{"id":651787,"date":"2013-04-11T05:16:22","date_gmt":"2013-04-11T09:16:22","guid":{"rendered":"http:\/\/www.pehub.com\/?p=195742"},"modified":"2013-04-11T05:16:22","modified_gmt":"2013-04-11T09:16:22","slug":"gleacher-company-exits-fixed-income-business","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/651787","title":{"rendered":"Gleacher & Company Exits Fixed Income Business"},"content":{"rendered":"

Gleacher & Company<\/strong> is to exit its MBS & Rates and Credit Products businesses effective immediately. The plan does not include the company\u2019s other business operations, principally investment banking. <\/p>\n

PRESS RELEASE<\/strong><\/p>\n

Gleacher & Company, Inc. (Nasdaq: GLCH) today announced that it will exit its MBS & Rates and Credit Products businesses effective immediately. Exiting these businesses, together with associated rightsizing of administrative and other support personnel, could impact up to approximately 160 employees. The plan does not include the Company\u2019s other business operations, principally investment banking. <\/p>\n

The Company also announced that it is engaged in preliminary discussions with a third party regarding a potential business combination. There can be no assurance that these discussions will result in a transaction. <\/p>\n

Finally, after having reopened the period during which stockholders of the Company could submit proposals for nominations to the Company\u2019s Board of Directors, the Company has received a submission from Clinton Relational Opportunity Master Fund, L.P., a stockholder of the Company, of a slate of individuals, including Thomas Hughes, the Company\u2019s Chief Executive Officer and a current director, that it intends to nominate for election to the Company\u2019s Board of Directors at the Annual Meeting of Stockholders scheduled for May 23, 2013. If elected, these nominees would together constitute the entire Board of Directors. <\/p>\n

About Gleacher & Company <\/p>\n

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. <\/p>\n

Forward Looking Statements <\/p>\n

This press release contains \u201cforward-looking statements.\u201d These statements are not historical facts but instead represent the Company\u2019s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company\u2019s control. The Company\u2019s forward-looking statements are subject to various risks and uncertainties, including the conditions of the securities markets, generally, and demand for the Company\u2019s services within those markets and other risks and factors identified from time to time in the Company\u2019s filings with the Securities and Exchange Commission. It is possible that the Company\u2019s 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. <\/p>\n

Contacts
\nInvestors:
\nGleacher & Company, Inc.
\nThomas J. Hughes, 212-273-7100
\nChief Executive Officer
\nor
\nMedia:
\nRubenstein Associates
\nMarcia Horowitz, 212-843-8014 <\/p>\n

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Gleacher & Company is to exit its MBS & Rates and Credit Products businesses effective immediately. The plan does not include the company\u2019s other business operations, principally investment banking. PRESS RELEASE Gleacher & Company, Inc. (Nasdaq: GLCH) today announced that it will exit its MBS & Rates and Credit Products businesses effective immediately. Exiting these […]<\/p>\n","protected":false},"author":7999,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-651787","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/651787","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7999"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=651787"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/651787\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=651787"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=651787"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=651787"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}