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Guggenheim Securities Adds Municipal Investment Banking and Underwriting Team

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NEW YORK--(EON: Enhanced Online News)--Guggenheim Securities, a subsidiary of Guggenheim Partners, today announced that it has hired a four-person public finance team to provide primary municipal underwriting. img border='0' title='Add to Google' alt='Add to Google' src='htt

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									Guggenheim Securities Adds Municipal
Investment Banking and Underwriting Team
New Group Bolsters Guggenheim’s Existing Municipal Capabilities

March 09, 2011 03:20 PM Eastern Time 

NEW YORK--(EON: Enhanced Online News)--Guggenheim Securities, a subsidiary of Guggenheim Partners, 
today announced that it has hired a four-person public finance team to provide primary municipal underwriting. The
new team, co-headed by Ramiro Albarran and Jeff Hyman, will complement Guggenheim’s existing capabilities in
the secondary municipal market.

“Municipal finance is an active and exciting sector in today’s economy, and it is an important market for
Guggenheim,” said Alan Schwartz, executive chairman of Guggenheim Partners. “Since forming our municipal sales
and trading effort in 2008, we have steadily built a formidable team with deep expertise and a proven track record in
the secondary markets. Banking is the next logical step in expanding our public finance footprint. Under Ramiro and
Jeff’s leadership, this new team will further bolster our growing range of services and capabilities.” 

Guggenheim’s new public finance team all join from Stone & Youngberg:

    l   Ramiro Albarran joins Guggenheim as managing director and co-head of public finance with 23 years of
        experience. Prior to joining the firm, he was managing director and head of East Coast public finance at Stone
        & Youngberg. Prior to that he was head of public finance at Banc of America Securities. Albarran specializes
        in project finance, real estate and other specialty municipal banking.
    l   Jeff Hyman joins Guggenheim as managing director and co-head of public finance. Hyman has 16 years of
        public finance experience and was most recently managing director at Stone & Youngberg. Prior to that he
        was managing director and head of Northeast U.S. public finance at JPMorgan Chase and, prior to that, was
        managing director and head of New York public finance at UBS/PaineWebber. Hyman specializes in project-
        related finance, securitizations, story bonds and infrastructure finance.
    l   Walter Kulakowski joins the firm as managing director, public finance. He has 24 years of public finance
        experience, including senior positions at Stone & Youngberg, Roosevelt & Cross and Citigroup, where he led
        solid waste, water and sewer, and state revolving funds finance practices. Kulakowski’s expertise is in
        infrastructure finance, privatization, environmental and energy credits.
    l   Jay Murphy joins as managing director, underwriter. He has over 30 years of public finance experience and
        was most recently managing director and head of national underwriting at Stone & Youngberg. Prior to that,
        he was vice president and co-head of the syndicate/underwriting desk at Goldman Sachs. Murphy has broad
        experience in both competitive and negotiated underwriting across the municipal credit spectrum

Guggenheim’s municipal team was formed in 2008. Based in Guggenheim’s New York office, the group provides
sales, trading and research to a wide range of institutional clients.

About Guggenheim Partners

Guggenheim Partners, LLC is a privately held global financial services firm with more than $100 billion in assets
under supervision including management of assets of approximately $80 billion. The firm provides investment
management, investment banking and capital markets services as well as insurance and investment advisory solutions 
for institutions, corporations, governments and agencies, investment advisors, family offices and individuals.
Guggenheim Partners is headquartered in New York and Chicago and serves clients from more than 22 offices in
nine countries. For more information, please visit www.guggenheimpartners.com.

Contacts
Guggenheim Partners
Jeffrey Kelley
312-977-4029
Jeffrey.kelley@guggenheimpartners.com

Permalink: http://eon.businesswire.com/news/eon/20110309006813/en/municipal-finance/muni-bonds/public-
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