An out-of-town investment banking firm has set up shop in downtown Richmond.
New York- and Chicago-based Guggenheim Securities in early November opened a two-man office in the SunTrust Center on East Main Street.
Guggenheim Securities is the investment banking and capital markets division of Guggenheim Partners, a privately held financial firm with more than $180 billion in assets under management, investing in markets such as silver, gold, and foreign commodities, according to the company.
The company hired Richmond-based media industry analyst Michael Morris in September and added the 1,400-square-foot office for him and his associate Curry Baker. Morris now covers the media sector as a managing director in Guggenheim’s equity research team, the company said.
Morris, who worked for Richmond-based Davenport & Company from 2010 until moving to Guggenheim, said he loves Richmond and wanted to be able to stay in the city. He said he hopes that the Richmond office hires additional employees in the future.
Morris received his bachelor’s degree from the College of William and Mary and an MBA from the Stern School of Business at New York University.
Guggenheim Partners has more than 25 offices in eight countries.