Gleacher & Company Continues to Expand in Fixed Income

  Gleacher & Company Continues to Expand in Fixed Income

  Hires Managing Directors to Head Up Boston Office and New Washington D.C.
                                    Office

     Continues to Add Accomplished Sales Professionals in New York Office

Business Wire

NEW YORK -- October 15, 2012

Gleacher & Company Securities, Inc., the broker-dealer subsidiary of Gleacher
& Company, Inc. (Nasdaq: GLCH), announced today that the firm has added Martin
Baxter, Thomas Carey, and David Ludlow as Managing Directors, and Joseph
Vendemia, Jeffrey Hingst and Stephen Lei as Directors in the MBS & Rates
Division focusing on institutional account coverage in mortgage and
securitized product sales.

The Gleacher & Company Fixed Income strategy includes a middle market focus,
and therefore growing distribution capabilities in key regional markets. Mr.
Baxter will be responsible, to that end, for building the MBS & Rates platform
in the newly opened Washington D.C. office, and Mr. Carey will do likewise in
Boston. Messrs. Ludlow, Vendemia, Hingst and Lei will join the expanding sales
team in New York.

Thomas Hughes, Chief Executive Officer, said, “Gleacher & Company continues to
recruit highly regarded and talented professionals in each of its core
business units. We have transformed our Fixed Income team these past few
months by hiring proven industry veterans. We are confident that we are
assembling the right team of people to successfully execute our strategy.”

Perrin Arturi and Donald Ullmann, Executive Managing Directors and Co-Heads of
the firm’s MBS & Rates Division, said, “Establishing a presence in Washington
D.C. and adding depth to our Boston and New York offices accomplishes our goal
of opportunistic expansion while strengthening our Fixed Income sales
platform. Following the successful performance of our Chicago office under the
leadership of recently hired Managing Director, Michael Lanigan, we are
confident that there is significant additional opportunity in other key
markets. We are pleased to welcome Martin, Thomas, David, Joseph, Jeffrey and
Stephen to our team to support our sales efforts and further expand our
platform. They bring significant industry expertise and outstanding track
records of performance. We look forward to the contributions they will make to
Gleacher & Company and to the success of our clients.”

Gleacher & Company’s Fixed Income platform provides structured finance,
analytics support, sales and trading services on a wide range of fixed income
products including mortgage and asset-backed securities, U.S. Treasury and
government agency securities, structured products such as CLOs and CDOs, as
well as high yield, investment grade and emerging markets credit products. The
Group has developed strong relationships with institutional investors,
including mutual funds, pension funds, insurance companies, hedge funds,
banks, and investment managers, by providing value-added investment ideas and
access to execution services and inventory capital.

About Mr. Baxter

Mr. Baxter brings more than 25 years of experience in fixed income sales to
Gleacher & Company, most recently serving as a Managing Director at Amherst
Securities Group since 2002 when he opened and managed the Mclean, VA office.
From 2002-2004, he also served as their National Sales Manager. Prior to that,
Mr. Baxter opened the institutional office in Washington, DC for Raymond James
& Associates where he was continually one of the top performers nationwide and
held the title of Senior Vice President. Previously, he was a top performer at
Paine Webber in New York specializing in mortgage related products where he
was promoted several times, ultimately achieving the rank of First Vice
President. He received an MBA from the Darden School of Business at the
University of Virginia and a BA with Distinction in Government & Economics
also at the University of Virginia where he was selected as a DuPont Scholar.

About Mr. Carey

Mr. Carey brings more than 15 years of experience to Gleacher & Company, most
recently serving as a Director of Institutional Sales at Ally Securities
(formerly GMAC Mortgage) and was responsible for opening their Boston office.
Prior to that, he was the Director of Structured Product Sales at Credit
Suisse, responsible for selling structured products to institutional investors
and marketing a wide range of fixed income products that included treasuries,
agencies, corporate bonds and fixed income derivatives. He previously worked
as an Associate in the Taxable Fixed Income Department at Prudential
Securities and as an Associate at CIBC Oppenheimer. Mr. Carey received a BS in
Finance from Boston College.

About Mr. Ludlow

Mr. Ludlow brings more than 30 years of experience to Gleacher & Company, most
recently serving as a Managing Director of Mortgage Sales at Sandler O’Neill &
Partners. Prior to that, he was an Institutional Sales Person for Mortgages
and Structured Products at Raymond James & Associates. From 1998 to 2009, Mr.
Ludlow served in multiple leadership positions at Deutsche Bank Securities
Inc., including Managing Director and Head of Mortgage and Securitized Product
Sales and Senior Institutional Salesman. Previously, he was an Institutional
Salesman for Mortgages and Structured Product at Alex Brown & Sons, Senior
Vice President Mortgage Trading at Kidder Peabody Inc. and Vice President,
Mortgage Trading at Goldman Sachs & Co. He began his career at The Bank of New
York as an Associate Trust Officer. Mr. Ludlow graduated with honors from
Fairfield University with a BS in Economics and he received his MBA in Finance
from Fordham Business School.

About Mr. Vendemia

Mr. Vendemia brings more than a decade of experience to Gleacher & Company,
most recently serving as a Senior Vice President of Institutional Sales at
Pursuit Partners, LLC. Prior to that, he was an Associate in the Securitized
Products Sales division at JP Morgan Securities. Mr. Vendemia was previously
an Assistant Vice President of Regional Institutional Sales - Mortgages at UBS
Securities, responsible for soliciting sales of all mortgage backed products
to the UBS regional institutional sales force and serving as a liaison to the
institutional mortgage backed trading desk. He previously held the role of
Assistant Vice President of Taxable Fixed Income Sales at UBS PaineWebber. Mr.
Vendemia began his career as an Analyst in the Investment Management Asset
Group at Chase Manhattan Corporation. He received a BS in Business
Administration from Youngstown State University.

About Mr. Hingst

Mr. Hingst has more than two decades of fixed income sales and trading
experience and joins Gleacher & Company from Princeridge Group, where he most
recently served as a Director of MBS Sales. Previously he was a Senior Vice
President of MBS Sales at FTN Financial Securities Corp. Prior to that, he was
a Director in MBS Sales at Barclays Capital. Mr. Hingst served for 15 years at
Bear Stearns & Co., most recently as a Senior Managing Director in MBS Sales.
He began his career as a fixed income trader at Statesman Group/American Life
and Casualty Insurance Corporation. Mr. Hingst received a BS in Business
Administration with a concentration in Finance from Drake University.

About Mr. Lei

Mr. Lei brings to Gleacher & Company more than 15 years of fixed income sales,
trading and structured products experience, most recently serving as a
Director in Institutional Sales at KGS-Alpha Capital Markets. Prior to that,
Mr. Lei was an Executive Director in Fixed Income Sales and Trading at Nariman
Point Advisors. Previously, Mr. Lei held positions at HSBC Securities (USA)
Inc. and Goldman, Sachs & Co. after beginning his career at Fitch Ratings. Mr.
Lei received a BS in Finance with Honors from New York University.

About Gleacher & Company, Inc.

Gleacher & Company, Inc. (Nasdaq: GLCH) is an independent investment bank that
provides corporate and institutional clients with strategic and financial
advisory services, including merger and acquisition, restructuring,
recapitalization, and strategic alternative analysis, as well as capital
raising, research based investment analysis, and securities brokerage
services, and through a subsidiary, engages in residential mortgage lending.
For more information, please visit www.gleacher.com.

Forward-Looking Statements

This press release contains “forward-looking statements.” These statements are
not historical facts but instead represent the Company’s belief regarding
future events, many of which, by their nature, are inherently uncertain and
outside of the Company’s control. The Company’s forward-looking statements are
subject to various risks and uncertainties, including the conditions of the
securities markets, generally, and demand for the Company’s services within
those markets and other risks and factors identified from time to time in the
Company’s filings with the Securities and Exchange Commission. It is possible
that the Company’s actual results and financial condition may differ, possibly
materially, from the anticipated results and financial condition indicated in
its forward-looking statements. You are cautioned not to place undue reliance
on any forward-looking statements. The Company does not undertake to update
any of its forward-looking statements.

Contact:

Investor
Gleacher & Company, Inc.
Thomas Hughes, 212-273-7100
Chief Executive Officer
or
Media
Joele Frank, Wilkinson Brimmer Katcher
Andrew Siegel/Nick Lamplough, 212-355-4449