Eric Gleacher

Eric Gleacher (born April 27, 1940) is an American investor and financier, and the founder and chairman of Gleacher & Company, an independent investment banking firm based in New York City.

Early life and education

Gleacher attended Western Illinois University,[1] where he competed in golf.[2] He later transferred to Northwestern University and graduated with a B.A. in history in 1963, after which he served as an infantry officer in the U.S. Marine Corps for three years. Thereafter, Gleacher received his MBA from The University of Chicago Booth School of Business in 1967.[3]

Career

In 1978, Gleacher founded the mergers and acquisitions department of Lehman Brothers. He left Lehman, following its acquisition by Shearson, to head the mergers and acquisitions group at Morgan Stanley from 1985 through 1990.[4] During this time, Gleacher was involved in the leveraged buyout of RJR Nabisco by Kohlberg Kravis Roberts & Co. as well as the leveraged buyout of Revlon by Ronald Perelman.[5]

In 1990, Gleacher founded his own firm, Gleacher Partners, which he sold to National Westminster Bank in 1996 for $135 million. He bought back the firm in 1999 for less than $4 million and, in 2009, resold the firm for $65 million to the publicly traded Broadpoint Securities Group who renamed it Gleacher & Co. Gleacher was initially installed as CEO and chairman in 2010 but was ousted and replaced by Tom Hughes in 2011, retaining the position of chair until leaving in 2013.[6] On March 13, 2014, Gleacher & Co. announced that it would liquidate its remaining assets, having disbanded its investment banking business during 2013.[7]

The University of Chicago Booth School of Business's downtown Chicago Gleacher Center is named in his honor.[3]

Gleacher is on the board of trustees for the Hospital for Special Surgery and Northwestern University.

gollark: Probably mount configs, I think.
gollark: I mean, I think you can muck around with some option somewhere to not require chmod +x (or 755 or whatever), but you probably shouldn't.
gollark: If someone doesn't know the all the arcane lore of Windows, not their fault.
gollark: All is user error.
gollark: NixOS: Pretty Good.

References
  1. Western Illinois University news release
  2. http://www.wiu.edu/student_services/golf_course/info/eg.php
  3. "The Big Idea". Chicago Booth Magazine. Spring 1998. Archived from the original on 2 May 2015. Retrieved 14 July 2014.
  4. Lopez, Linette; Penn, Alyson (9 July 2014). "HOUSE OF THE DAY: An Investment Bank Founder Sold His 6-Story Townhouse To The United Arab Emirates For $27 Million". Business Insider. Retrieved 5 March 2019.
  5. Moyer, Liz (29 January 2013). "Deal Veteran Departs Firm". The Wall Street Journal. Retrieved 5 March 2019.
  6. Cendrowski, Scott (13 June 2013). "The deal he couldn't close". Fortune. Retrieved 5 March 2019.
  7. Alden, William (13 March 2014). "Gleacher & Co. Plans to Liquidate". Dealbook. Retrieved 5 March 2019.



This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.