Godfather of 1980s Wall Street dealmaking Gleacher to retire

Michael Bow
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VETERAN Wall Street rainmaker Eric Gleacher, famed for his role in the fraught takeover of RJR Nabisco in the 1980s, yesterday resigned as chairman of Gleacher & Co, the firm he founded 22 years ago.

Gleacher, who is 73, said he was leaving to focus on other business ventures outside of Gleacher. The decision to step down comes after the firm said it was exploring the potential sale of the New York based company last year.

Gleacher, one of Wall Street’s most famed dealmakers, founded the M&A department at Lehman Brothers 34 years ago.

As the head of M&A at Morgan Stanley, he advised private equity firm Kohlberg Kravis & Roberts in its hostile takeover of RJR Nabisco.

He featured in the bestselling business book “Barbarians at the Gate” about the deal, cementing his dealmaking credentials.