Under Rice’s stewardship, Rice Financial (No. 4 in tax-exempt securities with $568 million in lead issues on the BE Investment Banks list), has underwritten municipal bond transactions exceeding $245 billion and has executed derivative transactions totaling nearly $30 billion. In 2010, the firm served as a managing underwriter on more than $52 billion in municipal bond issues—a 578% increase in just four years.
Rogers’ mantra of slow and steady winning the race has helped him establish Ariel Investments L.L.C. (No. 6 on the BE Asset Managers list with $5.5 billion in assets under management) as a financial services superpower. The former stockbroker for William Blair & Co. L.L.C., who has been named one of BE’s “40 Most Powerful African Americans in Business,” now serves on the boards of global corporate giants such as Exelon Corp. and McDonald’s Corp.
Shank is responsible for the overall administration of the firm’s scope of services and for attaining the firm’s profitability goals, earning SBS the rank of No. 2 in taxable securities with $8.1 billion in lead issues and No. 1 in tax-exempt securities with $6.8 billion in lead issues on the BE Investment Banks list. In 2010, SBS served as joint bookrunner for the State of California issuance of $3.27 billion of taxable and $1.25 billion of tax-exempt bonds.
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