Thain chooses Chai as Merrill CFO

Nelson Chai was executive vice president and chief financial officer of NYSE Euronext Inc.

Merrill Lynch & Co. Inc. has named Nelson Chai as its new chief financial officer, effective Dec. 10.
He will replace Jeffrey N. Edwards, who will be given a new executive role that has yet to be announced.
Mr. Chai was executive vice president and chief financial officer of NYSE Euronext Inc. and its predecessor company NYSE Group Inc., since January 2006.
Prior to that, he was the chief financial officer of Archipelago Holdings from 2000 to 2005.
John Thain, the former chief executive of the exchange operator, was named chief executive of Merrill last month (InvestmentNews, Nov. 14) .
“Nelson was a key adviser to me and the board of directors at NYSE,” said Mr. Thain, in a statement.
“I am very confident he will be a welcome and important contributor to our success at Merrill Lynch.”
Mr. Thain replaced E. Stanley O’Neal, who resigned after the company announced a $7.9 billion third quarter write-down earlier this year.