UPDATE 2-Gleacher says in merger talks; to exit fixed-income business

... since the beginning of the year. Gleacher has replaced its executive team, closed its equities business, sold its mortgage-origination unit and fired more than 100 traders and bankers in the past year, and posted a slew of losses, weakening client ...

http://www.reuters.com/article/2013/04/10/gleacher-fixedincome-idUSL3N0CXJNA20130410?feedType=RSS&feedName=financialsSector