ST. LOUIS and LITTLE ROCK, April 10, 2015 – Stifel Financial Corp. (NYSE: SF), Sterne Agee Group, Inc., and Stephens Inc. today announced that they have reached an agreement whereby five Managing Directors in the Depository Investment Banking Group of Sterne Agee will join Stephens. This announcement follows the news that Stifel has entered into an agreement to acquire Sterne Agee’s Wealth Management and Fixed Income Groups, and the sale of Sterne Agee’s Institutional Equities business, including Equity Sales, Trading, and Research to CRT Capital Group.
“Today’s announcement is a continuation of our commitment to find the professionals in Sterne Agee’s Investment Banking group a home so they can continue their careers. We’ve again accomplished our goal of bringing individuals and companies together as a result of our announced acquisition of certain businesses of Sterne Agee,” stated Ronald J. Kruszewski, Chairman and CEO of Stifel.
Eric Needleman, Chairman and CEO of Sterne Agee Group, commented, “We are pleased that Stephens recognizes the value these five senior professionals bring to an organization.”
Joining Stephens’ Financial Institutions Group are industry veterans: Brian D. Branson, Managing Director – Atlanta; James F. Hemmer, Managing Director – Chicago; Jeffrey D. Jones, Managing Director – Chicago; Kade N. Machen, Managing Director – Dallas; and Scott W. Studwell, Managing Director, Capital Markets – New York.
Warren Stephens, Chairman, President and CEO of Stephens, noted that Stephens has actively advised financial institutions since the 1980s, and has an outstanding track record. “These appointments are a strategic fit, exemplary of the professional expertise and talent that we have prudently built our investment banking offering around. We welcome them to Stephens and look forward to their contributions to growth and client success. Our agreement with Stifel is designed to promote client continuity and eliminate business disruption. I want to thank Ron Kruszewski, Eric Needleman and their teams for working with us to help find a good fit for all concerned,” said Mr. Stephens.
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