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October 2, 2008

BofA to give former head of Merrill Lynch a major role

Bank of America Corp. this morning said Merrill Lynch & Co. chief executive John Thain will have a major role in the combined company to be created by the merger of the two financial giants. Bringing on Thain, a former Goldman Sachs Group Inc. executive and New York Stock Exchange chief executive, adds a major player in the hunt to eventually succeed Bank of America CEO Ken Lewis, who at 61 faces mandatory retirement in four years.

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