by Calculated Risk on 10/28/2007 03:23:00 PM

From the WSJ: Merrill Chief O'Neal Decides To Leave Firm, Source Says

Merrill Lynch & Co. Chief Executive Stan O'Neal has decided to leave the firm, according to a person familiar with the matter.

An announcement on his departure could come today or Monday morning ...

There is an old saying in the corporate world: "New broom sweeps clean". With a new CEO, I'd expect more write-downs and a reduction in headcount.