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CEO Sack Race - Updated With Your Comments

Merrill CEO Stan O'Neal is toast, and is expected to stand down any moment now. Citi boss Chuck Prince is stubbornly hanging on, and Bear Stearns CEO Jim Cayne appears to have survived. ABN AMRO boss Rijkman Groenink walks off into the sunset later this week, and former UBS CEO Peter Wuffli was forced to walk the plank a few weeks back. So, there's a lot been going on in the CEO space at the moment.

More Losses Possible In Q4 At UBS Investment Bank

Reuters reports that UBS has posted a $622m loss in the third-quarter, after $3.6bn in write-downs sustained on US subprime-related assets in the period. The bank said that, although all business units currently remain profitable in the fourth-quarter, the fixed income, currencies and commodities business 'remains exposed to further deterioration in the US housing and mortgage markets'. A Q4 loss over at the investment bank cannot therefore be ruled out.

The 2007 Bonus Round - Your Comments

We're busy getting your views on the 2007 bonus round. Here's some of the comments you have made when giving your opinion in our Martin Ward Anderson-sponsored 'Bonus Anticipation' Poll:

UBS Says It Might Not Be Out Of The Woods Yet

UBS came out at the weekend and issued a statement about its third-quarter profit, due to be announced Tuesday. After sustaining some $3.3bn in fixed income losses related to US subprime lending, the bank's third-quarter loss will come in between $517m and $690m as previously indicated. The bank says that the fourth-quarter has started well, but is making no assumptions that this will continue in the coming weeks.

So Who Might Merge With / Take Over Merrill Lynch ?

Merrill CEO Stan O'Neal finally cooked his goose by making that unauthorized call to Wachovia boss Ken Thompson earlier this month to sound him out about a possible merger. With many thinking that a deal with Wachovia was never really on, Here Is The City wonders just which firms are big enough to acquire or merge as equals with 'Mother' Merrill.

Gone In 60 Months - Under Fire CEO Out

It's only a matter of time. With Merrill's shares rising some 8% Friday on rumours that CEO Stan O'Neal was toast, the firm's 11-person board met for 2 days over the weekend to officially seal his fate. Stan's out after just short of 5 years at the helm. The smart money says that an announcement will be made later today (Monday).



The Pope

The Pope Resigns

Pope Benedict said on Monday he will resign on February 28 because he no longer has the strength to fulfil the duties of his office, becoming the first pontiff since the Middle Ages to take such a step.