Eric Gleacher, the 1980s Wall Street rainmaker, has resigned as chairman of his advisory boutique, Gleacher & Co, and will leave the firm as it continues to explore strategic options, including a possible merger with another company.

One of the biggest dealmakers among an earlier generation of bankers, Gleacher had a hand in building the merger advisory practices at Lehman Brothers and Morgan Stanley before breaking out on his own in 1990 at Gleacher Partners, a predecessor firm to the current Gleacher & Co.