Any info on Gleacher & Co?
on how the company is doing (their stock price is under a buck, not a good sign), their hiring needs, culture, compensation, etc?
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http://www.wallstreetoasis.com/company/gleacher
Gleacher & co (Originally Posted: 10/07/2010)
What are the thoughts on this boutique especially after merging with Broadpoint? It seems like analysts there have solid exits.
bump
I have no input besides that fact that, as an equity invetment, I am down ~40%...hopefully GLCH's deal flow is improving
Gleacher (Originally Posted: 10/06/2011)
Can someone shed some light on this firm? Interested in culture, dealflow, exit opps. Search function turns up some fairly outdated information. Thanks in advance!
i know they just got rid of their tech team
they just got out of the equities business too
pretty good nyc m&a group. the past analysts went to very good gf/pe
heard they have hot gf's also...but yea placement on their recruiting presentation was sick
bump
Anyone know anything about Gleacher? (Originally Posted: 11/07/2012)
Hey guys,
Anyone know anything about this firm? I know they recently put themselves up for sale and they are struggling/potentially about to go down but apart from aren't they very elite bank that compete against Lazard and Evercore for deals?
I appreciate any insight into these guys. Does anyone know anyone there?
On the ropes; deal flow is suffering. You're right that they were a well respected firm and there was great placement for the analysts, but the prestige has to be waning and it's hard to tell how much pull the current senior bankers might have with the buy-side. It was rumored that Stifel was looking at buying them, but after their KBW acquisition it seems less likely. There are still potential buyers, but its hard to speculate whether they'd rather pay the premium to buy the GLCH name or just cherry pick by lifting the productive groups who want to flee a potentially sinking ship.
I'm curious, are they still hiring?
So its confirm they are going down if no one buys them? I heard their banking is tiny like 12-15 people including all the MDs, VPs, etc.
They are more of a S&T unit right because of Broadpoint.
Not confirmed, but the outside view isn't good. The outside view has been wrong before though, so who knows. You're free to roll the dice if you have an offer.
My info isn't confirmed either but heard negative things as well, best to take a top MM over them if you have the chance.
i hear you want to know a thing or two about Gleacher?
this week I got email from friend of a friend,etc...their friend's son had offer from gleacher and then it was rescinded! nothing good going on there..had alot of defections from 2nd yr analyst class ( know this for a fact from one of the defectors), low morale is rampant and a lot of uncertainty. Not the best career choice if anything else on the table.
So they renege on their offers? Doesn't that screw over the people that have accepted since they won't have other offers at the time they rescind them?
Yes, usually reneging an offer screws the person over majorly. Worse is when a bank lays off someone who is only 1-2 months into training. Those guys rarely recover since they're too old for OCR and too young for lateral opps.
Also know one of the guys who works there currently. The kid did not have his offer rescinded - the offer expired after the kid had accepted another offer. Also fyi, they closed on $16 billion Archstone deal - google it, so perhaps not doing terrible. Maybe the entire investment banking climate just all sucks. I bet no analysts at KBW or Jefferies expected to get sold off either...
Gleacher screwed? (Originally Posted: 03/04/2013)
Hi. I'm thinking of applying to Gleacher. I know they're not doing well, but seeing as 20 traders just left, they'll be looking to hire. Can anyone shed some light onto whether working there would be a horrible idea or if its still considered a decently prestigious firm? I'm sort of desperate for a new job as the one that I have now is horrible. On the other hand, it is a job and I'd rather being working a horrible job than be fired a month after starting...
Really depends how they can rebuild the trading teams. It has a strong name but really seems tostruggle keeping people. Are you currently a trader now?
I believe they were all in credit trading. Are you currently in trading? I don't know what Gleacher's plan is for the trading arm, they have plenty of more problems to deal with then that.
Look at it this way: if you're in ops now and have a shot at trading there....take it. After a couple of months you're a trader, and will have less trouble finding another trading job than if you had stayed in ops.
Why do you hate you current job?
If you're already trading or doing something you want and just don't like your team or whatever...then I don't know, I'm not familiar with their trading at all. Going in after a huge round of cuts can be either really bad, as in they want you to staff a sinking ship OR it can be a really good opportunity because they just cleaned house and it's wide open for you to take advantage of whatever opportunity remains. Realize that either way you may not make a lot of money right away, especially if they're rebuilding or building in another direction.
See if you can find out from any of the people actually cut what the deal is: is Gleacher cleaning house or are they winding down the desk.
Neither...The credit trading group defected to another firm (Baird I believe). Back in April the MBS trading team left for another firm as well. They have slowly built that team backup. According to the CEO they are focused on fixed income s&t
none of this am i too good for them crap i'm not going to apply. that's for them to decide, and unless you can evidence that you ARE too good (ie you have offers elsewhere at better places), you should apply.
Comments on the M&A team?
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