The CEO merry go round

October 14, 2009 | By Jim Kim

CIT chief executive Jeffrey Peek has become the latest big-name CEO to step down amid the gargantuan credit crunch that has proved the undoing of so many top executives.

The list is worth reviewing: Bank of America (BAC) CEO Ken Lewis is leaving, and so is Financial Services Group CEO Ramani Ayer and Morgan Stanley (MS) CEO John Mack. AIG's (AIG) chief executive Ed Liddy left in August. Lehman Brothers' CEO was forced to resign as his company stumbled into bankruptcy court. As they were being taken over by white knights, Bear Stearns, Wachovia and Washington Mutual all had CEO changes. Of course, Bear Stearns' CEO James Cayne was ousted.

This all started two years ago, with the resignation in disgrace by Charles Prince at Citigroup (C) and Stanley O'Neal at Merrill Lynch. So the only thing to ask after reviewing this roster is: Who's next?

For more:
- here's a list compiled by Reuters