John Thain Net Worth 2024, Age, Height, Bio, Birthday, Wiki!

Explore John Thain net worth, age, height, bio, birthday, wiki, and salary! In this article, we will discover how old is John Thain? Who is John Thain dating now & how much money does John Thain have?

John Thain Biography

John Thain is one of the most popular and richest Businessman who was born on May 26, 1955 in Antioch, Hatay, Turkey.

Thain was born in Antioch, Illinois. 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 earned 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. He is active in social work and served as gala co-chair for a Publicolor event in New York City that honored Rick Segal, Publicolor’s former board chair. Thain and his wife have two daughters and two sons.

In December 2003, interim chairman John Reed at the New York Stock Exchange told The Wall Street Journal that Thain would be paid “a plain vanilla number”, about $4 million a year including bonus, with no “strange retirement” program like the one former NYSE CEO Dick Grasso was given.

Ethnicity, religion & political views

Many peoples want to know what is John Thain ethnicity, nationality, Ancestry & Race? Let's check it out! As per public resource, IMDb & Wikipedia, John Thain's ethnicity is Not Known. We will update John Thain's religion & political views in this article. Please check the article again after few days.

Upon joining Merrill Lynch, Thain received a $15 million signing bonus. The firm announced that Thain would receive at least $50 million a year and could be paid as much as $120 million a year, based on the company’s stock price. The Associated Press identified Thain, who received $83.1 million, as one of the best paid executives of S&P 500 companies in 2007. In that year, Thain earned a total compensation of $83,785,021, which included a base salary of $750,000, a cash bonus of $15,000,000, stock grant of $33,013,151, and options grant of $35,017,421.

John Thain Net Worth

John Thain is one of the richest Businessman from Turkey. According to our analysis, Wikipedia, Forbes & Business Insider, John Thain's net worth $5 Million. (Last Update: December 11, 2023)

John Alexander Thain (born May 26, 1955) is an American businessman, investment banker, and former chair and CEO of the CIT Group.

Thain reportedly was one of the runners-up to head Citigroup. Merrill Lynch and Citigroup sought new leaders following the sudden departure of their former CEOs after the disappointing performance in the third quarter of 2007 due to the subprime mortgage crisis.

Thain suggested to the directors that he receive a bonus in 2008 of as much as $10 million, because he “saved Merrill” by selling it off to Bank of America. After the compensation committee at Merrill refused the request, Thain reportedly dropped it on December 8, 2008.

Height, Weight & Body Measurements

John Thain height Not available right now. Jonas weight Not Known & body measurements will update soon.

Before he came to Merrill, Thain had been 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 January 29, 2009, President Obama publicly criticized the large bonuses such as those handed out by Thain. Obama said: “I saw an article today indicating that Wall Street bankers had given themselves $20 billion worth of bonuses at a time when most of these institutions were teetering on collapse and they are asking for taxpayers to help sustain them, and when taxpayers find themselves in the difficult position that if they don’t provide help that the entire system could come down on top of our heads—that is the height of irresponsibility. It is shameful. And part of what we’re going to need is for folks on Wall Street who are asking for help to show some restraint and show some discipline and show some sense of responsibility. The American people understand that we’ve got a big hole that we’ve got to dig ourselves out of—but they don’t like the idea that people are digging a bigger hole even as they’re being asked to fill it up.” Vice President Joe Biden also said the bonuses “offends the sensibilities. I mean, I’d like to throw these guys in the brig.”

Who is John Thain Dating?

According to our records, John Thain married to Carmen Thain. As of December 1, 2023, John Thain’s is not dating anyone.

On January 27, 2009, New York Attorney General Andrew Cuomo issued a subpoena to Thain in a probe into the bonuses he received just days before the Bank of America takeover. Charges of criminal fraud can be brought under the 1921 Marin Act against a person receiving an illicit executive payout.

Facts & Trivia

Jonas Ranked on the list of most popular Businessman. Also ranked in the elit list of famous people born in Turkey. John Thain celebrates birthday on May 26 of every year.

On January 23, 2009, President Obama referred to John Thain by saying “the reports that we’ve seen over the last couple of days about companies that have received taxpayer assistance then going out and renovating bathrooms or offices or in other ways not managing those dollars appropriately.” Obama’s press secretary Robert Gibbs also said taxpayer money shouldn’t go to “line the pockets of people” who’ve gotten financial assistance. “The American people need to be greatly assured that their hard-earned money is not going to the bonuses or the remodeling of an office at a bank that’s in trouble,” Gibbs said.

Where is John Thain today?

Thain currently serves on Deutsche Bank’s (DB) supervisory board and was previously a senior exec at Goldman Sachs (GS) and CEO of NYSE Euronext.

Who was the CEO of Merrill Lynch in 2008?

When John Thain became Merrill Lynch’s CEO in early 2008, he hired Michael S. Smith Design to revamp his office suite, spending approximately $1.22 million according to documents.

Who is Andy Sieg?

Andy Sieg is president of Merrill Wealth Management and a member of Bank of America Corporation’s executive management team.

How much does the CEO of an investment bank make?

What did Merrill Lynch do wrong?

Sadly, he ran afoul of Merrill’s board when he tried to peddle the firm to Bank of America and then Wachovia shortly after he learned of the mishap with all those subprime mortgage bonds. The problem was: He had failed to run the not-so-inconsequential idea of a merger or acquisition past the board first.

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