Gleacher-less Gleacher Gives Up


Having ceased to have a Gleacher in the house, and having ceased to be an investment bank, investment bank Gleacher & Co. has decided to cease existing.

Gleacher & Company, the troubled investment bank that had tried unsuccessfully to sell itself, announced on Thursday that it planned to liquidate its assets, closing up shop after 24 years….

Though the board pursued other options, “the process to date has not yielded any opportunities viewed by the board as reasonably likely to provide greater realizable value to stockholders than the complete dissolution and liquidation of the company,” Mark Patterson, the chairman, said in a statement.

Gleacher & Co. Plans to Liquidate [DealBook]