place of the old backslapping collegiality. David Komansky, who anointed O'Neal as his successor in 2001. Thain has also met with O'Neal, "simply seeking his thoughts and any insights or advice he had.
" He won't describe their talks beyond that, except Puma Rihanna Creepers to say that they were "constructive," and declines to discuss his predecessor's tenure, the only subject that prompts a "no comment" from Thain. Thain clearly believes that his predecessor emphasized the wrong Goldman virtues. Sure, Goldman engages in high stakes bets, but it is organized in a way that places maximum emphasis on risk management. O'Neal left out that part. So Thain's Goldmanizing of Merrill has a different flavor: He is removing the silos of the past, dismantling hierarchies and cliques that kept departments isolated from one another. His revamping of the compensation system is also in the Goldman way, a sharp departure from O'Neal's "every man for himself" pay structure.
kept Goldman from being ensnared by the complexity of the new generation of financial instruments. If Thain comes across as a no nonsense, small town type, it's because that's what he is. His father, Alan, the son of a dairy farmer, struck out on his own to study medicine. Dr. Thain practiced on Main Street in Puma Velvet Suede
While the "everyone sups from the same bowl" approach has been known to prompt defections to hedge funds where risk management is often viewed as a barrier to brilliance it has so far Puma Fenty Shoes Pink
the top is someone they can relate to, talk to, feel like he gets and understands the culture," McCann says. "In that week, with all that was going on, he took the time to go out there. "The word culture is mentioned a lot at Merrill, in much the same way that nostalgic New Yorkers talk about the Polo Grounds. In a conscious effort to mimic Goldman Sachs, O'Neal had set out to overhaul the old Merrill culture, which he viewed as an inbred network that favored contacts over merit. He ratcheted up Merrill's trading ventures, bought subprime securities, and instilled a dog eat dog ethos in Puma Creepers Womens White