banker and Financial Executive
- Nationality: American
- Race / Ethnicity: White
- Religion: Christianity
- Sexual Orientation: Straight
John Thain Birthday
- Age / How Old?: 68 Years (2023)
- Zodiac Sign: Gemini
- Date of Birth: 26 May 1955
- Place of Birth: Antioch, Illinois, United States
- Birthday: 26 May
John Thain Body Measurements
- Body Measurements: To be Updated
- Height / How Tall?: Average
- Weight: Moderate
- Eye Color: Drak Brown
- Hair Color: Dark Brown
- Chest Size: To be Updated
- Waist Size: To be Updated
John Thain Family and Relationship
- Father (Dad): Alan
- Mother: To be Updated
- Siblings (Brothers): Dennis and Robert
- Marital Status: Married
- Spouse/Wife: Married to Carmen Thain
- Dating/Girlfriend: Not Applicable
- Children: Son (Alex Thain) Daughter(s) (Victoria Thain, Nicole Thain)
John Thain Networth and Salary
- Net Worth: $100 million
- Salary: To be Updated
- Source of Income: Investment Banker and Financial Executive
John Thain House and Cars
- Place of living: To be Updated
- Cars: Car Brand to be Updated
John Thain Early Career Experiences
Thain began his career at Goldman Sachs in 1979, where he operated in the firm’s investment banking division. He ultimately rose to become the co-head of the division in 1994. In 2004, Thain was appointed CEO of the New York Stock Exchange (NYSE), where he was accountable for managing the exchange’s transition from a not-for-profit organization to a for-profit company.
However, Thain was also instrumental in the NYSE’s merger with Archipelago Holdings, which created the first fully electronic stock exchange. He served as CEO of Merrill Lynch from 2007 to 2008, where he was tasked with turning around the struggling investment bank in the midst of the global financial crisis.
Nonetheless, his tenure at Merrill Lynch was controversial, as he was criticized for his handling of the bank’s losses and for his use of company funds to refurbish his office. After departing Merrill Lynch, Thain joined CIT Group as its CEO in 2010. Thain led CIT through a successful restructuring and allowed the company returns to profitability.
John Thain Rise to Fame
In 2004, Thain was appointed CEO of the New York Stock Exchange (NYSE), one of the world’s largest and most prominent stock exchanges. Under his leadership, Thain oversaw the NYSE’s transformation from a non-profit organization to a publicly traded for-profit company. He also led the NYSE’s merger with Archipelago Holdings, which helped to modernize the exchange. This contributed to his rose in fame.
Thain rose to fame after he was appointed CEO of Merrill Lynch, one of the world’s largest investment banks in 2007. He took on the role during a challenging time for the company, as it was struggling with losses related to the subprime mortgage crisis. Thain is credited with stabilizing Merrill Lynch and helping to negotiate its sale to Bank of America in 2008.
After leaving Merrill Lynch, Thain joined CIT Group as its CEO in 2010. He also led the company through a successful restructuring, and under his leadership, CIT Group returned to profitability.
John Thain Merrill Lynch
Thain is a former CEO of Merrill Lynch, one of the largest investment banks in the United States. He became CEO of Merrill Lynch in December 2007, at a time when the financial industry was in upheaval due to the subprime mortgage problem. Thain was brought in to turn the company around and rejuvenate investor confidence.
Under his leadership, Merrill Lynch was sold to Bank of America in September 2008. Thain was condemned for his management of the company, especially for his handling of executive bonuses and for the large losses incurred by Merrill Lynch in the fourth quarter of 2008.
Nevertheless, Thain was also known for his lavish spending habits, including spending over $1 million to renovate his office at Merrill Lynch, which included a $35,000 commode. Thain was eventually forced to resign from Bank of America in January 2009, amid public outcry over his management of Merrill Lynch and his spending habits.
Since leaving Bank of America, he has held various executive positions in the financial industry, including serving as CEO of CIT Group and chairman of LendingClub.
John Thain House
After serving in top executive roles at places like Goldman Sachs, the New York Stock Exchange and Merrill Lynch, John A. Thain is now ready to make another big move. However, he and his wife, Carmen M. Thain, are selling their duplex penthouse at the venerable 740 Park Avenue co-op building, at East 71st Street, which they had been using as a pied-à-terre for the last several years.
Also, the asking price is $39.5 million, according to the listing broker, John Burger of Brown Harris Stevens, with monthly maintenance of $19,215.
John Thain Goldman Sachs
Thain is a famous American businessman who has had a successful career in the financial industry. He is possibly best known for his term as CEO of Merrill Lynch, where he was credited with turning around the struggling investment bank.
Regardless, before his time at Merrill Lynch, Thain spent 25 years at Goldman Sachs, where he performed his way up the ranks to become president and co-COO of the firm. During his time at Goldman Sachs, he was known for his expertise in the technology sector, and he also played a key role in the firm’s growth in that area.
Thain left Goldman Sachs in 2004 to become CEO of the New York Stock Exchange (NYSE), where he was tasked with updating the exchange and enhancing its technology. He led the NYSE through a period of considerable change, including its acquisition of Archipelago Holdings and its following change into a publicly traded company.
Also, in 2007, he left the NYSE to become CEO of Merrill Lynch, which was struggling at the time due to the subprime mortgage crisis. He is widely credited with stabilizing the firm and dealing with its sale to Bank of America during the height of the financial crisis in 2008.
John Thain Accomplishments
- In 2007, Thain was appointed CEO of Merrill Lynch during a challenging time for the company. He helped to stabilize the bank and negotiated its sale to Bank of America in 2008.
- Thain joined CIT Group as its CEO in 2010, leading the company through a successful restructuring and helping it to return to profitability.
- Thain has also been involved in philanthropic efforts throughout his career.
- Thain spent over two decades at Goldman Sachs, rising to the position of co-head of the investment banking division in 1994. During his time at the firm, Thain worked on several high-profile deals, including the initial public offering of Lucent Technologies.
- Thain was appointed CEO of the New York Stock Exchange (NYSE) in 2004. Under his leadership, the NYSE went through a significant transformation, including the merger with Archipelago Holdings, which created the first fully electronic stock exchange.
John Thain Legacy
Thain’s leadership roles at companies such as Merrill Lynch, the NYSE, and CIT Group have earned him standing as an effective and skilled business executive. He is credited with successfully navigating challenging situations and turning struggling companies around.
Thain’s legacy is also marked by controversy, particularly during his time at Merrill Lynch, where he faced criticism for his handling of losses related to the subprime mortgage crisis and for his use of company funds to renovate his office.
John Thain Quotes
Frequently Asked Questions About John Thain
John Thain is a well-known American investment banker and financial executive who acted as the CEO of the New York Stock Exchange and thereafter became co-COO and President of Goldman Sachs. Thain also then became the last chairman and CEO of Merrill Lynch before its merger with Bank of America.
Thain is an American national born on 26 May 1955, in Antioch, Illinois, United States.
Thain stands at an average height, he has not shared his height with the public. His height will be listed once we have it from a credible source.
Thain is currently married to his lovely wife Carmen Thain who is also an active member of the NYBG Board.
Thain has an approximate net worth of $100 million. This amount has been accrued from her leading roles as an Investment Banker and Financial Executive.
Details about Thain salary are not yet disclosed. However, information about how much he makes will be updated as soon as it is available.
Thain is a resident of New York state, USA, we shall upload pictures of his house as soon as we have them.
Thain is alive and in good health. There have been no reports of him being sick or having any health-related issues.
Thain is currently a board member of Uber appointed by former Uber chief executive officer Travis Kalanick on September 29, 2017.
John Thain Contacts
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