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.

References

  1. ^ Western Illinois University news release
  2. ^ http://www.wiu.edu/student_services/golf_course/info/eg.php
  3. ^ a b "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.

External links

List of University of Chicago Booth School of Business alumni

This list of University of Chicago Booth School of Business alumni consists of notable people who graduated or attended the University of Chicago Booth School of Business (Chicago Booth), formerly known as the University of Chicago Graduate School of Business. The business school was renamed in 2008 in honor of the $300 million gift made by David G. Booth. Chicago Booth has over 49,000 alumni.

Morgan Stanley

Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in the Morgan Stanley Building, Midtown Manhattan, New York City. With offices in more than 42 countries and more than 55,000 employees, the firm's clients include corporations, governments, institutions and individuals. Morgan Stanley ranked No. 67 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.The original Morgan Stanley, formed by J.P. Morgan & Co. partners Henry Sturgis Morgan (grandson of J.P. Morgan), Harold Stanley and others, came into existence on September 16, 1935, in response to the Glass–Steagall Act that required the splitting of commercial and investment banking businesses. In its first year the company operated with a 24% market share (US$1.1 billion) in public offerings and private placements.

The current Morgan Stanley is the result of merger of the original Morgan Stanley with Dean Witter Discover & Co. in 1997. Dean Witter's Chairman and CEO, Philip J. Purcell, became the Chairman and CEO of the newly merged "Morgan Stanley Dean Witter Discover & Co." Eventually, the new firm changed its name back to "Morgan Stanley" in 2001. The main areas of business for the firm today are institutional securities, wealth management and investment management.

Steven Rattner

Steven Lawrence Rattner (born July 5, 1952) is an American financier who served as lead adviser to the Presidential Task Force on the Auto Industry in 2009 for the Obama administration. He is currently Chairman and Chief Executive Officer of Willett Advisors LLC, the private investment group that manages billionaire former New York Mayor Michael Bloomberg's personal and philanthropic assets. He continues to be involved in public policy matters as the economic analyst for MSNBC's Morning Joe, and as a contributing opinion writer for The New York Times Op-Ed page.

Before joining the Obama Administration, he was a managing principal of the Quadrangle Group, a private equity investment firm that specialized in the media and communications industries. Prior to co-founding Quadrangle, he was an investment banker at Lehman Brothers, Morgan Stanley, and Lazard Freres & Co., where he rose to deputy chairman and deputy chief executive officer. Rattner began his career as a journalist for The New York Times.

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