Gleacher & Company Hires Fixed Income Veteran Geoffrey Coley

Gleacher & Company Securities, Inc., a broker–dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced that Geoffrey Coley has joined the firm as a Managing Director. Mr. Coley will lead a comprehensive and cross functional effort to expand the firm’s current and prospective client relationships.

Mr. Coley brings to Gleacher & Company more than two decades of client, product development, and risk management experience. He has utilized his extensive product knowledge to expertly service clients in multiple geographic markets.

Thomas Hughes, Chief Executive Officer, said, “Given our growth plans, this is an ideal time to establish a dedicated client relationship role at Gleacher & Company. Geoff has an outstanding network of contacts across a number of key industries, and we are delighted that he will be joining us to extend our reach and better serve our existing clients.”

Mr. Coley said, “I am excited to begin working with Gleacher & Company’s current clients, and look forward to finding new and innovative ways to provide a superior client experience. I am eager to identify new opportunities to accelerate the firm’s growth throughout Investment Banking, Fixed Income and Asset Management.”

About Mr. Coley

Mr. Coley previously served as Head of Fixed Income at Citadel Securities. Prior to that, he was a Managing Director and Co-Head of Global Fixed Income, Commodities and Currencies for Citigroup.

Prior to his roles at Citadel Securities and Citigroup, Mr. Coley spent the majority of his career at Salomon Brothers and then at Salomon Smith Barney, where he was most recently Co-Head of Global Fixed Income Credit Markets. He previously served in several roles, including Head of U.S. Investment Grade Origination, Syndication and Trading, and Head of Investment Grade Secondary Trading. Mr. Coley began his career as a corporate bond trader at Kidder Peabody. He graduated from the University of New Hampshire with a B.S. in Business Administration.

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 “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.

Copyright Business Wire 2010

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