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Gleacher & Company Announces Planned Board of Directors Transition as of 2013 Annual Stockholders Meeting in May



  Gleacher & Company Announces Planned Board of Directors Transition as of
  2013 Annual Stockholders Meeting in May

Company Expresses Gratitude to Dr. Bienen, Messrs. Gerard, Rohde and Yingling
                             for Years of Service

                Played Key Role in Review of Strategic Options

Business Wire

NEW YORK -- February 25, 2013

Gleacher & Company, Inc. (Nasdaq: GLCH) today announced that four of its
independent directors, Dr. Henry Bienen, Robert Gerard, Bruce Rohde and Robert
Yingling, have informed the Company that they do not currently plan to stand
for reelection at the Company’s upcoming 2013 Annual Stockholders Meeting
currently expected to be held in May.

Tom Hughes, the Company’s Chief Executive Officer, said, “We have been most
fortunate to have had available to us the dedication, judgment and keen
intellect of these independent directors. Their support of management and our
efforts to build a first class financial services firm has been invaluable. In
addition, they played a critical role as members of the Special Committee of
the Board of Directors conducting the strategic review over the past several
months. We will all miss them, professionally as well as personally, and
certainly wish them the best.”

About Gleacher & Company

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. 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.

Important Additional Information

Gleacher & Company, Inc., its directors and certain of its executive officers
may be deemed to be participants in the solicitation of proxies from Gleacher
stockholders in connection with the matters to be considered at Gleacher’s
2013 Annual Meeting. Gleacher intends to file a proxy statement with the U.S.
Securities and Exchange Commission (the “SEC”) in connection with any such
solicitation of proxies from Gleacher stockholders. Gleacher STOCKHOLDERS ARE
STRONGLY ENCOURAGED TO READ ANY SUCH PROXY STATEMENT AND ACCOMPANYING PROXY
CARD WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION.
Information regarding the ownership of Gleacher’s directors and executive
officers in Gleacher stock, restricted stock and options is included in their
SEC filings on Forms 3, 4 and 5, which can be found at the Company’s website
(www.gleacher.com) in the section “Investor Relations-SEC Filings.” More
detailed information regarding the identity of potential participants, and
their direct or indirect interests, by security holdings or otherwise, will be
set forth in the proxy statement and other materials to be filed with the SEC
in connection with Gleacher’s 2013 Annual Meeting. Information can also be
found in Gleacher’s Annual Report on Form 10-K for the year ended December 31,
2011, filed with the SEC on March 20, 2012. Stockholders will be able to
obtain any proxy statement, any amendments or supplements to the proxy
statement and other documents filed by Gleacher with the SEC for no charge at
the SEC’s website at www.sec.gov. Copies will also be available at no charge
at Gleacher’s website at www.gleacher.com or by writing to Gleacher & Company,
Inc. at 1290 Avenue of the Americas, New York, New York 10104.

Contact:

Gleacher & Company, Inc.
Investors
Thomas J. Hughes, 212-273-7100
Chief Executive Officer
or
Media
Rubenstein Associates
Marcia Horowitz, 212-843-8014
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