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FORMER BOSS OF MERRILL LYNCH MOVES TO CIT GROUP

ABOVE: John Thain is the new chairman and chief executive of troubled US lender CIT Group
9th February 2010

By Daily Star Reporter

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JOHN Thain, the former boss of Wall Street bank Merrill Lynch, is the new chairman and chief executive of troubled US lender CIT Group.


The package is worth up to £4.8billion, including a salary of £320,000. Thain infamously spent £770,000 redecorating his offi ce, but repaid the money.

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