At the peak of the global financial turmoil last year when banks are shunned by most savvy investors, Temasek shocked many in the finance industry by increasing its stakes in troubled U.S. bank Merrill Lynch.
According to Bloomberg:
“Temasek Holdings Pte, Singapore’s $130 billion sovereign wealth fund, said it has “great confidence” in Merrill Lynch & Co. Chief Executive Officer John Thain”
Merrill has a “great franchise which has existed through many crises through a long period of time,” Michael Dee, Temasek’s senior managing director of international, said in a Bloomberg Television interview yesterday.
Unfortunately, this “great franchise” did not survive the crisis and was acquired by Bank of America last month. Are you aware of this, Mr Michael Dee ?
Apparently Merrill’s new boss, Bank of America CEO Ken Lewis did not share Temasek’s “great confidence” in John Thain. Thain was sacked within 15 minutes after meeting him.
Read rest of article here:
http://wayangparty.com/?p=5333
According to Bloomberg:
“Temasek Holdings Pte, Singapore’s $130 billion sovereign wealth fund, said it has “great confidence” in Merrill Lynch & Co. Chief Executive Officer John Thain”
Merrill has a “great franchise which has existed through many crises through a long period of time,” Michael Dee, Temasek’s senior managing director of international, said in a Bloomberg Television interview yesterday.
Unfortunately, this “great franchise” did not survive the crisis and was acquired by Bank of America last month. Are you aware of this, Mr Michael Dee ?
Apparently Merrill’s new boss, Bank of America CEO Ken Lewis did not share Temasek’s “great confidence” in John Thain. Thain was sacked within 15 minutes after meeting him.
Read rest of article here:
http://wayangparty.com/?p=5333
