It looks like NYSE Euronext will not only lose its CEO, but it may also see its CFO join John Thain at Merrill Lynch & Co., Financial News reported. Merrill is reportedly talking with NYSE Euronext CFO Nelson Chai about joining the bank perhaps as the CFO.
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If Chai opts to join Merrill, then he'd become the first major hire under Thain, who officially starts at Merill on Monday. Financial News notes that Chai may be a risky first move for Thain because Chai lacks Wall Street banking experience and only has seven years of experience as a CFO.
The former NYSE chief was tapped to succeed Stan O'Neal, who was forced to retire last month. Thain will likely add a few more high-level managers, but won't completely overhaul the firm's executive team, people who have spoken with him told Financial News.
— Matthew Wurtzel
See story from Financial News
See story from TheDeal.com: Thain to take over at Merrill
See story from TheDeal.com: Merrill's O'Neal steps down
