Siebert Williams Shank & Co., LLC, co-founded by Jamaican Chris Williams who serves as its chairman, has been chosen to play a major role in the newly issued Inclusive Communities and Climate Bond from Wells Fargo. This is Well Fargo’s first Sustainability Bond, and it is designed to fund projects and programs in support of affordable housing, socio-economic opportunity, and renewable energy. The move is founded on the expertise of Wells Fargo in and history of underwriting social, “green,” and sustainability bonds. It also advances the firm’s commitment to facilitating a more inclusive and sustainable economy.
Chairman Williams said his firm is honored to have a major role in the inaugural Sustainability Bond, adding, “Wells Fargo’s decision to mandate diverse firms as joint bookrunners with full participation in the investor book building and allocation process is a first among U.S. money center banks and underscores Wells Fargo’s commitment to social inclusion for all dimensions of this financing.”
Siebert Williams Shank & Co., LLC (SWS) is an independent non-bank financial services company that offers services in investment banking, sales and trading, research, advisory, and asset management. With headquarters in New York and Oakland, the firm includes some 120 professionals in 19 offices throughout the United States and serves a wide variety of clients, including governments, municipalities, corporations, and institutional investors.
The company was established in 2019, merging the strengths and experience of its predecessors, Siebert Cisneros Shank & Co., L.L.C., which was founded in 1996, and The Williams Capital Group, L.P., which was founded in 1994. SWS is wholly owned by Shank Williams Cisneros & Co., LLC. Prior to merging into SWS, The Williams Capital Group was ranked among the most active underwriters of equity and investment grade debt offerings. Chairman Williams has been recognized by Fortune magazine, the New York Times, and the Wall Street Journal for his leadership in the financial sector. He has a Bachelor of Architecture degree from Howard University and a MBA from Dartmouth College’s Tuck School of Business.
Joining Wells Fargo Securities, LLC, as joint bookrunners are five broker dealers whose owners include women, service-disabled veterans, and people of color. In addition to Siebert Williams Shank & Co., these firms include Academy Securities, Inc., CastleOak Securities, L.P., Penserra Securities LLC, and Samuel A. Ramirez & Company, Inc. The diverse underwriting firms will receive most of the fees from the $1 billion Sustainability Bond.