John Thain, center, CEO of the NYSE Group, toasts Henri de Castries, foreground, CEO of AXA, at an awards dinner at the Four Seasons Restaurant in New York on 8 November 2006. Thain later joined Merrill Lynch as CEO in 2008. He reportedly spent $1.22 million to renovate two conference rooms, a reception area and his office, including a $35,000 commode and a $1,400 wastebasket. Following the crash, Merrill was bought by Bank of America and several months later, Thain resigned from BofA.