Gleacher & Company Hires Scott Margolis to Head Converts

Gleacher & Company Securities, Inc., a broker-dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced that Scott Margolis has joined the firm as Head of the Convertible Securities group in the firm’s Corporate Credit division.

Mr. Margolis brings over 18 years of experience in management as well as sales, trading and research in the convertible securities area. Prior to joining Gleacher & Company, he was Managing Director and Co-Head of the Convertible Bond Group at Weeden & Co., LP. Prior to Weeden, he was Managing Director and senior trader of convertible securities with Bear Stearns, and prior to Bear Stearns, he managed and traded convertible securities with Credit Suisse First Boston Corp. and UBS Securities. Mr. Margolis received his BA degree from the University of Connecticut and graduate degrees from the University of Massachusetts and the Yale School of Organization and Management.

Joseph Mannello, the Head of Gleacher & Company’s Corporate Credit division, said, "I am very excited to have Scott join our team. His trading experience and leadership will help us continue to build our converts business.”

Peter McNierney, Chief Executive Officer of Gleacher & Company, said, "Scott’s addition will not only expand our secondary sales & trading presence in converts, but will significantly enhance our product capabilities for our corporate clients seeking to raise capital.”

About Gleacher & Company

Gleacher & Company, Inc. (Nasdaq: GLCH) is an independent investment bank that provides corporate and institutional clients with strategic, research-based investment opportunities, capital raising, and financial advisory services, including merger and acquisition, restructuring, recapitalization, and strategic alternative analysis services. For more information, please visit www.gleacher.com.

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