Gleacher & — Broadpoint Gleacher Securities Group — Investor Presentation (September 2009)
17 slides from Gleacher &'s investor presentation, Sep 21, 2009
Slide 1: Broadpoint.Gleacher: A Next Generation Investment Bank
Broadpoint.Gleacher A Next generation investment bank september 2009 A NEXT GENERATION INVESTMENT BANK SEPTEMBER 2009
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains "forward-looking statements." These statements are not historical facts but instead represent the Company's belief regarding future events, many of which, by their nature, are inherently uncertain and outside of the Company's control. The Company
Slide 3: Investment Highlights
Investment Highlights Growing, independent, full-service investment bank Focusing on serving corporations and investors Offering value-added, world class advice and execution without conflicts Broadening product offering and expanding the client base Taking advantage of the dislocation of the curren
Slide 4: Broadpoint.Gleacher Culture
Broadpoint.Gleacher Culture Entrepreneurial founders with profit-driven history Disciplined business model Variable cost compensation Outsourced support costs Stand-alone business units Agency-driven, customer focused, free of conflicts Conservative balance sheet Low leverage Low risk and highly liq
Slide 5: Business Unit Overview
Business Unit Overview Business Unit Products Personnel Broadpoint.DESCAP Mortgages, Agencies, Treasuries, ABS, CLO, CDO 64 Total 38 Sales 14 Trading 4 Quantitative Analysts Debt Capital Markets High Yield, Investment Grade, Bank Debt, Convertibles, Preferred 91 Total 51 Sales 9 Trading 13 Desk Anal
Slide 6: What We've Accomplished to Date: Key Milestones
What We've Accomplished to Date: Key Milestones $50 MM MatlinPatterson Equity Investment Renamed Firm Broadpoint Securities Group Increased Capital to Broadpoint DESCAP Initiated Restructuring & Outsourcing Hired DCM Group from BNY Capital Markets Hired Investment Grade Sales and Trading Group Forme
Slide 7: Gleacher Partners: A Premium Advisory Brand
Eric Gleacher founded the M&A business at Lehman Brothers and was Global Head of M&A at Morgan Stanley, founded Gleacher Partners 20+ year history of providing superior, independent advice to major corporations Advisor to more than 100 clients representing over $250 billion of transaction value Glea
Slide 8: What We've Accomplished to Date: Staffing
What We've Accomplished to Date: Staffing 9/30/07 9/30/07 8/31/09 8/31/09 Count % Adds Terms Count % Client Facing 86 51% 219 76 229 72% Support 81 49% 107 100 88 28% Total 167 100% 326 176 317 100% 8 Note: Client facing headcount chart excludes six professionals from FATV. Client Facing Headcount I
Slide 9: What We've Accomplished to Date: Productivity
What We've Accomplished to Date: Productivity Broadpoint.Gleacher employee productivity calculated as annualized quarterly revenue divided by average headcount for the period. Other company employee productivity numbers calculated by Broadpoint.Gleacher using annualized quarterly revenue divided by
Slide 10: What We've Accomplished to Date: Financial Results
What We've Accomplished to Date: Financial Results Net Revenues ($MM) Pre Tax ($MM) (1) Annualized Net Revenue / Employee ($MM) Non Comp / Revenues (%) (1) Includes restructuring expenses in Q1 '08, Q2 '08 and Q3 '08 of $1.2 MM, $0.9 MM and $2.2 MM, respectively. 10 ($0.3) $17.3 $34.1 $32.3 $50.6 $7
Slide 11: Management Team
Management Team Eric Gleacher, Chairman Founded Gleacher Partners Led M&A department at Lehman Global Head of M&A at Morgan Stanley Lee Fensterstock, CEO Founder, Chairman, Co-CEO Bonds Direct (sold to Jefferies) PaineWebber Gruntal & Co. Peter McNierney, President & COO Former President, CEO of Bro
Slide 12: Business Objectives
Business Objectives Target Revenue Target Pre-Tax Profit Target Market Capitalization $750 million $175 million $2 billion Target Production / Person $1 million Note: The foregoing “Business Objectives” are goals and objectives that the Company hopes to achieve in the future. We cannot assure you th
Slide 13: Large Available Market
Large Available Market $150 billion annually with dislocation and deleveraging resulting in significant share opportunity Sources: Investment Banking fees per Dealogic. Secondary commissions equal to 2008 reported average daily trading volumes per SIFMA with average/assumed commission rates per Mana
Slide 14: Favorable Competitive Landscape
Favorable Competitive Landscape Credit crisis disrupted traditional bulge bracket relationships, reduced the balance sheet as a competitive advantage and left talented people and ideas as the key differentiator Few boutiques offer both advisory and public equity and debt capital raising 14 Firm M&A
Slide 15: Where Do We Go From Here: Growth Opportunities
Where Do We Go From Here: Growth Opportunities Build investment banking, leverage Gleacher relationships Restructuring Liability management Capital markets / financing Grow fixed income through increased share and new product areas Continue to grow sales force Leverage distribution and relationships
Slide 16: Investment Highlights
Investment Highlights Growing, independent, full-service investment bank Focusing on serving corporations and investors Offering value-added, world class advice and execution without conflicts Broadening product offering and expanding the client base Taking advantage of the dislocation of the curren
Slide 17: Broadpoint.Gleacher
Broadpoint.Gleacher Broadpoint.Gleacher
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