SAN FRANCISCO - Regional investment bank Seattle-Northwest Securities Corp. announced a reshuffle of its public finance leadership on Tuesday.
The Seattle-based firm promoted Richard A. Schober Jr. to managing director of its public finance department.
He replaces Michael A. Lewis, who remains with the firm and plans to focus on the housing and energy sectors.
"While I loved serving as public finance director, I am also looking forward to getting back to my roots as a banker with SNW and working on some of our most exciting projects in the areas of energy and housing," Lewis said in a statement. "I am confident that Dick is the right person to navigate the current market turmoil, and solidify our future position."
Schober joined the firm in 2007 from the Seattle office of Goldman, Sachs & Co. He has also worked for Piper Jaffray & Co.
"Our ability to be agile in a rapidly changing economic climate is a testament to our strong leadership team, and these leadership changes underscore that," Maud Daudon, president and chief executive officer of Seattle-Northwest, said in a statement. "Dick is a well-respected figure in public finance throughout the Northwest and we are thrilled to have him lead our team."
Schober will continue to provide banking and advisory services to the Seattle-Northwest's larger clients, the firm said.
Seattle-Northwest was the 32d ranked underwriter nationally by volume in 2007, according to Thomson Reuters, credited with $1.75 billion. It was the top ranked underwriter and second-ranked financial adviser in Oregon last year, and the top-ranked financial adviser in Washington.