Republic's Odd Couple Gets A Quickie Divorce

It was an unlikely partnership--Peter A. Cohen, the high-profile former chairman of Shearson Lehman Hutton Inc., and Edmond J. Safra, the publicity-shy, risk-phobic billionaire banker. When Safra named his longtime friend in '92 to set up an ambitious new venture on Wall Street, Republic New York Securities Corp., industry insiders doubted the partnership would last. They were right. In a rapid-fire series of events over the past few days, Cohen was stripped of authority over the firm, and a dozen of his key staffers were fired. So it was no surprise when Cohen announced his own departure on May 10.

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