June 4, 2013 / 1:10 PM / 6 years ago

Gleacher to exit investment banking business

June 4 (Reuters) - Gleacher & Co said it would exit investment banking, its last major business, and hired Capstone Advisory Group to assist in evaluating options including winding down the company.

Gleacher said the options also include a sale of the company and reinvesting its liquid assets.

The company, which previously closed its equities and fixed income businesses, last posted a profit in the December quarter of 2011.

Shutting the investment banking business will affect about 20 employees, New York-based Gleacher said.

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