Thoughts on Gleacher Shacklock 2026 AD (After Dorian)?

Full disclaimer I'm very far removed from the non-performing space but curious on where you see Gleacher given Dorian Lowell defection to HL (surprise, surprise), do they have credibility beyond restructuring? Probability of them going by way of Robey Warshaw?

3 Comments
 
Most Helpful

I'll bite

Always thought Gleacher was a btec Robey Warshaw (no insult intended) running lean - don't see them on much beyond some good blue-chip relationships they hold with JustEat and some industrials / infra deals (think they did Thames Water or someone similar restructuring). I said on this forum that they could be a takeover target, but someone rightly replied by saying you just need to poach Dorian. For boutiques like Robey / Gleacher etc, sounds like it makes much more sense to just poach rather than to outright acquire (Evercore-Robey was probably different given partnership model and UK Corporate access which Evercore didn't have prior).

 

Analyst 1 in IB-M&A

I'll bite

Always thought Gleacher was a btec Robey Warshaw (no insult intended) running lean - don't see them on much beyond some good blue-chip relationships they hold with JustEat and some industrials / infra deals (think they did Thames Water or someone similar restructuring). I said on this forum that they could be a takeover target, but someone rightly replied by saying you just need to poach Dorian. For boutiques like Robey / Gleacher etc, sounds like it makes much more sense to just poach rather than to outright acquire (Evercore-Robey was probably different given partnership model and UK Corporate access which Evercore didn't have prior).

Very helpful insight, thanks 

 

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