Gleacher & Company Securities, Inc., a broker-dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced that Adam Zachary (Zach) Pace and Aaron Read have joined the firm as Directors, and Tai Vu has joined the firm as a Vice President, all in the MBS & Rates division. These additions bring to Gleacher & Company extensive fixed income trading experience across a diverse array of asset-backed products. Thomas Hughes, Chief Executive Officer, said, “We are growing our MBS trading team and continue to enhance our offering for our clients. We are confident that the continued execution of our strategy, including our successful efforts to attract superior talent, will serve us well as we deliver on our growth strategy.” Perrin Arturi and Don Ullmann, Executive Managing Directors and Co-Heads of the MBS & Rates division, said, “Zach, Aaron and Tai bring with them exemplary trading skills and expertise to drive superb results for our clients, and we are excited to have them join our growing team. We are confident that they will build upon our strong foundation in MBS trading, and will help us to deliver additional value to our clients.” Messrs. Pace, Read and Vu said, “We are excited about Gleacher & Company’s growth strategy in both mortgage and asset-backed securities. We look forward to working closely with Perrin, Don and the entire MBS & Rates team in our new roles.” Gleacher & Company’s MBS & Rates Group provides structured finance, research, sales, and trading 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 Mr. PaceMr. Pace joins Gleacher & Company from Bank of America, where he was a Vice President focusing on mortgage-backed securities trading. Prior to joining Bank of America, Mr. Pace spent six years at Credit Suisse, most recently as a Vice President. Before starting his career in financial services, Mr. Pace served in the United States Marine Corps where he rose to the rank of First Lieutenant. Mr. Pace received a B.A. in Economics from Williams College. About Mr. Read Mr. Read has thirteen years of experience trading ABS and MBS products and joins Gleacher & Company from Cantor Fitzgerald, where he was a Director and Senior Trader. At Cantor Fitzgerald, Mr. Read was responsible for market making in various subprime mortgage products, second liens and consumer-oriented ABS products. Prior to that, he held senior trading positions at Cohen & Company (now known as Institutional Financial Markets, Inc.), Miller Tabak Roberts and BlueMountain Capital Management. Mr. Read spent the first eight years of his career at BlackRock Financial Management, most recently as a Director and Portfolio Manager in the Investment Strategy Group. Mr. Read received a B.S. in Industrial Engineering from the University of Rhode Island and an M.S. in Financial Engineering from Columbia University. About Mr. Vu Mr. Vu joins Gleacher & Company from UBS where he was a Director in the MBS group. Prior to UBS, Mr. Vu held trading and analyst roles at Wells Fargo Home Mortgage, Citigroup, and Travelers Life & Annuity. Mr. Vu received a B.S. with a concentration in Actuarial Science from the University of Hartford and an M.B.A. from Washington University in St. Louis. 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.