CIT names ex-Merrill CEO Thain as chairman, CEO (AP)

On February 8, 2010, In Business, Business Advice, Business News, Energy, Finance, Media, Retail, Technology, Top Stories, UK Business, US Business, world, By Yahoo! News: Business News

FILE - In this Jan. 29, 2005 file photo, then CEO of the New York Stock Exchange John Thain speaks at the World Economic Forum in Davos, Switzerland. Thain, who brokered Merrill Lynchs' controversial sale to Bank of America, is taking over as chairman and CEO of CIT Group Monday, Feb. 8, 2010, as the commercial lender continues to restructure its business following a brief stay in bankruptcy protection last year.(AP Photo/Michel Euler, file)AP - John Thain is getting a second chance.


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CIT, emerging from bankruptcy, hires Thain as CEO

On February 8, 2010, In Business, Business Advice, Business News, Energy, Finance, Media, Retail, Technology, Top Stories, UK Business, US Business, world, By Reuters: Business News
NEW YORK (Reuters) - CIT Group Inc has hired former Merrill Lynch CEO John Thain as its new chief executive, the commercial lender said late on Sunday, wagering that the well-traveled executive can guide its post-bankruptcy turnaround.
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