Eric J. Gleacher, the veteran deal maker who participated in the fight over RJR Nabisco, said on Tuesday that he would leave the investment bank he founded about 23 years ago.
The departure of Mr. Gleacher comes months after his struggling firm hired Credit Suisse to explore a sale.
Gleacher & Company disclosed last month that the Nasdaq stock market had initiated a move to delist the investment bank, after its stock price lingered below $1 for months. The firm is appealing the decision.
<>A former Marine and long one of Wall Street’s top golfers, Mr. Gleacher founded his company after having become one of the top deals bankers on Wall Street during the 1980s. He founded the mergers department at Lehman Brothers in 1978, and then led Morgan Stanley‘s deal team from 1985 to 1990.“I simply decided that it was time for me to focus my attention and energy on some exciting business opportunities outside of the firm,†Mr. Gleacher said in a statement. “I wish my talented colleagues at Gleacher & Company all the best as they pursue their careers, compete in the marketplace and grow.â€
