Mon, Feb 03, 2003 - Page 6 News List

Charles Schwab to give up CEO spot

BROKERAGES The company said Schwab's move would bring the company in line with new standards of corporate governance. ETrade made a similar move last week

NY TIMES NEWS SERVICE , NEW YORK

None of the biggest firms on Wall Street have split their two top jobs permanently. At Merrill Lynch, David H. Komansky will remain chairman until April when he will yield that title to E. Stanley O'Neal, who succeeded Komansky as chief executive last year, a firm spokesman said.

At the Goldman Sachs Group, Henry M. Paulson Jr., who has criticized the governance of other companies, is chairman and chief executive. A Goldman spokesman said the firm had no plans to separate the jobs because it already had an independent board.

Citigroup, JP Morgan Chase, Morgan Stanley, Lehman Brothers Holdings and Bear Stearns each have one man serving as chairman and chief executive.

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