Thain expected to ask for $10m bonus from Merrill Lynch

John Thain, chief executive of Merrill Lynch, is thought to be demanding a $10m bonus from the firm\'s compensation committee despite the investment bank\'s poor performance this year.

The Wall Street Journal reports that Thain is set to meet to make the recommendations for himself and other executives today in a conference with the committee.

Apparently no decision has been reached and there is still wide speculation as to what Thain will suggest.

It is thought the board could deny executives their bonuses across the board as has happened at other high profile institiutions over the past few weeks.