Exhibit 99.1
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News |
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Merrill Lynch & Co., Inc. |
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World Headquarters
4 World Financial Center
New York, New York 10080 |
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Release date: November 14, 2007 |
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For information contact:
Media Relations:
Jason H. Wright (212) 449-3535
Jason_wright@ml.com |
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Investor Relations:
Sara Furber (866) 607-1234
Investor_Relations@ml.com |
JOHN A. THAIN NAMED
CHAIRMAN AND CHIEF EXECUTIVE OFFICER
OF MERRILL LYNCH
NEW YORK, November 14, 2007 — Merrill Lynch & Co., Inc., (NYSE: MER) today announced
that John A. Thain, Chief Executive Officer, Director and Member of Management Committee of NYSE
Euronext, Inc. and former President and Chief Operating Officer of Goldman Sachs Group, has been
appointed Chairman and Chief Executive Officer of Merrill Lynch effective December 1, 2007.
Alberto Cribiore, Merrill Lynch’s Interim Non-Executive Chairman and Chairman of the Company’s
Search Committee commented, “John Thain is the right person to become the new Chairman and CEO of
Merrill Lynch. He brings unparalleled leadership experience and knowledge of the complexities of
global capital markets as well as the skills required to operate a large financial services
company. John will be adept at balancing the focus on risk management and controls while taking the
steps necessary to ensure the Company evolves and grows. He
understands both the Company’s challenges, and as his track record shows, he appreciates the value associated with the
Merrill global brand. We are delighted to welcome him aboard.”
Cribiore continued, “On behalf of the Board of Directors, I want to sincerely thank all of our
people for their continued focus and commitment to our company during this interim period.”
-MORE-
Mr. Thain said, “I am excited and honored to have the opportunity to lead such an outstanding
organization. Merrill Lynch is a leader in global wealth management, investment banking and sales
and trading. I look forward to working with an incredibly talented group of people with a terrific
brand and reputation. I am certain that together we can continue to grow Merrill’s global business
and add value to our customers and our shareholders.”
Mr. Thain, 52, joined the NYSE on January 15, 2004, serving as Chief Executive Officer and a
Director. Prior to joining the NYSE, he served as president and chief operating officer of Goldman
Sachs Group, Inc. since July 2003 and was previously president and co-chief operating officer from
May 1999 through June 2003; he had been a director since 1998. He was president and co-chief
operating officer of The Goldman Sachs Group, L.P. in 1999. From 1994 to 1999, he served as chief
financial officer and head of operations, technology and finance. From 1995 to 1997, he was also
co-chief executive officer for European operations.
Mr. Thain is a member of The MIT Corporation, the Dean’s Advisory Council — MIT/Sloan School
of Management, INSEAD — U.S. National Advisory Board, the James Madison Council of the Library of
Congress and the Federal Reserve Bank of New York’s International Capital Markets Advisory
Committee. He is also a member of the Board of Managers of The New York Botanical Garden, a member
of the Board of Directors of the French-American Foundation, a trustee of New York-Presbyterian
Hospital and a General Trustee of Howard University.
Mr. Thain received an MBA from Harvard University in 1979, and a B.S. degree from
Massachusetts Institute of Technology in 1977.
About Merrill Lynch
Merrill Lynch is one of the world’s leading wealth management, capital markets and advisory
companies with offices in 38 countries and territories and total client assets
of approximately $1.8 trillion. As an investment bank, it is a leading global trader and
underwriter of securities and derivatives across a broad range of asset classes and serves as a
strategic advisor to corporations, governments, institutions and individuals worldwide. Merrill
Lynch owns approximately half of BlackRock, one of the world’s largest publicly traded investment
management companies, with more than $1 trillion in assets under management. For more information
on Merrill Lynch, please visit www.ml.com.
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