Friday, December 19, 2003

John A. Thain - a top Goldman Sachs executive has been appointed chairman of NYSE. Quoted by John Reed as "someone with knowledge of the markets, who understands the role of technology and is a person of great integrity."

The previous chairman was ousted over aproar due to his $139.5 million pay package, a sum รข€” awarded by a board packed with Wall Street executives and personal friends.

However there have been problems with Thain's conflict of interest due to his holding $300 mn in stock at Goldman Sachs.

Quoting from

Mr. Thain was born in Antioch, Ill., midway between Chicago and Milwaukee, and has worked for 24 years in relative obscurity at Goldman, overseeing the firm's technological operations since 1994 and serving as chief financial officer before becoming president in 1999.

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