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John Thain Net Worth: John Thain is an American investment banker, business executive and now chairman and CEO of the CIT Group that has a net worth of $100 million dollars. John Thain was created on May 26, 1955 in Antioch, Illinois. Thain organized the selling of Merrill to Bank of America at $29 per share, a 70 percent premium on the market price. The deal valued the brokerage at $50 billion. He was designated to become president of international banking, securities, and wealth management in the newly combined firm, but stepped down on January 22, 2009 in the aftermath of many controversies, especially the enormous executive bonuses paid out in the peak of the banking crisis. Before Merrill Lynch, he was the CEO of the Ny Stock Exchange from January 2004 to December 2007. On the evening of February 7, 2010, CIT Group declared that it was hiring Thain to replace interim CEO Peter Tobin instantly.