Gleacher & Company Securities, Inc., a broker–dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced a leadership transition within the firm’s MBS/ABS & Rates Group beginning with the planned departure of Robert Fine, Executive Managing Director and Head of the MBS/ABS & Rates Group, and Robert Tirschwell, Executive Managing Director and Head of Trading in the MBS/ABS & Rates Group. Gleacher & Company is considering both internal and external candidates for the positions. To ensure continuity of leadership, Mr. Fine and Mr. Tirschwell have agreed to remain with the firm on a temporary basis. Thomas Hughes, Chief Executive Officer, said, “When Rob and Robert sold their firm to Gleacher & Company in 2004, we acquired a talented team of sales and trading professionals who had been assembled during the preceding decade. While here, Rob and Robert led continued growth in the platform, which today houses our MBS, ABS, and Rates activity. Thanks to their leadership, we enjoy a deeply talented team of professionals who consistently deliver value to our clients. We thank Rob and Robert for their dedication over the past eight years, and for their assistance in a smooth leadership transition. We wish them all the best in their future endeavors.” Gleacher & Company’s MBS/ABS & Rates Group provides sales, trading, banking, research and advisory services on a wide range of mortgage and asset-backed securities, U.S. Treasury and government agency securities, structured products such as CLOs and CDOs, whole loans, and other securities. The Group has developed strong relationships with institutional investors, including mutual funds, pension funds, insurance companies, hedge funds, investment managers and investment advisors, by providing value-added investment ideas and access to execution services and inventory capital. 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.