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Gleacher & Company, Inc. (Nasdaq: GLCH) announced today that Eric J. Gleacher has resigned as Chairman of the Company’s Board of Directors and as an officer and director of the Company, and will be leaving the firm.
Said Mr. Gleacher, “I simply decided that it was time for me to focus my attention and energy on some exciting business opportunities outside of the firm. I wish my talented colleagues at Gleacher & Company all the best as they pursue their careers, compete in the marketplace and grow.”
Mr. Gleacher has served as Chairman of Gleacher & Company since its acquisition of Gleacher Partners Inc., the firm he founded in 1990. Prior to starting his firm, he founded the Mergers & Acquisitions Department at Lehman Brothers in 1978, and headed Global Mergers & Acquisitions at Morgan Stanley from 1985 to 1990. His storied career includes key advisory roles in some of the most significant M&A transactions of the past four decades.
Bruce Rohde, Lead Director of the Company’s Board of Directors, said, “Eric is widely recognized as one of the most dynamic and productive bankers, and we thank him for all he has done for the firm over the years.”
Mr. Rohde continued, “Over the past four quarters, the firm has announced a number of strategic initiatives and recruited many seasoned professionals to Investment Banking, as well as Sales and Trading in both the Mortgage and Credit Products business units, as part of its overall strategy to better serve the Company’s clients.”
Thomas Hughes, Chief Executive Officer of Gleacher & Company, said, “Eric has been a prominent figure in our industry for decades, and his contributions to our firm have been critical to our growth. We will continue to grow our M&A and capital raising capabilities in line with the vision we have described previously, a vision that Eric helped author. On behalf of the Company, I want to wish Eric the best in his future endeavors.”