Laurence Fink: The King of Wall Street’s chief executive shortlist, Mr Fink has previously been viewed as a key contender for the top jobs at Morgan Stanley and Citigroup. Mr Fink runs the BlackRock investment firm, which is 49 per cent owned by Merrill Lynch and has extensive interest in mortgage-backed bonds, the main source of the group’s woes and in which it has lost a number of senior executives.

Greg Fleming: The co-president of Merrill Lynch is well liked in the group and was a key architect of its takeover of BlackRock. He made his name at Merrill doing financial deals, such as the $14.5 billion merger between Wachovia and First Union. However, he does not have the operational experience of running a large investment bank.

Bob McCann: As head of Merrill’s brokerage arm Mr McCann has not been tainted by the bond fiasco and retains his credibility. He is well liked within the firm, although he doesn’t have Mr Fink’s deep knowledge of the bond market.

John Thain: The chief executive of Euronext NYSE would appear to be the top external candidate for the job. He is a well-regarded chief executive with experience running a big company on Wall Street. He is also a former president of Goldman Sachs, one of the most formidable operations in the financial world.

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