Gleacher & Co., which is exiting the equities business after a strategic review, is concentrating instead on efforts that include a continuing build-out of its conforming/Jumbo origination unit aimed at complementing its fixed income sales and trading platform.
“We'd be looking to lever those capabilities between the two organizations,” chief executive officer Thomas Hughes said. “We will continue our investment so that we can originate in 48 states.”
The company plans to package, securitize and sell its best quality conforming and nonconforming loans. Its focus is slated to generally be on what it describes as high quality product.
Gleacher originates through the wholesale ClearPoint Funding unit it acquired at the outset of this year.
