Skip to main content

Merrill Lynch Co-President to quit; Thain gets busy hiring new staff


Merrill Lynch & Co. said on Monday co-President Ahmass Fakahany will leave the company as the brokerage builds a new management team following a credit implosion that triggered US$12-billion in net losses in the second half of 2007.

Fakahany's departure is effective February 1. No replacement was announced.

Before his promotion in May to co-president, Fakahany duties included responsibility for market risk management as Merrill's build-up of risky collateralized debt obligations surged.

Exposure to the subprime-laden debt vehicles backfired. Soured CDO positions were mostly to blame for Merrill's US$24-billion in write-downs last year and huge net losses.


Rest at Financial Times
Labels:

Comments

Post a Comment

Popular posts from this blog

Security: VMware Workstation 6 vulnerability

vulnerable software: VMware Workstation 6.0 for Windows, possible some other VMware products as well type of vulnerability: DoS, potential privilege escalation I found a vulnerability in VMware Workstation 6.0 which allows an unprivileged user in the host OS to crash the system and potentially run arbitrary code with kernel privileges. The issue is in the vmstor-60 driver, which is supposed to mount VMware images within the host OS. When sending the IOCTL code FsSetVoleInformation with subcode FsSetFileInformation with a large buffer and underreporting its size to at max 1024 bytes, it will underrun and potentially execute arbitrary code. Security focus
Post a Comment
Read more

Splunk that!

Saw this advert on Slashdot and went on to look for it and found the tour pretty neat to look at. Check out the demo too! So why would I need it? WHY NOT? I'd say. As an organization grows , new services, new data comes by, new logs start accumulating on the servers and it becomes increasingly difficult to look at all those logs, leave alone that you'd have time to read them and who cares about analysis as the time to look for those log files already makes your day, isn't it? Well a solution like this is a cool option to have your sysadmins/operators look at ONE PLACE and thus you don't have your administrators lurking around in your physical servers and *accidentally* messing up things there. Go ahead and give it a shot by downloading it and testing it. I'll give it a shot myself! Ok so I went ahead and installed it. Do this... [root@tarrydev Software]# ./splunk-Server-1.0.1-linux-installer.bin to install and this (if you screw up) [root@tarrydev Software]# /op
Post a Comment
Read more