#Laurence d fink and 2008 full

It reported that while Merrill’s search committee made it clear to Mr. The New York Times, however, had a different take. investigation centered around deals the firm had struck with hedge funds that allegedly masked its exposure to subprime mortgages. The Wall Street Journal reported that the S.E.C. Mortgage-related securities is $27.2 billion, or $6.3 billion more than what it said last month. At the same time, the bank said that its total exposure to The report follows Merrill’s disclosure last week that the Securities and Exchange Commission had begun an inquiry into its mortgage-related holdings. Merrill moved in a different direction and decided to go with Mr.

#Laurence d fink and 2008 full

Fink the post he said he would take the job, but only if Merrill, which last month reported a $8.4 billion write-down, did a full accounting of its subprime exposure. Fink demanded that Merrill make a full accounting of its subprime exposure. Thain as its new chief executive came after Mr. Fink.Īccording to CNBC, Merrill Lynch’s decision to name Mr. Reports differ, although they all seem to agree on one thing: the news blindsided Mr. Thain, the chief of NYSE Euronext and a former Goldman Sachs executive, would take the crown.

Fink that the job wasīut Wednesday, the bank announced that John A. Stanley O’Neal, who resigned in the wake of a multibillion write-down at the investment bank.ĬNBC even reported that Merrill’s board of directors had told Mr. The founder and chief executive of BlackRock, the large investment firm partly ownedīy Merrill, was being widely touted as the front-runner for the position left byĮ. Last week, the smart money seemed to be on Laurence D.