Siebert Cisneros Shank & Co and The Williams Capital Group have unveiled their merger plans to establish Siebert Williams Shank & Co, a dominant women-and minority-owned investment bank.
The combined new company, Siebert Williams Shank & Co. is expected to combine the corresponding strengths of both the firms, and create a platform to serve clients across industries and asset classes.
Under the terms of the transaction, Suzanne Shank would join the new company as president and chief executive officer, Christopher Williams would serve as chairman for the board of directors, and Henry Cisneros would serve as vice chairman of the combined firm.
Shank said: “By bringing together two first-class firms, we will accelerate our collective success and greatly enhance our ability to serve our clients using a strong capital base that is now significantly larger. We are creating the #1 ranked MWBE investment banking firm in the country that will continue to compete with the best firms on Wall Street.
“Williams was the only firm with the capabilities, talent, and integrity in the corporate underwriting space that we felt expanded our franchise and matched our work-ethic and high-standards of performance, and now, we have created a truly historic firm.”
Siebert Williams Shank will be headquartered in New York
Williams Capital participates in debt and equity financings for a wide range of corporate clients and in past five years, the company has participated in over 900 corporate offerings of debt and equity, as both co-manager and book runner.
Founded in 1996, Siebert has been managing municipal bond transactions, and has gained experience through managing transactions for municipal issuers and serving as a bookrunning senior manager.
The company has participated in approximately 2,000 municipal financings in the past five years and served as lead manager on more than 200 financings, totalling approximately $30bn
The newly formed Siebert Williams Shank is planned to be headquartered dually in New York, and Oakland, California, with more than 15 offices across the US, and is expected to benefit from the experienced executive leadership of its each predecessor company.
The merger is expected to be closed in early November 2019 with the renaming of the broker-dealer’s holding company to Shank Williams Cisneros, and the complete rebranding of the broker-dealer to Siebert Williams Shank & Co is scheduled for January 2020.
