The deal he couldn't close

  @FortuneMagazine June 13, 2013: 7:14 AM ET
GLE01 eric gleacher

Eric Gleacher is killing me on the golf course. It's a sunny morning at the exclusive Seminole club in Juno Beach, Fla., and Gleacher splits every fairway with a sweet draw. I've just pulled two shots out of bounds. Gleacher, Wall Street's top golfer for most of the past three decades, is now 73. He may have lost a couple of strokes with age. But his six handicap would still spark envy in the rivals he fought as Morgan Stanley's top dealmaker back in the 1980s when he advised KKR on its then-record $25 billion RJR Nabisco buyout and orchestrated Texaco's defense against a marauding Carl Icahn.

As a rule, Gleacher doesn't talk business on the course. It's just as well, since business is a painful subject lately. In January he quit as chairman of the New York investment bank that carries his name after losing a fight to sell the struggling company. Things only got worse for the bank after that. Employees continued streaming for the exits, and in June, Gleacher & Co. announced that it will be liquidated or sold.

Join the Conversation
CNNMoney Sponsors
Market indexes are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer LIBOR Warning: Neither BBA Enterprises Limited, nor the BBA LIBOR Contributor Banks, nor Reuters, can be held liable for any irregularity or inaccuracy of BBA LIBOR. Disclaimer. Morningstar: © 2014 Morningstar, Inc. All Rights Reserved. Disclaimer The Dow Jones IndexesSM are proprietary to and distributed by Dow Jones & Company, Inc. and have been licensed for use. All content of the Dow Jones IndexesSM © 2014 is proprietary to Dow Jones & Company, Inc. Chicago Mercantile Association. The market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. FactSet Research Systems Inc. 2014. All rights reserved. Most stock quote data provided by BATS.