A financial services and investment banking firm has moved into West Michigan.
Siebert, Cisneros Shank & Co., which is co-based in Oakland, California and New York, opened its first office in West Michigan this month, according to the firm last week.
It is located in a leased space in the Calder Plaza Building in downtown Grand Rapids, at 250 Monroe Ave. NW.
The opening of the West Michigan office will help grow the firm’s public finance practice in Michigan and “further shows its commitment to doing business in the state,” according to a spokesperson for Siebert.
Siebert is an African-American-, Latino- and woman-owned firm.
The firm’s co-founder, CEO, chair and majority owner, Suzanne Shank, lives in southeast Michigan and is based in the firm’s regional office in downtown Detroit.
Shank hired Phong Pham, a 20-year finance and accounting professional, to manage the Grand Rapids office as SVP.
“I am thrilled to welcome Phong to the team and to increase our presence in western Michigan to further complement the strong position we have in the Detroit metro area,” Shank said.
“His talent and breadth of experience will be of great value to local issuers. This new office is a clear demonstration of our commitment to Michigan.”
Pham said he’s “very excited to be joining such a dynamic and successful team.”
“As a native of western Michigan, this is a homecoming for me,” Pham said. “I am eager to hit the ground running and ensure we are continuing to outcompete the rest of the field in this region, throughout the Midwest and nationally.”
The firm did not disclose how many employees will work out of the Grand Rapids office.
Pham has experience managing municipal bond issues for schools, as well as large-scale municipal infrastructure. He served in Michigan state government early in his career.
He will be responsible for growing the firm’s public finance practice in Michigan and other parts of the Midwest, as well as serving on national teams.
A former certified public accountant, Pham was a VP in the public finance group at RBC Capital Markets in Phoenix for 12 years, where he worked with Arizona’s largest school districts, as well as with municipal issuers in Phoenix, Scottsdale and Tucson, Arizona, among others.
He has been involved in more than 250 transactions totaling more than $10 billion, Siebert said.
He holds a bachelor’s degree in accounting from Grand Valley State University.
Siebert Cisneros Shank & Co.
Founded in 1996, Siebert Cisneros Shank & Co. is a financial services and investment banking firm providing strategic advice, capital raising and risk management guidance to municipal and corporate clients.
Siebert participated in more than $53.84 billion in negotiated municipal financings in 2018.
The firm “led over 50 transactions” totaling $5.77 billion last year.
In Michigan, the firm served as managing underwriter for eight issues totaling over $1.7 billion in 2018.
Siebert has transacted more than $2 trillion of municipal bonds and $1.1 trillion of corporate bond and equity transactions since the firm opened.