Eric Gleacher
{{Short description|American businessman}}
Eric Gleacher (born April 27, 1940) is an American investor and financier, and the founder and former chairman of the now defunct, Gleacher & Company, an independent investment banking firm based in New York City.
Early life and education
Gleacher attended Western Illinois University,[http://www.wiu.edu/news/newsrelease.php?release_id=5694 Western Illinois University news release] where he competed in golf.{{cite web |url=http://www.wiu.edu/student_services/golf_course/info/eg.php |title=Eric Gleacher - Harry Mussatto Golf Course - Western Illinois University |website=www.wiu.edu |url-status=dead |archive-url=https://web.archive.org/web/20110606080243/http://www.wiu.edu/student_services/golf_course/info/eg.php |archive-date=2011-06-06}} 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.{{cite web |title=The Big Idea |website=Chicago Booth Magazine |date=Spring 1998 |accessdate=14 July 2014 |url=http://www.chicagobooth.edu/magazine/Spring98/Gleacherded.html |url-status=dead |archiveurl=https://web.archive.org/web/20150502032718/http://www.chicagobooth.edu/magazine/Spring98/Gleacherded.html |archivedate=2 May 2015 }}
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.{{cite web|url=https://www.businessinsider.com/united-arab-emirates-nyc-townhouse-2014-7|title=HOUSE OF THE DAY: An Investment Bank Founder Sold His 6-Story Townhouse To The United Arab Emirates For $27 Million|last1=Lopez|first1=Linette|last2=Penn|first2=Alyson|date=9 July 2014|website=Business Insider|access-date=5 March 2019}} 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.{{cite web|url=https://www.wsj.com/articles/SB10001424127887323375204578271673319580796|title=Deal Veteran Departs Firm|last=Moyer|first=Liz|date=29 January 2013|newspaper=The Wall Street Journal|access-date=5 March 2019}}
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.{{cite web|url=http://fortune.com/2013/06/13/the-deal-he-couldnt-close/|title=The deal he couldn't close|last=Cendrowski|first=Scott|date=13 June 2013|website=Fortune|access-date=5 March 2019}} On March 13, 2014, Gleacher & Co. announced that it would liquidate its remaining assets, having disbanded its investment banking business during 2013.{{cite web|url=https://dealbook.nytimes.com/2014/03/13/gleacher-co-announces-plans-to-liquidate/|title=Gleacher & Co. Plans to Liquidate|last=Alden|first=William|date=13 March 2014|website=Dealbook|access-date=5 March 2019}}
The University of Chicago Booth School of Business's downtown Chicago Gleacher Center is named in his honor.
Gleacher is on the board of trustees for the Hospital for Special Surgery and Northwestern University.
References
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External links
- [https://money.cnn.com/magazines/fortune/fortune_archive/1986/02/17/67133/index.htm A Hot New Star in the Merger Game]. Fortune, February 17, 1986
- [http://business.timesonline.co.uk/tol/business/movers_and_shakers/article7017211.ece At leisure: the 19th hole is a place in the Wall Street pantheon]{{dead link|date=January 2025|bot=medic}}{{cbignore|bot=medic}}. The Times, February 6, 2010
- [https://www.bloomberg.com/apps/news?pid=newsarchive&sid=at_uBAkDd5mQ&refer=home Broadpoint Agrees to Purchase Eric Gleacher’s Firm]. Bloomberg, March 3, 2009
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Category:Private equity and venture capital investors
Category:20th-century American Jews
Category:Northwestern University alumni
Category:University of Chicago Booth School of Business alumni
Category:American chief executives of financial services companies
Category:21st-century American Jews
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