Merrill, Citigroup search for sucessors

Merrill Lynch & Co. Inc. might have to buy out Laurence Fink’s $400 million stake in BlackRock Inc. if it wants him to succeed E. Stanley O’Neal as chairman.
The buyout would be necessary to avoid exposing Mr. Fink, BlackRock’s chief executive, to a potential conflict of interest, according to the Financial Times.
Meanwhile, Citigroup Inc. is also searching for a new chief executive in the wake of the departure of Charles O. Prince.
The frontrunner is Jamie Dimon, chairman and chief executive of JPMorgan Chase & Co., according to reports.
But a source close to Mr. Dimon said: “He would never consider it,” according to FT.
Sandy Weill, Citi’s former chairman and chief executive, is reported by CNBC to be offering his services as a temporary solution.
However, people familiar with the Citi board say this is out of the question.
Vikram Pandit, Citigroup’s head of alternative investments, is seen as a leading internal contender, but critics point to his lack of experience in retail businesses or high-profile public positions, according to published reports.
John Thain, head of NYSE Euronext Inc., also has a lack of experience running a large organization and could be very expensive, but is considered a strong candidate to lead both Merrill and Citigroup.
Citigroup and Merrill are both based in New York.