B.C. Ziegler

B.C. Ziegler and Company

Company type	Private (since 2014)
Industry	Financial services, Investment banking, Asset management
Founded	January 1, 1902 (1902-01-01) in Wisconsin, United States
Founder	Bernhard C. "Ben" Ziegler
Headquarters	Chicago , United States
Area served	United States
Key people	Dan Hermann (CEO)
Products	Investment banking, Asset management, Institutional lending

B.C. Ziegler and Company, operating under the name Ziegler,, is a U.S.-based financial services organization headquartered in Chicago, Illinois. The firm concentrates on investment banking and asset management, primarily serving the senior living, healthcare, and education industries.

History

Established in 1902 by the young entrepreneur Bernhard C. "Ben" Ziegler at age 18, the firm initially operated as an insurance agency in Wisconsin. By 1907, its operations had grown to cover southeastern Wisconsin. During the financial turmoil of 1907, Ziegler transitioned from managing banking deposits to providing loans to local farmers, marking its initial foray into investment services.

Ziegler’s institutional lending began in 1913 with the issuance of a $30,000 bond to Holy Angels Church. The company formally incorporated as B.C. Ziegler and Company in 1920 and became a prominent farm finance provider within Wisconsin. By 1928, it had broadened its institutional loan portfolio beyond state borders, serving more than 5,000 clients.

Anticipating the economic downturn of the Great Depression, Ben Ziegler eliminated all company debt by 1929, ensuring strong liquidity. This financial stability allowed the firm to extend credit to churches and educational institutions during the challenging economic period. Following Ben Ziegler’s passing in 1946, the company expanded its national presence in lending to colleges and churches and adapted post-World War II to support housing financing for returning veterans.

In the 1960s, Ziegler diversified its offerings by entering collateral trust bonds and hospital financing markets. It established subsidiaries such as First Church Financing Corporation of America (1964) and Ziegler Financing Corporation (1969) to specialize in real estate loans. The firm began distributing mutual funds in 1967 and introduced proprietary funds by 1970.

The creation of holding company Ziegler Company, Inc. occurred in 1971, with its stock traded over-the-counter. In 1973, the acquisition of Chicago-based Barcus, Kindred & Company enhanced its capabilities in underwriting municipal and nonprofit revenue bonds; this entity was renamed Ziegler Securities in 1976.

Ziegler went public on the American Stock Exchange in 1991 and developed subsidiaries focused on asset management and collateralized securities. Transitioning from a bond-centric firm to a comprehensive brokerage by the mid-1990s, it expanded into equity offerings and acquired Milwaukee’s Glaisner, Schiffarth, Grande & Schnoll in 1997. During the late 1990s, it divested certain operations to concentrate on core investment banking and management services.

The company relocated its headquarters to Milwaukee in 2001 to be closer to financial markets but later returned to Chicago. In 2003, Ziegler voluntarily withdrew from AMEX due to low trading volumes and increased regulatory expenses following the Sarbanes–Oxley Act. The introduction of mergers and acquisitions advisory services occurred in 2006.

After privatization in 2014, Ziegler collaborated with Link-age Ventures to establish a $26.6 million healthcare fund focused on longevity-related companies targeting aging populations. In 2018, it sold its wealth management division to Stifel to sharpen focus on institutional client services.

As of August 2024, Ziegler facilitated financing for charter schools in North Carolina but became involved in litigation initiated by major investors alleging fraud connected with underwriting $280 million of municipal bonds tied to a bankrupt sports park project.

Throughout its existence, strategic leadership under executives such as CEO Dan Hermann has emphasized specialization in sectors like healthcare and education as part of its business strategy to drive sustainable growth and maintain competitive positioning.