At Merrill, board member Alberto Cribiore has stepped in as interim non-executive chairman and is leading the search for a new leader.

FORBES: Street Quakes As Another Chief Falls

Chief Executive Stanley O'Neal has finally stepped aside, making way for a board member, Alberto Cribiore, to lead a search for a new chief.

FORBES: O'Neal Steps Aside At Merrill

His swift exit, and the appointment of director Alberto Cribiore as interim nonexecutive chairman, is reminiscent of Philip Purcell's departure from Morgan Stanley two years ago.

FORBES: Magazine Article