John Thain, Former Merrill Lynch CEO, Resigns from Bank of America

John Thain, the former CEO of Merrill Lynch, has resigned from his new position at Bank of America, three weeks after the two financial institutions merged.

According to Bank of America spokesman Robert Stickler “Ken Lewis (CEO of BOA) flew to New York today to talk to John Thain, and it was mutually agreed that his situation was not working out and he would resign.”

Thain had been in charge of the combined wealth management divisions of the newly merged bank.

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