McCann: Thain forced me to give up my bonus before Merrill departure
Bob McCann, the former head of the brokerage operation at Merrill Lynch & Co., testified in court that John Thain--the company's former CEO--forced him to give up his 2008 bonus, according to a Bloomberg report.
Bob McCann, the former head of the brokerage operation at Merrill Lynch & Co., testified in court that John Thain–the company’s former CEO–forced him to give up his 2008 bonus, according to a Bloomberg report.
McCann, who is now attempting to get a non-compete clause overruled in a New York State Supreme Court, reportedly said in court that Mr. Thain ordered him to voluntarily forgo his bonus.
“I guess I volunteer, John,” Mr. McCann said to Mr. Thain in December 2008, according to a report in the Wall Street Journal. “Can I go back to work now?”
Mr. McCann, who is said to be pursuing a job as the head of UBS’ wealth management business in the Americas, stepped down from his position at Merrill in January.
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