Guggenheim Partners, LLC is a global investment and advisory financial services firm that engages in investment banking, capital markets services, investment management, investment advisory, and insurance services. The firm is headquartered in New York City and Chicago with 2,500 staff located in 20 cities throughout the United States, Europe, and Asia. It has more than $240 billion of assets under management. The firms CEO is Mark Walter. It has eight Managing Partners who are key executives, and with a Senior Leadership Team of 17 other executives, oversee the Firms businesses. It was founded by Peter Lawson-Johnston II, Solomon R. Guggenheims great-grandson. Guggenheim Partners provides services across insurance services, investment banking, capital markets, investment management, merchant banking, and asset management. Guggenheim Investment Advisors oversees about $50 billion in assets. In June 2009, Guggenheim hired former Bear Stearns CEO Alan Schwartz as Executive Chairman to "focus on transforming Guggenheims existing broker-dealer, which is focused on sales and trading of fixed income securities, into a full-service investment banking enterprise".