Company type | Private |
---|---|
Industry | Financial services |
Founded | 1999 |
Founder |
|
Headquarters | |
Area served | Worldwide |
Key people | Mark Walter (CEO) |
Products | Investment banking Capital markets Investment management Merchant banking Wealth management Insurance Exchange-traded funds Unit investment trusts |
Services | Diversified financial services |
AUM | $300 billion |
Number of employees | 2,400 |
Website | guggenheimpartners guggenheiminvestments |
Guggenheim Partners, LLC is a global investment and advisory financial services firm that engages in investment banking, asset management, capital markets services, and insurance services.
The firm is headquartered in New York City and Chicago. It has more than $310 billion of assets under management. [1] The firm's CEO is Mark Walter.
Guggenheim Partners provides services across asset management, investment banking, and broker dealer services including capital markets. Guggenheim Investment Advisors oversees about $50 billion in assets. [2] [3]
In October 2009, Guggenheim hired former J.P. Morgan head of Media Investment Banking Mark Van Lith as Senior Managing Director and Head of Investment Banking and former Apollo Global Management director and vice chairman Henry Silverman as vice chairman of asset management. [4]
In January 2013, Guggenheim named former Yahoo! interim CEO Ross Levinsohn as CEO of private equity unit Guggenheim Digital Media. [5]
In May & June 2013, the firm also hired Goldman Sachs Group Inc.'s co-head of U.S. leveraged finance capital markets Tom Stein, former Barclays head of retail investment banking and vice chairman Andrew Taussig, as well as managing directors Spencer Hart, Matthew Pilla, Ken Harada and Ryan Mash. [6]
In September 2013, Guggenheim Securities was named a financial adviser to Verizon in connection with its $130 billion acquisition of Vodafone's 45% stake in Verizon Wireless. [7]
In March 2014, Guggenheim Securities hired Eric Mandl as a Senior Managing Director focusing on Technology, Media and Telecom Investment Banking. [8]
Guggenheim Partners Investment Management, the investment arm of Guggenheim Partners, was charged by the Securities and Exchange Commission (SEC) with failure to disclose a $50 million loan made in 2010 to a senior executive from a client. The firm paid $20 million in 2015 to settle the charges. [9] The government agency also found that Guggenheim's compliance program did not prevent violations of federal securities laws. According to the SEC, the firm's employees did not report dozens of trips on clients' private airplanes and had overbilled a client $6.5 million in fees, taking nearly two years to reimburse them. [9]
On December 17, 2015, it was reported that the company would spin out its media properties into a new holding company, Eldridge Industries, owned by an investment group led by Guggenheim president Todd Boehly, consisting of Mediabistro, Billboard and The Hollywood Reporter , and Dick Clark Productions. [10] [11]
In April 2018, Invesco Ltd. announced that it completed its previously announced acquisition of Guggenheim Investments' exchange-traded funds (ETF) business, which consisted of $38.8 billion of assets under management (as of February 28, 2018) for $1.2 billion in cash. [12]
In October 2018, Guggenheim Securities was named the lead financial adviser to Red Hat in connection with its $34 billion sale to IBM. [13] The Red Hat sale was, at the time, the largest software transaction in history. [14]
In September 2019, Donini was named to the additional role of Chief Operating Officer of Guggenheim Partners and Andrew Rosenfield, a managing partner, was appointed president. [15] Also in September 2019, Guggenheim hired former Deputy United States Attorney and Director of the Division of Enforcement of the Securities and Exchange Commission Robert S. Khuzami as a Managing Partner and Chief Legal Officer. In the private sector Khuzami was a partner at Kirkland & Ellis LLP and worked at Deutsche Bank AG, including as General Counsel for the Americas. [16]
In May 2009, Guggenheim Partners acquired a controlling interest in financial services firm Transparent Value LLC. [17] In July 2009, it acquired Claymore Group, a firm known for its Exchange-traded funds and unit investment trusts. [18] In December 2009, Guggenheim acquired a division of Wellmark and renamed it Guggenheim Life & Annuity. [19] In February 2010, Guggenheim Partners acquired Security Benefit Corp, parent company of Rydex Funds. [20] In October 2011, it acquired the life insurance company EquiTrust from FBL Financial Group. [21] In 2012, Guggenheim affiliates acquired the US annuities business of Canadian insurers Industrial Alliance and Sun Life Financial. [22] [23]
In July 2014, Guggenheim announced the launch of a representative office in Tokyo and the hiring of Atsuhito Sakai as Senior Managing Director and Guggenheim's Representative in Japan.[ citation needed ] Also in 2014, the firm acquired the London operations of Lazard Capital Markets. [24] Guggenheim Securities expanded its investment banking business in July 2019 in Chicago with the hiring of two senior bankers from William Blair's technology group, James Suprenant and Scott Stevens. [25]
That September, Guggenheim bought a stake in the entertainment production company Dick Clark Productions, [26] which produces specials such as the American Music Awards and the Golden Globe Awards and other television programming.
In January 2013, the company bought out the remainder of the business-to-business media company Prometheus Global Media [27] [28] and acquired CardCash in November of the same year.[ citation needed ] In February 2014, Guggenheim Partners acquired the Los Angeles Sparks of the WNBA. [29]
In November 2021, it was reported that Guggenheim Investments, alongside the actor Channing Tatum and fellow investment company Endeavor, had agreed to backstop the planned $1 billion merger between Los Angeles-based blank-check firm Bright Lights and Manscaped. [30]
State Street Corporation, is a global financial services and bank holding company headquartered at One Congress Street in Boston with operations worldwide. It is the second-oldest continually operating United States bank; its predecessor, Union Bank, was founded in 1792. State Street is ranked 14th on the list of largest banks in the United States by assets. It is one of the largest asset management companies in the world with US$3.7 trillion under management and US$40.0 trillion under custody and administration in 2023. It is the largest custodian bank in the world, providing securities services and it is considered a systemically important bank by the Financial Stability Board. Along with BlackRock and Vanguard, State Street is considered to be one of the Big Three index fund managers that dominate corporate America.
Morgan Stanley is an American multinational investment bank and financial services company headquartered at 1585 Broadway in Midtown Manhattan, New York City. With offices in 41 countries and more than 75,000 employees, the firm's clients include corporations, governments, institutions, and individuals. Morgan Stanley ranked No. 61 in the 2023 Fortune 500 list of the largest United States corporations by total revenue and in the same year ranked #30 in Forbes Global 2000.
The Carlyle Group Inc. is an American multinational private equity, alternative asset management and financial services corporation based in the United States with $426 billion of assets under management. It specializes in private equity, real assets, and private credit. It is one of the largest mega-funds in the world. In 2015, Carlyle was the world's largest private equity firm by capital raised over the previous five years, according to the PEI 300 index. In the 2024 ranking however, it had slipped to sixth place.
Brookfield Corporation is a Canadian multinational company that is one of the world's largest alternative investment management companies, with over US$725 billion of assets under management in 2022. It focuses on direct control investments in real estate, renewable power, infrastructure, credit and private equity. The company invests in distressed securities through Oaktree Capital, which it bought in 2019. Brookfield's headquarters are in Toronto.
The Charles Schwab Corporation is an American multinational financial services company. It offers banking, commercial banking, investing and related services including consulting, and wealth management advisory services to both retail and institutional clients. It has over 380 branches, primarily in financial centers in the United States and the United Kingdom. It is on the list of largest banks in the United States by assets. As of December 31, 2023, it had $8.5 trillion in client assets, 34.8 million active brokerage accounts, 5.2 million corporate retirement plan participants, and 1.8 million banking accounts. It also offers a donor advised fund for clients seeking to donate securities. It was founded in San Francisco, California, and is headquartered in Westlake, Texas.
Invesco Ltd. is an American independent investment management company that is headquartered in Atlanta, Georgia, with additional branch offices in 20 countries. Its common stock is a constituent of the S&P 500 and trades on the New York Stock Exchange. Invesco operates under the Invesco, Invesco Perpetual, and Powershares brand names.
Raymond James Financial, Inc. is an American multinational independent investment bank and financial services company providing financial services to individuals, corporations, and municipalities through its subsidiary companies that engage primarily in investment and financial planning, in addition to investment banking and asset management. Headquartered in St. Petersburg, Florida, Raymond James is one of the largest banking institutions in the United States.
Kroll is a financial and risk advisory firm established in 1932 and based in New York City. In 2018, Kroll was acquired by Duff & Phelps. In 2021, Duff & Phelps decided to rebrand itself as Kroll, a process it completed in 2022.
Ameriprise Financial, Inc. is an American diversified financial services company and bank holding company based in Minneapolis, Minnesota. It provides financial planning products and services, including wealth management, asset management, insurance, annuities, and estate planning.
TD Cowen, is an American multinational investment bank and financial services division of TD Securities that operates through two business segments: a broker-dealer and an investment management division.
Jefferies Group LLC is an American multinational independent investment bank and financial services company that is headquartered in New York City. The firm provides clients with capital markets and financial advisory services, institutional brokerage, securities research, and asset management. This includes mergers and acquisitions, restructuring, and other financial advisory services. The Capital Markets segment also includes its securities trading and investment banking activities.
Evercore Inc., formerly known as Evercore Partners, is a global independent investment banking advisory firm founded in 1995 by Roger Altman, David Offensend, and Austin Beutner. The firm has advised on over $4.7 trillion of merger, acquisition, and restructuring transactions since its founding. Evercore is widely considered one of the most prestigious and elite investment banking advisory firms.
Perella Weinberg Partners is an American global financial services firm focused on investment banking advisory services.
Stifel Financial Corp. is an American multinational independent investment bank and financial services company created under the Stifel name in July 1983 and listed on the New York Stock Exchange on November 24, 1986. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in downtown St. Louis, Missouri.
The Bank of New York Mellon Corporation, doing business as BNY, is an American banking and financial services corporation headquartered in New York City. The bank offers investment management, investment services, and wealth management services. BNY was formed from the merger of The Bank of New York and the Mellon Financial Corporation in 2007. Following the merger, it adopted the brand name The Bank of New York Mellon, which was later simplified to BNY Mellon and later again to BNY. It is the world's largest custodian bank and securities services company, with $2 trillion in assets under management and $48.8 trillion in assets under custody as of 2024. It is considered a systemically important bank by the Financial Stability Board.
Macquarie Group Limited is an Australian global financial services group. Headquartered and listed in Australia, Macquarie employs more than 20,000 staff in 34 markets, is the world's largest infrastructure asset manager and Australia's top ranked mergers and acquisitions adviser, with more than A$871 billion in assets under management.
Canaccord Genuity Group Inc. is a global, full-service investment banking and financial services company that specializes in wealth management and brokerage in capital markets. It is the largest independent investment dealer in Canada. The firm focuses on growth companies, with operations in 10 countries worldwide and the ability to list companies on 15 stock exchanges. Canaccord Genuity, the international capital markets division, is based in Canada, with offices in the US, the UK, France, Germany, Ireland, Hong Kong, China, Singapore, Dubai, Australia, Barbados, and The Bahamas.
Oppenheimer Holdings Inc. is an American multinational independent investment bank and financial services company offering investment banking, financial advisory services, capital markets services, asset management, wealth management, and related products and services worldwide. The company, which once occupied the One World Financial Center building in Manhattan, now bases its operations at 85 Broad Street in New York City.
UBS Group AG is a multinational investment bank and financial services company founded and based in Switzerland. Headquartered in Zürich, it maintains a presence in all major financial centres as the largest Swiss banking institution and the largest private bank in the world. UBS client services are known for their strict bank–client confidentiality and culture of banking secrecy. Because of the bank's large positions in the Americas, EMEA and Asia Pacific markets, the Financial Stability Board considers it a global systemically important bank.
Robert S. Khuzami was the Deputy U.S. Attorney for the United States Attorney's Office for the Southern District of New York until March 22, 2019. He previously was a United States federal prosecutor and Assistant United States Attorney for the office, and a former director of the Division of Enforcement of the U.S. Securities and Exchange Commission. He was previously a partner at law firm Kirkland & Ellis. and general counsel of Deutsche Bank AG.