John Thain, chief executive of Merrill Lynch, plans to stay at Bank of America after the two merge next year, it was announced yesterday, raising speculation that he could end up running the larger group.
Ken Lewis, BofA chief executive, said Mr Thain, the former head of the New York Stock Exchange, would become president of global banking, securities and wealth management.
In the two weeks since Mr Thain struck a deal with Mr Lewis to sell Merrill for $50bn, there has been speculation across Wall Street about his future.
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