NEW YORK--(BUSINESS WIRE)--Gleacher & Company Securities, Inc., a broker-dealer subsidiary of Gleacher & Company, Inc. (Nasdaq: GLCH), today announced that Richard R. Baxter, a veteran fixed-income trading and portfolio management professional, has joined the firm as Managing Director and Head of Agency Trading, based in the firm’s New York City headquarters. Mr. Baxter has nearly two decades of experience managing sales and trading operations across a broad range of products.
Also recently joining Gleacher & Company as Managing Directors are Gabe Borenstein, Christopher Owens, Daniel Baffoe and Jason Walsh. Messrs. Borenstein and Owens will be based in New York, and Messrs. Baffoe and Walsh will be based in the firm’s Chicago office.
“We are building on the strengths of our firm by adding five highly experienced sales and trading professionals to our team,” said Thomas Hughes, Chief Executive Officer. “Consistent with our strategy, we are leveraging our in-house expertise and the execution capabilities of our fixed-income business to capitalize on opportunities in the mortgage-backed securities, rates, and credit markets. We are pleased to welcome Rich and his new colleagues, and look forward to further strengthening our team and broadening our client relationships in fixed-income sales and trading.”
“The new talent we are bringing to Gleacher adds substantial depth and breadth to the fixed-income team,” said Robert Fine, Managing Director and Head of the firm’s MBS, ABS and Rates Division. “Gleacher has a proven platform that is delivering results in a volatile market, and we are further enhancing our offering with products that complement our focus on mortgage and other fixed income products.”
“This is an exciting time to join Gleacher & Company as the firm continues to invest in becoming a fixed-income leader,” said Baxter. “In just two years, Gleacher & Company has developed a leading Rates platform with a highly regarded sales and trading team. I look forward to working on behalf of the firm’s clients and participating in the next chapter of the firm’s growth.”
Mr. Baxter joins Gleacher & Company from Cabrera Capital Markets, LLC, where he served as Managing Director and Head of Taxable Fixed Income Trading. Prior to Cabrera Capital Markets, he was Vice President of Futures Trading at Fidelity Investments, and previously, he was an assistant portfolio manager responsible for basis trading, liquid products and derivative hedging at MBS hedge fund Providence Investment Management, LLC. Earlier in his career, Mr. Baxter served as Vice President of Fixed Income, Currencies and Commodities at Goldman Sachs. He began his career at Prudential Securities as Vice President of Government Bond Trading. Mr. Baxter received his B.A. in Economics with a minor in English from Villanova 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 new subsidiary, engages in residential mortgage lending. For more information, please visit http://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 undertakes no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, statements regarding the Company’s ability to complete the tender offer, the price at which the Company purchases shares pursuant to the tender offer, the number of shares the Company is able to purchase pursuant to the tender offer and other risks and factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. You are cautioned not to place undue reliance on any forward-looking statements contained in this press release.