Gleacher & Company Continues to Expand in Fixed Income


Gleacher & Company Continues to Expand in Fixed Income

Hires Managing Directors to Head Up Boston Office and New Washington D.C. Office

Continues to Add Accomplished Sales Professionals in New York Office

NEW YORK--(BUSINESS WIRE)-- Gleacher & Company Securities, Inc., the broker-dealer subsidiary of Gleacher & Company, Inc. (NAS: GLCH) , announced today that the firm has added Martin Baxter, Thomas Carey, and David Ludlow as Managing Directors, and Joseph Vendemia, Jeffrey Hingst and Stephen Lei as Directors in the MBS & Rates Division focusing on institutional account coverage in mortgage and securitized product sales.

The Gleacher & Company Fixed Income strategy includes a middle market focus, and therefore growing distribution capabilities in key regional markets. Mr. Baxter will be responsible, to that end, for building the MBS & Rates platform in the newly opened Washington D.C. office, and Mr. Carey will do likewise in Boston. Messrs. Ludlow, Vendemia, Hingst and Lei will join the expanding sales team in New York.

Thomas Hughes, Chief Executive Officer, said, "Gleacher & Company continues to recruit highly regarded and talented professionals in each of its core business units. We have transformed our Fixed Income team these past few months by hiring proven industry veterans. We are confident that we are assembling the right team of people to successfully execute our strategy."

Perrin Arturi and Donald Ullmann, Executive Managing Directors and Co-Heads of the firm's MBS & Rates Division, said, "Establishing a presence in Washington D.C. and adding depth to our Boston and New York offices accomplishes our goal of opportunistic expansion while strengthening our Fixed Income sales platform. Following the successful performance of our Chicago office under the leadership of recently hired Managing Director, Michael Lanigan, we are confident that there is significant additional opportunity in other key markets. We are pleased to welcome Martin, Thomas, David, Joseph, Jeffrey and Stephen to our team to support our sales efforts and further expand our platform. They bring significant industry expertise and outstanding track records of performance. We look forward to the contributions they will make to Gleacher & Company and to the success of our clients."

Gleacher & Company's Fixed Income platform provides structured finance, analytics support, sales and trading services on a wide range of fixed income products including mortgage and asset-backed securities, U.S. Treasury and government agency securities, structured products such as CLOs and CDOs, as well as high yield, investment grade and emerging markets credit products. The Group has developed strong relationships with institutional investors, including mutual funds, pension funds, insurance companies, hedge funds, banks, and investment managers, by providing value-added investment ideas and access to execution services and inventory capital.

About Mr. Baxter

Mr. Baxter brings more than 25 years of experience in fixed income sales to Gleacher & Company, most recently serving as a Managing Director at Amherst Securities Group since 2002 when he opened and managed the Mclean, VA office. From 2002-2004, he also served as their National Sales Manager. Prior to that, Mr. Baxter opened the institutional office in Washington, DC for Raymond James & Associates where he was continually one of the top performers nationwide and held the title of Senior Vice President. Previously, he was a top performer at Paine Webber in New York specializing in mortgage related products where he was promoted several times, ultimately achieving the rank of First Vice President. He received an MBA from the Darden School of Business at the University of Virginia and a BA with Distinction in Government & Economics also at the University of Virginia where he was selected as a DuPont Scholar.

About Mr. Carey

Mr. Carey brings more than 15 years of experience to Gleacher & Company, most recently serving as a Director of Institutional Sales at Ally Securities (formerly GMAC Mortgage) and was responsible for opening their Boston office. Prior to that, he was the Director of Structured Product Sales at Credit Suisse, responsible for selling structured products to institutional investors and marketing a wide range of fixed income products that included treasuries, agencies, corporate bonds and fixed income derivatives. He previously worked as an Associate in the Taxable Fixed Income Department at Prudential Securities and as an Associate at CIBC Oppenheimer. Mr. Carey received a BS in Finance from Boston College.

About Mr. Ludlow

Mr. Ludlow brings more than 30 years of experience to Gleacher & Company, most recently serving as a Managing Director of Mortgage Sales at Sandler O'Neill & Partners. Prior to that, he was an Institutional Sales Person for Mortgages and Structured Products at Raymond James & Associates. From 1998 to 2009, Mr. Ludlow served in multiple leadership positions at Deutsche Bank Securities Inc., including Managing Director and Head of Mortgage and Securitized Product Sales and Senior Institutional Salesman. Previously, he was an Institutional Salesman for Mortgages and Structured Product at Alex Brown & Sons, Senior Vice President Mortgage Trading at Kidder Peabody Inc. and Vice President, Mortgage Trading at Goldman Sachs & Co. He began his career at The Bank of New York as an Associate Trust Officer. Mr. Ludlow graduated with honors from Fairfield University with a BS in Economics and he received his MBA in Finance from Fordham Business School.

About Mr. Vendemia

Mr. Vendemia brings more than a decade of experience to Gleacher & Company, most recently serving as a Senior Vice President of Institutional Sales at Pursuit Partners, LLC. Prior to that, he was an Associate in the Securitized Products Sales division at JP Morgan Securities. Mr. Vendemia was previously an Assistant Vice President of Regional Institutional Sales - Mortgages at UBS Securities, responsible for soliciting sales of all mortgage backed products to the UBS regional institutional sales force and serving as a liaison to the institutional mortgage backed trading desk. He previously held the role of Assistant Vice President of Taxable Fixed Income Sales at UBS PaineWebber. Mr. Vendemia began his career as an Analyst in the Investment Management Asset Group at Chase Manhattan Corporation. He received a BS in Business Administration from Youngstown State University.

About Mr. Hingst

Mr. Hingst has more than two decades of fixed income sales and trading experience and joins Gleacher & Company from Princeridge Group, where he most recently served as a Director of MBS Sales. Previously he was a Senior Vice President of MBS Sales at FTN Financial Securities Corp. Prior to that, he was a Director in MBS Sales at Barclays Capital. Mr. Hingst served for 15 years at Bear Stearns & Co., most recently as a Senior Managing Director in MBS Sales. He began his career as a fixed income trader at Statesman Group/American Life and Casualty Insurance Corporation. Mr. Hingst received a BS in Business Administration with a concentration in Finance from Drake University.

About Mr. Lei

Mr. Lei brings to Gleacher & Company more than 15 years of fixed income sales, trading and structured products experience, most recently serving as a Director in Institutional Sales at KGS-Alpha Capital Markets. Prior to that, Mr. Lei was an Executive Director in Fixed Income Sales and Trading at Nariman Point Advisors. Previously, Mr. Lei held positions at HSBC Securities (USA) Inc. and Goldman, Sachs & Co. after beginning his career at Fitch Ratings. Mr. Lei received a BS in Finance with Honors from New York University.

About Gleacher & Company, Inc.

Gleacher & Company, Inc. (NAS: 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

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.

Gleacher & Company, Inc.
Thomas Hughes, 212-273-7100
Chief Executive Officer
Joele Frank, Wilkinson Brimmer Katcher
Andrew Siegel/Nick Lamplough, 212-355-4449

KEYWORDS: United States North America New York


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