Guggenheim Securities International, the international investment banking and capital markets division of Guggenheim Partners, has commenced operations, providing sales and trading services for European clients.

"Guggenheim is pleased to extend its broadened securities platform to deliver thoughtful solutions and ideas to European institutional clients," says Alan Schwartz, CEO of Guggenheim Securities and Executive Chairman at Guggenheim Partners. "The talent that we have attracted in our London office both enhances our fixed-income and equities distribution capabilities and provides a strong foundation for growth in Europe."

Duncan Riefler is serving as President of Guggenheim Securities International Ltd. and Head 
of London Fixed Income. Riefler joined Guggenheim following the recent acquisition of 
Lazard Capital Markets International Limited (LCMI), where he headed up the London office. Before joining LCMI, Riefler was a co-founder and partner of Sonas Partners in London, an independent brokerage focused on trading fixed-income securities. Prior to that, he had a 19-year career at Merrill Lynch with a number of roles within the fixed-income business in New York and London.

"The current liquidity issues impacting the European capital markets, in particular corporate credit, make this an exciting time to introduce the Guggenheim platform to Europe," Riefler says. "We believe Guggenheim's track record of delivering innovative solutions should differentiate our offering in the market."