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Gleacher & Company Hires Jerry Lee to Lead Crossover Credit Trading

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^{Published in Business and Finance on Wednesday, September 28th 2011 at 6:10 GMT by Market Wire}  

NEW YORK--([ BUSINESS WIRE ])--Gleacher & Company Securities, Inc., a broker-dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced that Jerry Lee has joined the firm as a Managing Director. Mr. Lee is responsible for leading and expanding Gleacher & Companya™s Crossover Credit Trading business.

"Jerrya™s proven track record executing successful crossover trading strategies for clients will make him an invaluable addition to the Gleacher team. We welcome him to the firm, and look forward to adding more top talent in the weeks and months ahead."

Mr. Lee has nearly twenty years of credit market experience, and has focused on the crossover credit sector for more than ten years. Prior to joining Gleacher & Company, Mr. Lee held managing director positions at Citadel Securities from 2009 to 2010, Bank of America from 2005 to 2009 and J.P. Morgan from 1993 to 2005. Mr. Lee established J.P. Morgana™s crossover trading desk in 2001.

aWe are committed to enhancing our Corporate Credit Division, and are pleased to add a professional of Jerrya™s caliber to support our crossover trading platform,a said Thomas Hughes, Chief Executive Officer. aJerrya™s proven track record executing successful crossover trading strategies for clients will make him an invaluable addition to the Gleacher team. We welcome him to the firm, and look forward to adding more top talent in the weeks and months ahead.a

Joseph Mannello, Executive Managing Director and Head of Gleacher & Companya™s Corporate Credit Division, said, aJerry is a leading trader in the sector, and has built strong relationships over the years due to his market insight and commitment to delivering outstanding service and solutions for his clients. We are very excited to have him join us, and are confident that his expertise will help us strengthen our crossover trading capabilities and extend the reach of our Corporate Credit Division.a

aI am excited to join Gleacher & Company to help broaden the firma™s services for its customers and clients,a said Mr. Lee. aThe crossover trading sector is experiencing solid growth in todaya™s market environment, and I look forward to working with the firma™s talented professionals to capitalize on the many available opportunities for Gleacher & Company and our clients.a

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 new subsidiary, engages in residential mortgage lending. For more information, please visit [ www.gleacher.com ].

Forward-Looking Statements

This press release contains aforward-looking statements.a These statements are not historical facts but instead represent the Companya™s belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Companya™s control. The Company undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, statements regarding the Companya™s ability to complete the tender offer, the price at which the Company purchases shares pursuant to the tender offer, the number of shares the Company is able to purchase pursuant to the tender offer and other risks and factors identified from time to time in the Companya™s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release.