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.

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