Gleacher & Company Hires James D. Treco As Managing Director In Investment Banking Division

Gleacher & Company Securities, Inc., a broker-dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), announced today that James D. Treco has joined the firm as a Managing Director in the Investment Banking Division. Mr. Treco is based in the firm’s New York Office, where he focuses on the Paper & Packaging Sector.

Mr. Treco joins Gleacher & Company from First Chicago Advisors, Inc., where he served as Managing Partner. His role at First Chicago Advisors followed a 25-year career at Citigroup (formerly Salomon Brothers), where he spent time in both the London and New York offices, and completed more than $20 billion in advisory transactions primarily in the paper and packaging industry. He has worked with clients on a wide range of advisory and capital markets transactions such as: a major North American paper company in its restructuring and eventual sale to a peer; a European government entity on its timber, pulp and paper strategy; one of the largest European pulp and timber companies on its North American strategy; and one of the largest European packaging companies on various capital structure issues, capital market transactions, and its initial public offering.

Thomas Hughes, Chief Executive Officer, said, “Gleacher & Company continues to execute its strategy of adding talented professionals in key industry verticals who are aligned with the firm’s core values. Jamie is an experienced advisor who has demonstrated an unrelenting commitment to client service, and who has earned a reputation as a trusted and results-oriented strategic advisor. We are confident that our Investment Banking Division will be strengthened by the addition of Jamie Treco.”

Randy Barker, Head of Investment Banking and Capital Markets, said “Jamie joins us with over 30 years of investment banking experience and adds significant relationship depth to our Investment Banking efforts. His tireless drive and commitment to excellence will help propel the Division to new heights. I am excited to have Jamie as part of our team, and look forward to a collaborative and successful partnership with him.”

About Mr. Treco

Mr. Treco joins Gleacher & Company from First Chicago Advisors, Inc., where he served as Managing Partner. Prior to First Chicago Advisors, he was a Managing Director at Citigroup (formerly Salomon Brothers), where he most recently held positions in London, including Global Co-head of Basic Industries. During a twelve-year stint in London, Mr. Treco built the Basic Industries practice covering clients throughout Eastern and Western Europe, Africa, Russia and Asia. Prior to working in London, Mr. Treco was a Director with Salomon Brothers for a dozen years in New York. Earlier in his career, he was at Citibank and at Chemical Bank focused on corporate credit. Mr. Treco received an MBA from Stanford University and a BA from Yale University.

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 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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