Merrill Lynch names new CFO

Chai was previously CFO at NYSE Euronext, and its predecessor company NYSE Group, which he joined in January 2006. Before this he was CFO of electronic exchange Archipelago from 2000 to 2005, before it merged with NYSE to form the NYSE Group.

He follows Merrill’s chief executive John Thain’s recent jump to the bank from the exchange in November. "Nelson was a key advisor to me and the board of directors at NYSE. I am very confident he will be a welcome and important contributor to our success at Merrill Lynch,” says Thain.

Chai succeeds Jeffrey Edwards, who had been the company's CFO since 2005. Edwards will assume a new operating role at Merrill Lynch, which the bank has not yet announced.

See also:
Merrill brings Thain to helm
O'Neal 'retires' as Merrill CEO after $8 billion writedown

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