Eric Gleacher, former head of M&A at Lehman Brothers, has turned to his old bank to lead the $500m (€423m) initial public offering of his new company, Gleacher Investment Corporation.

Gleacher became a partner at Lehman in 1973 and founded the M&A department in 1978. He subsequently joined Morgan Stanly and in 1984 became head of global M&A before founding Gleacher Partners, a private investment and advisory firm in 1990. The Gleacher Investment float brings to 20 the number of financial sector companies to file for an initial public offering in the US in the last two months, according to Dealogic, the investment banking research firm.