Gleacher & Co chairman resigns

NEW YORK Tue Jan 29, 2013 9:23am EST

NEW YORK Jan 29 (Reuters) - Eric J. Gleacher has resigned as chairman of Gleacher & Co Inc and will leave the broker-dealer he founded in 1990.

The move, announced Tuesday, comes after Gleacher & Co said last year it was exploring the potential sale of the company.

Gleacher, 73, said he wanted to focus on business opportunities "outside the firm."

Gleacher founded the mergers and acquisitions department at Lehman Brothers in 1978 and later headed global mergers and acquisitions at Morgan Stanley.

At Morgan Stanley, he advised private equity firm KKR & Co LP in its high-profile takeover battle for RJR Nabisco, which was featured in the bestselling book "Barbarians at the Gate."

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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