Siebert Williams Shank - 30 Years Delivering Financial Impact
Leading National women-and-minority-owned investment bank celebrates 30th anniversary
Siebert Williams Shank, one of America’s leading women- and minority-owned investment banking firms, is marking 30 years of Wall Street leadership.
What began with 5 offices has since grown to encompass 27 regional offices across the United States. The firm has been responsible for underwriting trillions of dollars’ worth of municipal and corporate bonds, agencies, and equity offerings, serving over 675 corporate clients, in addition to 1,000 institutional investors, nearly 1,500 municipal clients, and 8 government-sponsored entities and supranationals.
Founded in October 1996 by Suzanne Shank, CEO since inception, together with Wall Street pioneer Muriel Siebert, and Napoleon Brandford III, it quickly became a significant national presence in municipal underwriting. Starting as an entirely municipal-focused firm, Siebert Williams Shank expanded into corporate bonds and equities through mergers and acquisitions. With over $1.4 trillion of municipal bond deals and a 90% municipal client retention across three decades, the firm has been one of the most active U.S. IG managers and is a prominent firm for deals over $1.5 billion as senior or joint senior managers.
“The firm’s foundations were built upon the principle of creating a unique, high performing investment bank that just happened to have diverse ownership. In 30-years we have grown organically and through mergers and acquisitions, to become among the most active participants in the capital markets and a leading player in municipal bond underwriting nationally,” said Suzanne Shank. “Over that period, when other firms took a step back from these market sectors, we have continually expanded the firm’s presence through building and adding top industry talent.”
Maintaining its status as one of the top-ranked senior managers according to LSEG’s SDC rankings, Siebert Williams Shank was ranked #2 in New York and Michigan, #5 in Airports, #6 in Water & Sewer, #8 in Transportation and #10 in Higher Education. In 2025, it lead-managed its 43rd municipal bond deal over $1 billion.
“Siebert Williams Shank is a dynamic industry leader, transacting some of the most significant financings throughout our nation,” said Keith Richard, Head of Public Finance. “Our 30-year history reflects a legacy of excellence, innovation, and client service. Building on that strong foundation, the firm has continually expanded its expertise and analytical capabilities, allowing us to deliver sophisticated solutions and deep market insights to issuers and investors alike.”
In 2025 firm clients were recognized with the Bond Buyer Deal of the Year Award, for the seventh consecutive year. This included a $1.21 issuance for Columbus Regional Airport Authority, $1.95 for JFK Millennium Partners-Terminal 6 and $454.3 million for the State of Wisconsin. Overall, the firm served 328 municipal transactions with $108 billion in par-amount and was Senior Manager on 91 transactions totaling $25 billion.
DECADE OF DYNAMIC GROWTH:
In 2016, the firm added new equity partners including, Henry Cisneros, the first Latino mayor of San Antonio, and former US HUD Secretary; William C. Thompson, 42nd New York City Comptroller; Sean Duffy, Head of Institutional Sales and Trading; and Gary Hall, now firm co-president. Following a 2019 merger with The Williams Capital Group, led by Christopher Williams, now firm chairman, two MWBE firms joined to form one of the top MWBE investment banks in the United States.
“For 30 years, Siebert Williams Shank has continually advanced its market presence and penetration, raising essential capital that underwrites our American economy, jobs and infrastructure. This firm brings exactly the right technical expertise and market insight to bridge the capital needs of our nation’s public institutions and the requirements of exceptionally knowledgeable investors." said Vice Chairman Henry Cisneros.
Siebert Williams Shank has developed a robust corporate client base that includes 80 of the Fortune 100 and, in 2025, the firm helped 108 clients raise $378 billion in over 180 debt transactions alongside $22 billion in asset-backed securities (ABS), including the funding of several preeminent AI and energy infrastructure projects and some $150 billion of investment grade issuances for financial institutions. The corporate group served as Joint Bookrunner / Lead Manager on its 145th deal. It’s Clear Vision Impact Fund (CVIF) is a $145 million private credit fund that provides loans to small businesses focused on creating jobs, improving training opportunities, and enhancing business outcomes.
PROPELLING SOCIAL IMPACT:
The past 30 years have established Siebert Williams Shank as both a leader in its industry and a steward of social responsibility, as it has developed business endeavors to uplift underrepresented communities. Its long-running summer fellowship program has helped to guide and direct hundreds of the next generation of in the finance industry, while firm leaders have maintained a key presence with financial industry regulatory organizations, including MSRB, FINRA, NAST, SIFMA and STA.
In 2025, the company’s charitable arm, the Siebert Williams Shank Foundation donated to over 100 organizations doing important work in communities all across America. In the immediate aftermath of January 2025’s Los Angeles wildfires, the foundation donated to the California Community Foundation Wildfire Recovery Fund and the Los Angeles Fire Department Foundation to aid recovery efforts.
Dually headquartered in New York, NY and Oakland, CA, Siebert Williams Shank is an independent non-bank financial services firm that offers investment banking, sales and trading, research, and advisory services. Its mission is to exceed expectations through value-added results and leave a lasting impact on the sectors, corporations, and communities it serves. Siebert Williams Shank counts over 80 Fortune 100 companies among its clients.
