Eric J. Gleacher, a 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 as chairman comes months after his struggling firm hired Credit Suisse to explore a sale.
Gleacher to Leave His Investment Bank [DealBook]
Eric Gleacher Leaving Gleacher [WSJ]
We have good news for those of you who do business with/in the Bundesrepublik: Angela Merkel is going to be re-elected.
With his attentions now focused elsewhere, Bill Ackman has no time to make three-hour presentations about why Canadian mall owner General Growth Properties should be sold, post-haste. Also: The company he wanted to buy GGP* didn't want it anymore. So he's picking up his toys and going home.
He also said he'd cut it off himself, which seems more intense than having someone else do it for you. (Reader poll?)
For all their saber-rattling and bold talk about a final solution to the problem of global financial risk, the Germans haven't done a hell of lot to rein in their banks. There is, for instance, no Großdeutschesvolckerregierung. At least, not yet.