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Press release content from Globe Newswire. The AP news staff was not involved in its creation.

Merger Closes to Form Siebert Williams Shank, Top Independent Financial Services Firm

November 5, 2019

NEW YORK, Nov. 05, 2019 (GLOBE NEWSWIRE) -- The merger to create America’s top ranked women- and minority-owned investment bank, Siebert Williams Shank & Co., LLC (SWS) closed today, bringing together two of Wall Street’s highly ranked firms in corporate and municipal underwriting, and debt and equity sales and trading.

Dually headquartered in New York City and Oakland, CA, with more than 15 offices across the nation and 130 employees, the combined company unites the complementary strengths of its predecessor firms—Siebert Cisneros Shank & Co., L.L.C. and The Williams Capital Group, L.P.—to serve a diverse array of clients across industries and asset classes.

Suzanne Shank is the President and Chief Executive Officer; Christopher Williams serves as Chairman of the Board of Directors; and Henry Cisneros, the former Secretary of the Department of Housing and Urban Development (HUD), is Vice Chairman. SWS is a wholly owned subsidiary of Shank Williams Cisneros, LLC.

Williams Capital brings a broad spectrum of corporate clients, including over 65 Fortune 100 companies, having participated in over 900 corporate debt and equity offerings, as both co-manager and bookrunner, over the past five years. Siebert has managed transactions for over 90% of the 50 largest municipal issuers and has served as bookrunning senior manager for 9 of the nation’s 10 largest municipal issuers.

SWS will leverage its principals’ shared passion for entrepreneurship, direct day-to-day client engagement, and records of delivering for clients, employees, and communities. The integration of operational and trading infrastructure is expected to be seamless.

The combined firm’s other equity holders include Janice Savin Williams, Sean P. Duffy, William C. Thompson, Gary Hall, Jonathan W. Levin, DiAnne Calabrisotto, David Coard, and David Finkelstein.

The company name pays homage to the trailblazing legacy of Muriel Siebert, a co-founder of Siebert Cisneros Shank and the first woman to own a seat on the New York Stock Exchange.

Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to Siebert Cisneros Shank. Sidley Austin LLP served as legal advisor to Williams Capital.

Photos accompanying this announcement are available at

https://www.globenewswire.com/NewsRoom/AttachmentNg/3a8a362c-8111-4e59-b0ed-c420c9a5738a

https://www.globenewswire.com/NewsRoom/AttachmentNg/57432c9c-f7cf-4ca8-81a7-cf7c071d49ee

https://www.globenewswire.com/NewsRoom/AttachmentNg/75b32dfc-0777-4aad-b31e-70c559103e3d

CONTACT: Butler Associates Jason Fink: 646-213-1369 / jfink@butlerassociates.com  Patrick Rheaume: 646-213-1342 / prheaume@butlerassociates.com