Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, has agreed to acquire the London operations of Lazard Capital Markets (LCM).
Subject to FCA approval, the transaction will enable Guggenheim to perform a range of sales and trading operations, primarily focusing on European corporate and sovereign debt and US and foreign equities.
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The acquisition will see Duncan Riefler, managing director at LCM, and his team comprising 10 staff, moving to Guggenheim Securities.
In his new role, Riefler will report to Ronald Iervolino, Senior Managing Director and Head of Fixed Income, based in New York.
The team joining Guggenheim includes David Corney, Phillip Bloch, Jay Larkin, Nannette Bax-Stevens, Piero Greco, Samir Patel and Alison Kilsby.
Following the acquisition, Guggenheim will operate the business under the new brand namely Guggenheim Securities International Ltd.
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By GlobalDataAlan Schwartz, executive chairman of Guggenheim Partners and CEO of Guggenheim Securities, said: "At a time when many European clients are looking to restructure and find funding in the capital markets, we believe that the client-focus partnership model that has served us so well in building our business in the United States will allow us to extend our growth throughout Europe, and this is an important step toward that."
