Resignations: From Stocks to Racetracks

As the founder and chairman of First Jersey Securities, Robert Brennan appeared in TV commercials, hopping out of his helicopter and imploring viewers to "come grow with us." Apparently, the message got through. Since 1980 his firm has increased its number of clients from 200,000 to 500,000. But Brennan revealed last week that he will resign as chairman and look for new growth opportunities elsewhere.

Brennan, 42, who will remain on First Jersey's board of directors, will now devote more time to running a philanthropic organization that he established. A flamboyant millionaire who breeds Thoroughbred horses, he will also oversee a racetrack management firm that he helped take public in 1981. He says he may eventually run for political office.

But Brennan's successors will have a few less glamorous matters to attend to. First Jersey, which has previously been investigated by federal securities officials, is again the target of Government probes: one involving allegations of stock manipulation and another that deals with illegal campaign contributions. While admitting that the well-publicized investigations have left "battle scars," Brennan denies the charges against First Jersey and maintains that they had no bearing on his decision to resign.