Former Merrill CEO May Join Hedge Fund

Sep 26 2008 | 1:04pm ET

With his old firm making a quiet departure from the Wall Street stage, former Merrill Lynch CEO Stan O’Neal may be planning a comeback.

O’Neal, the first CEO casualty of the credit crisis, may join Vision Capital Advisors, a $720 million New York hedge fund and private equity shop, the Financial Times reports. O’Neal is yet to make a decision, and is looking at other options in addition to Vision.

O’Neal was forced out of Merrill last year after four years at the top, taking the blame for billions of dollars in writedowns and losses linked to the subprime mortgage market collapse. He took home a much-criticized $160 million severance package.

Vision focuses on small- and mid-sized growth companies, according to its Web site. It was founded by former Rose Glen Capital head trader Adam Benowitz.

O’Neal’s successor, former NYSE Group CEO John Thain, earlier this month sold the firm to Bank of America for about $50 billion.


In Depth

Q&A: Star Mountain's Brett Hickey On Investing In 'The Growth Engine Of America'

Sep 22 2017 | 5:06pm ET

Lower middle-market companies form the economic fabric of the nation, but they can...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Don’t Overlook These 6 Hybrid Cloud Concerns

Sep 14 2017 | 6:27pm ET

Cloud-based technology solutions have made tremendous inroads into the alternative...

 

From the current issue of

Business Insider has been reporting on the unusual trading activity of a mystery trader who placed a profitable short equity bet to the tune of $21 million on the Aug. 10 move in the CBOE Volatility Index (VIX).