"John Thain brings to the New York Stock Exchange a number of exceptional qualities for which he is widely known: integrity, intelligence, and extensive knowledge of the financial markets," said Mr. Reed. "He is an outstanding choice to lead the Exchange at this critical juncture in our history."
"This is a tremendous opportunity and challenge, and I am deeply honored," said Mr. Thain. "The New York Stock Exchange is the world leader among equities markets and plays a critical role in the global, national and local economies. John Reed and the Board of Directors have asked me to build on the strengths of this great institution, and that's exactly what I intend to do."
Mr. Thain, 48, has been president and chief operating officer of Goldman Sachs Group, Inc. since July 2003 and was previously president and co-chief operating officer from May 1999 through June 2003; he has been a director since 1998. He was president and co-chief operating officer of The Goldman Sachs Group, L.P. in 1999. From 1994 to 1999, he served as chief financial officer and head of operations, technology and finance. From 1995 to 1997, he was also co-chief executive officer for European operations.
He is a member of The MIT Corporation, the Dean's Advisory Council - MIT/Sloan School of Management, INSEAD - U.S. National Advisory Board, the James Madison Council of the Library of Congress and the Federal Reserve Bank of New York's International Capital Markets Advisory Committee. He is also a member of the French-American Foundation, the Board of Trustees of the National Urban League and The Trilateral Commission, as well as a governor of the New York-Presbyterian Foundation, Inc., a trustee of New York-Presbyterian Hospital and a General Trustee of Howard University.
Mr. Thain received an MBA from Harvard University in 1979 and a B.S. degree from Massachusetts Institute of Technology in 1977.
