Guggenheim Securities Agrees to Acquire Lazard Capital Markets' London Operations, Hires Staff of 10 Professionals; terms not disclosed
Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, today announced the execution of a definitive purchase agreement to acquire the London operations of Lazard Capital Markets (LCM), expanding the firm's international presence. Consummation of the transaction is subject to approval by the Financial Conduct Authority.
The acquisition, upon approval, would allow Guggenheim to conduct a range of sales and trading operations, with an initial focus on European corporate and sovereign debt and U.S. and foreign equities.
Guggenheim plans to operate the business under the new name of Guggenheim Securities International Ltd.
As part of the acquisition, Guggenheim is welcoming LCM's team of 10 professionals, led by Duncan Riefler, who ran the LCM London office. He will report to Ronald Iervolino, Senior Managing Director and Head of Fixed Income, based in New York.