Merrill Lynch & Co. (MER) continues its executive shuffle, as the company named Nelson Chai as the new chief financial officer. Current CFO Jeffrey Edwards will be transferred to another operating position in the company.
Chai is now the CFO of NYSE Euronext (NYX), and is following a similar pat that John Thain just took, who was named CEO of Merrill in November. Thain also was the CEO of the stock exchange operator.
Thain, who knows and is comfortable with Chai, said about the appointment, "Nelson was a key adviser to me and the board of directors at NYSE. He will be a welcome and important contributor to our success at Merrill Lynch."
Merrill is positioning itself to go forward after a horrendous year where they had to write-down somewhere around $8 billion in mortgage-related securities, the reason for the changes in leadership in the company.
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