Stan O'Neal
Born: Oct. 7, 1951, Roanoke, Ala.
Company: Merrill Lynch & Co.
Position: Chairman of the Board, Chief Executive Officer and President
Industry: Financial Services
Country: United States
Stan O'Neal, Chairman of the board, chief executive officer and president, Merrill Lynch & Co, 2003 to October 30, 2007.
He headed one of the world's leading personal and institutional financial management and advisory firms, with offices in 36 countries and total client assets of approximately $1.5 trillion.
Mr. O'Neal became chief executive of the company in December 2002 and was elected chairman in April 2003. He has held a series of increasingly responsible positions since joining the company in 1986 as vice president of investment banking.
He was named president and chief operating officer in July 2001 and served as president of Merrill Lynch's U.S. Private Client group from February 2000 until July 2001. He served as executive vice president and chief financial officer of Merrill Lynch from 1998 until 2000 and also held the position of executive vice president and co-head of the Corporate and Institutional Client Group (now Global Markets & Investment Banking) prior to that. Previously, Mr. O'Neal had been in charge of Capital Markets and a managing director in investment banking, heading the financing services group, which included the high yield finance, restructuring, real estate, project and lease finance, and equity private placement groups.
Before joining Merrill Lynch, Mr. O'Neal was employed at General Motors Corporation in New York and Madrid. He held a number of financial positions at the company, including general assistant treasurer in New York, responsible for mergers, acquisitions and domestic financing activities.
On 25th of October 2007, Merrill Lynch reported losses of 8.4 billion USD. This was due to the credit crises from the sub-prime mortgage market happed earlier in the year. Under corporate pressure, he resigned from his position at Merrill Lynch on October 30, 2007, leaving with about $160,000,000 (about $90 million in stock, $40 million in options and another $30 million in pension and other benefits).
Mr. O'Neal received a master's of business administration with distinction in Finance from Harvard University and is a graduate of Kettering University (formerly General Motors Institute).
If you like this article then please consider subscribing to our full feed RSS. You can also subscribe by Email and have new posts sent directly to your inbox. You can also subscribe by adding our feed to one of the following services by clicking on the appropriate buttons.
