Sunday, 25 September 2016
Last updated 1 day ago
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.