Siebert Williams Shank
Siebert Williams Shank is an independent, privately held non-bank financial services firm providing investment banking, sales & trading, and research to corporations (including 80 Fortune 100), 1,200+ municipal issuers, and 1,000+ institutional investors across 29 U.S. offices, operating as the #1 U.S. M/WBE investment bank since 2019.
- Company typePrivate
- Founded1996
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What Siebert Williams Shank does
Siebert Williams Shank & Co., LLC is an independent, privately held non-bank financial services firm founded in 1996 and headquartered in both New York (100 Wall Street) and Oakland (1901 Harrison Street). The firm operates through three core divisions — Investment Banking (corporate and municipal finance), Sales & Trading (equity, taxable fixed income, and municipal fixed income), and Research — serving a client base that includes 80 of the Fortune 100, more than 500 corporate issuers, 1,200+ municipal issuers, and 1,000+ institutional investors across 29 U.S. offices. Services span debt underwriting (investment-grade, high-yield, and ABS), equity execution and share repurchase (nearly 2 billion shares over 20+ years), public finance for airports, water/sewer, transportation, higher education, and general infrastructure, and dedicated equity research on U.S. Energy & Infrastructure.
The firm generates revenue through three principal streams: (1) underwriting and advisory fees on debt capital markets transactions where SWS acts as senior manager, co-manager, or bookrunner, (2) trading commissions and market-making across equity, taxable fixed income, and municipal fixed income, with over 50% of secondary market activity routed through Separately Managed Account (SMA) and private wealth channels, and (3) advisory fees for corporate and municipal financial counsel. Pricing is transaction-based and negotiated deal-by-deal; not publicly disclosed.
A defining structural differentiator is the firm's Women/Minority Business Enterprise (W/MBE) certification, which has held the #1 ranking in U.S. M/WBE investment banking since 2019 and unlocks supplier-diversity mandates that bulge-bracket competitors cannot serve. In April 2022, Apollo Global Management made a strategic equity-and-credit investment to expand underwriting capacity and enable larger-deal origination. The firm has compounded this positioning with 7 consecutive years (2019-2025) of Bond Buyer Deal of the Year awards, #1 ranking in Peer Group Investment Grade USD Bookrunner rankings in 2025, and record 2025 transaction volumes of approximately $400 billion raised across 180+ corporate debt transactions and $108 billion in par amount across 329 municipal transactions. Adjacent platforms include the Clear Vision Impact Fund (private credit, ~$145M Fund 1 fully deployed) and the SWS Foundation.
Siebert Williams Shank firmographics
Firmographics- Name
- Siebert Williams Shank
- Legal name
- Siebert Williams Shank & Co., LLC
- Website
- https://siebertwilliams.com
- Company type
- Private
- Founded year
- 1996
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Siebert Williams Shank is an independent, privately held non-bank financial services firm providing investment banking, sales & trading, and research to corporations (including 80 Fortune 100), 1,200+ municipal issuers, and 1,000+ institutional investors across 29 U.S. offices, operating as the #1 U.S. M/WBE investment bank since 2019.
- Ownership category
- akta.pro rank
Siebert Williams Shank industry classification
Industry- Product category
- Investment Banking
- NAICS
- Securities, Commodity Contracts, and Other Financial Investments and Related Activities (523), Portfolio Management and Investment Advice (52394), Other Financial Investment Activities (5239)
- SIC
- Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)
- akta.pro primary industry
- Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory) (BPAHAOAL)
- akta.pro secondary industry
- Industry-Specialist / Sector-Focused M&A Advisory (FSAEAGAJ)
Keywords
Where Siebert Williams Shank is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices21 records
Markets served
Siebert Williams Shank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Investment Banking - Underwriting: Debt underwriting fees from municipal and corporate bond issuances. The firm serves as senior manager, co-manager, or bookrunner on debt transactions.
- Sales and Trading: Equity, taxable fixed income, and municipal fixed income sales and trading services to institutional clients. Revenue generated through trading commissions and market-making activities.
- Advisory Services: Advisory fees from providing strategic financial counsel to corporate and municipal clients on capital markets transactions.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels9 records
Siebert Williams Shank product offering
Product offeringCore offering
Siebert Williams Shank is an independent non-bank financial services firm that delivers full-service investment banking, sales and trading, equity research, and capital markets advisory to institutional and municipal clients. The firm acts as senior manager, co-manager, or bookrunner on municipal and corporate debt issuances, provides equity and fixed-income sales/trading to institutional investors, and executes corporate share repurchase programs. Core segments are Corporate Finance and Municipal Finance, supported by an institutional sales force distributing to 1,000+ institutional accounts and a professional retail SMA channel.
Product overview
Siebert Williams Shank is an independent non-bank financial services firm offering investment banking, sales and trading, research, and advisory services. The firm operates through distinct but interconnected divisions: Investment Banking (corporate and municipal finance), Sales & Trading (equity, taxable fixed income, and municipal fixed income), and Research (equity research and Energy Policy Perspectives publication). Services include debt structuring, underwriting, share repurchase programs, and capital markets advisory, supported by the 'In Conversation with SWS' podcast for thought leadership content.
Differentiator
Problem solved
Functional benefit
Products and services
- Investment Banking Full-service investment banking including advisory, structuring, and execution for debt and equity transactions for corporate and institutional clients.
- Equity Sales, Trading & Research Equity execution services to institutional clients covering single-stock, ETF, program, and block trades, with dedicated equity research on U.S. Energy & Infrastructure sector.
- Taxable Fixed Income Sales & Trading Institutional sales, trading, and capital markets platform across fixed income products including government/agencies, corporate bonds, asset-backed securities, and mortgage-backed securities.
- Municipal Fixed Income Sales & Trading Marketing of municipal bonds across all credit ratings to institutional and professional retail investors, serving mutual funds, insurance companies, and investment advisors.
- Municipal Finance Public finance services for municipal issuers including debt structuring, underwriting, and sales & trading for education, housing, transportation, utilities, and general infrastructure projects.
- Corporate Finance Corporate capital markets services including debt portfolio management, tax-exempt and taxable debt structuring, and project financing strategies.
- Share Repurchase Services Execution of share repurchase programs for corporate management teams, with regulatory-guideline expertise and a 20+ year track record of nearly 2 billion shares executed.
Quantifiable outcome
- $6.7 trillion in total financings completed
- +4 more outcomes
Companies that use Siebert Williams Shank
Customer profileNamed customers16 records
Segments4 records
Ideal customer profiles3 records
Siebert Williams Shank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Siebert Williams Shank partnerships and signals
Strategic signalScale indicators14 records
Recent moves8 records
Expansion highlights6 records
Siebert Williams Shank competitors and assessment
Company assessmentDirect peers
- Loop Capital Markets: Chicago-based minority-owned investment bank and broker-dealer providing investment banking, sales and trading, and municipal finance services. Closest direct competitor to SWS in the M/WBE investment banking category with overlapping municipal and corporate debt capital markets capabilities.
- Samuel A. Ramirez & Co. Hispanic-owned investment bank and broker-dealer focused on municipal underwriting, fixed income sales and trading, and corporate finance. Direct M/WBE peer to SWS competing for the same municipal and corporate debt mandates, particularly with Latino-focused and diverse issuer relationships.
- Cabrera Capital Markets: Minority-owned full-service investment bank and broker-dealer providing public finance, institutional brokerage, and equity research. Directly comparable M/WBE peer with overlapping municipal underwriting, fixed income trading, and corporate finance capabilities.
Emerging players
- CastleOak Securities: Minority-owned broker-dealer focused on fixed income sales, trading, and underwriting for institutional clients. Competes with SWS in taxable fixed income and municipal trading, with a narrower product set but similar diversity-driven go-to-market positioning.
- Blaylock Van: Minority-owned investment bank specializing in public finance, corporate finance, and fixed income trading. Competes with SWS on municipal underwriting mandates and corporate debt capital markets, particularly with public-sector and community-focused issuers.
Broad incumbents
- Morgan Stanley: Global bulge-bracket investment bank with leading municipal and corporate debt capital markets franchises. Competes with SWS on Fortune 100 corporate debt mandates and large municipal underwriting syndicates where SWS often participates as a co-manager.
- JPMorgan: Global bulge-bracket bank with top-tier municipal and corporate underwriting franchises. Competes with SWS on the largest debt capital markets transactions and frequently co-manages alongside SWS, as in the $2B University of California transaction.
- Goldman Sachs: Global bulge-bracket investment bank dominating investment-grade debt underwriting and equity capital markets. Competes with SWS for Fortune 100 corporate mandates and large municipal issues where it typically leads and SWS participates.
Regional players
- Stifel Financial: Mid-market full-service investment bank with strong public finance and institutional brokerage businesses. Comparable to SWS in mid-sized municipal and corporate mandates but with a broader wealth management and equity research footprint.
- Robert W. Baird: Mid-sized private investment bank with public finance, fixed income, and equity research franchises. Comparable to SWS in serving middle-market municipal issuers and institutional fixed income clients, though SWS holds a stronger M/WBE position.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Siebert Williams Shank social profiles
Digital presenceSiebert Williams Shank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Siebert Williams Shank leadership team
Management profileNumber of profiles
Profiles16 records
Siebert Williams Shank subsidiaries and ownership
Company hierarchySubsidiaries2 records
Siebert Williams Shank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Siebert Williams Shank M&A and investment
M&A and investmentM&A
Investments1 record
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Siebert Williams Shank
What does Siebert Williams Shank do?
Siebert Williams Shank is an independent non-bank financial services firm that delivers full-service investment banking, sales and trading, equity research, and capital markets advisory to institutional and municipal clients. The firm acts as senior manager, co-manager, or bookrunner on municipal and corporate debt issuances, provides equity and fixed-income sales/trading to institutional investors, and executes corporate share repurchase programs. Core segments are Corporate Finance and Municipal Finance, supported by an institutional sales force distributing to 1,000+ institutional accounts and a professional retail SMA channel.
Is Siebert Williams Shank a public or private company?
Siebert Williams Shank is a private company. It is classified as venture growth investor backed and is currently operating.
When was Siebert Williams Shank founded?
Siebert Williams Shank was founded in 1996. It employs 101 to 250 people.
Where is Siebert Williams Shank based?
Siebert Williams Shank is headquartered in New York, United States, in the North America region.
How does Siebert Williams Shank make money?
Three revenue lines are on record. Investment Banking - Underwriting is the primary driver. The others are sales and Trading and advisory Services.
Who are Siebert Williams Shank's main competitors?
Direct peers on record are Loop Capital Markets, Samuel A. Ramirez & Co. and Cabrera Capital Markets. Emerging players are CastleOak Securities and Blaylock Van. Broad incumbents are Morgan Stanley, JPMorgan and Goldman Sachs. Regional players are Stifel Financial and Robert W. Baird.
Does Siebert Williams Shank have an API?
No public API is recorded for Siebert Williams Shank.
What industry is Siebert Williams Shank in?
Siebert Williams Shank's product category is Investment Banking. Its primary akta.pro industry code is BPAHAOAL, Capital Markets Advisory (IPO Readiness, SPAC, ECM/DCM Advisory), with a secondary code of FSAEAGAJ, Industry-Specialist / Sector-Focused M&A Advisory. Its NAICS code is 523 and its SIC code is 6211.