Gleacher & Company Announces Planned Board Of Directors Transition As Of 2013 Annual Stockholders Meeting In May

Gleacher & Company, Inc. (Nasdaq: GLCH) today announced that four of its independent directors, Dr. Henry Bienen, Robert Gerard, Bruce Rohde and Robert Yingling, have informed the Company that they do not currently plan to stand for reelection at the Company’s upcoming 2013 Annual Stockholders Meeting currently expected to be held in May.

Tom Hughes, the Company’s Chief Executive Officer, said, “We have been most fortunate to have had available to us the dedication, judgment and keen intellect of these independent directors. Their support of management and our efforts to build a first class financial services firm has been invaluable. In addition, they played a critical role as members of the Special Committee of the Board of Directors conducting the strategic review over the past several months. We will all miss them, professionally as well as personally, and certainly wish them the best.”

About Gleacher & Company

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. 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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