1. Home
  2. Our Firm
  3. News
  4. Guggenheim Securities Adds Municipal Investment Banking and Underwriting Team

Our Firm

March 09, 2011

Guggenheim Securities Adds Municipal Investment Banking and Underwriting Team

New Group Bolsters Guggenheim’s Existing Municipal Capabilities

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:

• 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.

• 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.

• 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.

• 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.



May 16, 2018

Guggenheim 2Q Fixed-Income Outlook: Preparing for Long-Awaited Choppier Markets

NEW YORK, NY –  Guggenheim Investments, the global asset management and investment advisory business of Guggenheim Partners, today provided its Second Quarter 2018 Fixed-Income Outlook, “Positioned for Choppier Waters.”

Read More

May 11, 2018

Guggenheim Partners Impact Report

The second edition of the impact report highlights our accomplishments in the areas of social impact and sustainable business practices.

Read Report

May 03, 2018

Guggenheim Securities Hires Mandar Vadhavkar to Expand Healthcare Investment Banking Group

Guggenheim Securities, the investment banking and capital markets division of Guggenheim Partners, announced today that Mandar Vadhavkar will join the firm as a Senior Managing Director in the firm’s Healthcare investment banking group, with a focus on advising companies in the healthcare services sector.

Read More



© 2018 Guggenheim Partners, LLC. All rights reserved. Guggenheim, Guggenheim Partners and Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC.