CHICAGO – Siebert Cisneros Shank & Co. LLC has hired Ramon Ortega to bolster its Midwestern banking presence and lead its Chicago office, the firm confirmed Monday.

Ortega was hired as a managing director and head of the Chicago office. The move from Samuel A. Ramirez & Co. Inc., where he was a senior vice president, elevates him to a leadership position.

He joins Karen Walker, a managing director, in the Chicago office, and replaces her as head of the office.

The firm said Ortega brings a “deep well of technical skills and quantitative experience” and a “data-focused approach” from his 15-year career that will aid its pursuit of work with Midwestern issuers like Chicago and Illinois that face credit challenges.

“His demonstrated ability to solve complex technical challenges and share best practices with clients across the region and the country will add enormous value to SCSCO,” Gary Hall, the firm’s head of investment banking, said in a statement.

Gary Hall is Senior Managing Director, National Head of Investment Banking, and an equity owner at Siebert Cisneros Shank & Co., L.L.C.
“His demonstrated ability to solve complex technical challenges and share best practices with clients across the region and the country will add enormous value to SCSCO,” said Gary Hall, the firm’s head of investment banking. Municipal Securities Rulemaking Board

Ortega joined Ramirez in 2011 as a vice president and was elevated to senior vp in 2016. He previously held banking positions at BMO Capital Markets, UBS Investment Bank, and RBC Capital Markets. He also served on the Community Development Advisory Committee for the Chicago Office of Budget and Management.

Ortega will work with Walker and Hall to serve regional clients. Hall is based out West but is a Chicago native with ties to local issuers.

The firm did not comment directly on why Ortega is replacing Walker as head of the office.

“Given the credit challenges that many of our clients are facing, we believe Ramon's demonstrated ability with idea creation, structuring innovation, and overall experience will allow us to compete at the highest level in the Chicago and Midwest markets,” firm spokesman Jason Fink said.

Siebert – which has dual headquarters in New York City and Oakland, Calif. – operates 17 offices nationwide.

The top-ranked minority and women-owned broker-dealer ranked 14th last year nationally among senior managers and 15th in the Midwest, according to data from Thomson Reuters.

Walker joined Siebert in 2013 from the Chicago Transit Authority where she was treasurer and chief financial officer, then an advisor on public private partnerships. She previously held positions at the Illinois Finance Authority and at the former A.G. Edwards & Sons Inc. and Banc of America Securities LLC.

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