11/7/12

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?

Comments (9)

11/7/12

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?

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11/7/12

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.

11/7/12

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.

11/7/12

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.

11/7/12

i hear you want to know a thing or two about Gleacher?

11/8/12

this week I got email from friend of a friend,etc...their friend's son had offer from gleacher and then it was rescinded!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.

11/9/12

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?

11/9/12

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.

11/27/12

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