Prior to his current activities which specializes in SME financing CIT Group Thain was from December 2007 to January 2009 CEO of the investment bank Merrill Lynch & Co.. On 22 January 2009 resigned John Thain from this post. The withdrawal was apparently in connection with allegations of excessive expenditure and early bonus payments to Merrill Lynch manager in December 2008, ie immediately prior to the acquisition of Merrill Lynch by Bank of America.
Before that, Thain CEO of the Stock Exchange operator NYSE Euro Next Inc., which emerged from the merger of the NYSE and the Euro Next in June 2006. Since 2004, Thain was CEO of NYSE, whose IPO in 2006, he drove forward decisively. Previously, he was at Goldman Sachs, most recently as President and COO.
Thain has a bachelor's degree in electrical engineering from MIT (1977) and an MBA Harvard (1979).