Gleacher Shacklock has hired former Lazard banker Michael Grayer to build a dedicated debt advisory team as it continues to push beyond its traditional advisory strengths of pure mergers and acquisitions and restructuring work.

Grayer, who joined Lazard in 2008 from GE Commercial Finance and left earlier this year, is to join Gleacher Shacklock in the new role of head of debt advisory, and will build a team around him.