Advertisement
YOU ARE HERE: LAT HomeCollectionsStan O Neal
IN THE NEWS

Stan O Neal

FEATURED ARTICLES
BUSINESS
November 3, 2007 | From Reuters
Citigroup Inc. Chief Executive Charles O. Prince is expected to resign this weekend, the Wall Street Journal said, as the widening sub-prime mortgage crisis deals a final blow to a reign long under attack. The largest U.S. bank is expected to hold an emergency board meeting Sunday, at which Prince would step down, the newspaper said Friday, citing people familiar with the situation. Citigroup spokesman Michael Hanretta declined to comment.
ARTICLES BY DATE
BUSINESS
November 3, 2007 | From Reuters
Citigroup Inc. Chief Executive Charles O. Prince is expected to resign this weekend, the Wall Street Journal said, as the widening sub-prime mortgage crisis deals a final blow to a reign long under attack. The largest U.S. bank is expected to hold an emergency board meeting Sunday, at which Prince would step down, the newspaper said Friday, citing people familiar with the situation. Citigroup spokesman Michael Hanretta declined to comment.
Advertisement
BUSINESS
October 29, 2007 | Walter Hamilton, Times Staff Writer
The beleaguered head of Merrill Lynch & Co. has reportedly decided to step down and leave the firm, becoming the first chief of a Wall Street investment bank to be done in by the sub-prime mortgage crisis. Stan O'Neal, who endured withering criticism last week because of Merrill's enormous losses on mortgage-related securities, will quit his post as soon as today, according to a report on the Wall Street Journal's website.
BUSINESS
October 29, 2007 | Walter Hamilton, Times Staff Writer
The beleaguered head of Merrill Lynch & Co. has reportedly decided to step down and leave the firm, becoming the first chief of a Wall Street investment bank to be done in by the sub-prime mortgage crisis. Stan O'Neal, who endured withering criticism last week because of Merrill's enormous losses on mortgage-related securities, will quit his post as soon as today, according to a report on the Wall Street Journal's website.
BUSINESS
November 16, 2007 | From Times Wire Services
The top executives at 16 financial firms with potential or actual losses stemming from the sub-prime mortgage crisis have severance packages averaging $66.4 million, a corporate governance research firm says. The firms, which include Bear Stearns Cos., Goldman Sachs Group, JPMorgan Chase & Co., Morgan Stanley and Lehman Bros. Holdings Inc., had exit packages totaling $1 billion for their chief executives as of Nov. 6, Corporate Library said in a report released Thursday.
BUSINESS
November 8, 2007 | From the Associated Press
Embattled investment bank Merrill Lynch & Co. said Wednesday that federal regulators were investigating matters related to its holdings of high-risk mortgage debt. The Securities and Exchange Commission began the investigation Oct. 24, the world's largest brokerage firm said in a regulatory filing. It did not provide details but said it was cooperating with the inquiry.
BUSINESS
December 7, 2006 | From Bloomberg News
Lehman Brothers Holdings Inc., the fourth-largest U.S. securities firm, said it would pay Chairman and Chief Executive Richard Fuld an extra $188 million over the next 10 years. Fuld was awarded grants a decade ago for about 2.5 million shares, which would have been payable if New York-based Lehman was sold. Instead, the board plans to give Fuld 10 annual installments of 246,395 shares starting next year provided that he stays at the company, according to a regulatory filing dated Dec. 1.
BUSINESS
November 6, 2007 | From Times Wire Services
Merrill Lynch & Co Inc. has offered BlackRock Inc. Chief Executive Laurence Fink the post of CEO of the brokerage, CNBC reported Monday. Merrill has given Fink two weeks to decide whether to accept the offer, CNBC said. A Merrill Lynch spokeswoman declined to comment. Merrill last week ousted Stan O'Neal as CEO amid mounting losses on mortgage-related securities. The company's loan write-downs resulted in a $2.2-billion loss in the third quarter, the biggest in the brokerage's 93-year history.
BUSINESS
November 14, 2007 | From Bloomberg News
Laurence Fink, who helped create the market for mortgage-backed securities, said the credit losses that had cost banks and securities firms $45 billion were about to get worse. Fink, chief executive of New York-based fund manager BlackRock Inc., said Tuesday at an investor conference that "many institutions don't understand what the credit crunch is going to do to earnings and their balance sheet." Financial stocks rallied Tuesday after Goldman Sachs Group Inc.
BUSINESS
October 13, 2004 | From Associated Press
A lethargic summer on Wall Street pressured revenue at Merrill Lynch & Co., resulting in an 8% drop in third-quarter earnings. However, investors sent the company's shares up nearly 3% on Tuesday amid optimism by company officials and research analysts that the fourth quarter would be strong enough to lead the company to post a record year. Shares of the brokerage leaped $1.48, to $52.48, on the New York Stock Exchange. For the three months that ended Sept.
BUSINESS
January 8, 2008 | From Times Wire Services
Bear Stearns Cos. Chief Executive James Cayne is resigning under pressure from shareholders upset over the Wall Street firm's losses amid a slew of problems sparked by the sub-prime mortgage crisis, according to a published report. Cayne, 73, started notifying Bear Stearns directors Sunday that he planned to give up his CEO post but remain as chairman, the Wall Street Journal reported on its website Monday night, citing unidentified people the paper said were familiar with the matter.
BUSINESS
September 8, 2008 | From Bloomberg News
Washington Mutual Inc. plans to oust Kerry Killinger as chief executive after 18 years and replace him with Alan Fishman of Meridian Capital Group, the Wall Street Journal reported, citing people familiar with the matter. Fishman was chief operating officer at Philadelphia-based Sovereign Bank before becoming chairman of Meridian, a New York commercial mortgage broker, the Journal said. Sovereign Bancorp is the second-biggest U.S. savings and loan after Seattle-based Washington Mutual, known as WaMu.
Los Angeles Times Articles
|