Merrill Lynch has named John Thain, a former Goldman Sachs executive with roots in the mortgage-backed securities business, as its new chief executive officer.Mr. Thain, chief executive and member of the management committee of NYSE Euronext and former president and chief operating officer of Goldman Sachs, is slated to take the post at Merrill starting Dec. 1. A number of news reports indicate that Mr. Thain was among those at Goldman who started an MBS business there in the 1980s and that he had been eyed for a leadership post at Citigroup, a Wall Street firm that -- like Merrill -- saw its top executive depart after a huge subprime-linked loss.
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