Advertising

The Seattle Times Company

NWjobs | NWautos | NWhomes | NWsource | Free Classifieds | seattletimes.com

The Seattle Times

Business / Technology


Our network sites seattletimes.com | Advanced

Originally published October 29, 2007 at 12:00 AM | Page modified October 29, 2007 at 2:01 AM

E-mail article     Print view

Exit of Merrill Lynch CEO reported to be imminent

Stan O'Neal, the beleaguered chief executive of Merrill Lynch, was reportedly close to resigning Sunday amid broad criticism for leading...

NEW YORK — Stan O'Neal, the beleaguered chief executive of Merrill Lynch, was reportedly close to resigning Sunday amid broad criticism for leading the world's largest brokerage to its biggest quarterly loss since its founding 93 years ago.

In a week that included a $7.9 billion write-down related to subprime mortgages and O'Neal's unauthorized overture to sell the company to retail bank Wachovia, the board reached consensus Friday for his dismissal, according to media reports.

O'Neal, 56, would become the highest-ranking casualty of the global credit crisis that swept through Wall Street's biggest investment banks during the third quarter.

An announcement of his departure could come by this morning, according to reports in The Wall Street Journal and The New York Times.

Copyright © 2007 The Seattle Times Company

More Business & Technology headlines...

E-mail article Print view      Share:    Digg     Newsvine

advertising

An 802.11n upgrade could make a big difference

Retailers opening doors on Thanksgiving Day

Google makes concessions on digital book deal

Critics want to block Comcast-NBC deal

Google submits revised book settlement

Advertising

Video

Opening day at Crystal Mountain
Skiers crowded the slopes at Crystal Mountain for one of the resort's earliest openings.

Video shows violent arrest by SPD
Fort Lewis Memorial
Highlights: Ken Auletta talks about "Googled"
Seattle International Cabaret Festival
Ken Auletta talks about "Googled"
Medal of Honor
Pelosi answers questions at Swedish Medical Center
Pelosi speaks at Swedish Medical Center
"Pistol" Pete Ryan

Marketplace

nwautos

2009's most fuel-efficient sedansnew
Choosing a new sedan? Weigh the impact of your choice on your wallet and on the planet.
Post a comment

Open Houses

Find this weekend's open house listings.
Or search by location:

 
Most read
Most commented
Most e-mailed
 
 
Advertising