Stifel Expands SBA Trading Capabilities With Addition of Industry-Leading SBA 7(a) Trading Team
- Stifel Financial Corp. welcomes industry veterans to lead its SBA trading business.
- Expansion of SBA 7(a) program to serve core fixed income investors.
- Stifel joins Goldman Sachs and JP Morgan as lead underwriters for SBA's SBIC debenture program.
- None.
ST. LOUIS, Sept. 29, 2023 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the growth of its Small Business Administration (SBA) trading capabilities by welcoming industry veterans Craig Cline and Christopher Dean, formerly of FHN Financial, to lead its SBA 7(a) and Government Guaranteed Loan trading business. They will co-head the group and be based in the firm’s Houston, Texas, office.
The 7(a) is the SBA’s primary business loan program for providing financial assistance to small businesses, and there is a robust secondary market for lenders that wish to sell the guaranteed portion of the loan to investors.
“We are thrilled to welcome Craig and Chris to the team,” said Eric Needleman, Global Head of Fixed Income Capital Markets at Stifel. “Their arrival demonstrates our continued commitment to invest in resources that provide best-in-class services to meet the evolving needs of our core and expanding client base.”
Messrs. Cline and Dean ran the SBA desk at FHN Financial for the last six years, in which time they established themselves as leading traders in the sector. They managed the firm’s loan, security, and interest-only products, and were instrumental in the development of prepayment models and research.
“These hires allow us to significantly scale our existing SBA 7(a) platform to best serve the SBA and our core fixed income investors in this space,” said Brant McDuffie, Deputy Co-Head of Fixed Income Capital Markets at Stifel. “The expansion of the SBA 7(a) program will also complement our recently announced underwriter roles for the SBA’s SBAP and SBIC debenture programs.”
Earlier this year, Stifel launched its Agency Structured Products Group, with the arrival of a former Credit Suisse team comprised of Russell McKay, Karen Cady, Kavitha Vignarajah, and Serif Ustun. That group is a lead manager of the SBA’s SBAP debenture program, and in September, Stifel joined Goldman Sachs and JP Morgan as lead underwriters for the SBA’s SBIC debenture program.
“Craig and Chris bring an unmatched level of experience and energy to the SBA 7(a) and Government Guaranteed Loan trading space,” added Grant Robicheaux, Head of Rates Trading at Stifel. “We look forward to expanding our distribution of the high-quality assets our clients demand.”
Stifel’s Fixed Income Capital Markets Group offers a suite of products and services geared to help depositary institutions, funds, insurance companies, money managers, state and local governments, and other financial institutions in North America, Europe, and Asia generate revenue, preserve wealth, and ultimately grow their businesses. The group’s broad distribution platform includes more than 270 sales professionals. In 2022, Stifel Fixed Income Research placed No. 5 in Institutional Investor’s U.S. Global Fixed Income Research Team Survey.
Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Stifel Independent Advisors, LLC; in Canada through Stifel Nicolaus Canada Inc.; and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions. Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.
Media Contact:
Neil Shapiro, +1 (212) 271-3447
shapiron@stifel.com
Investor Relations Contact
Joel Jeffrey, +1 (212) 271-3610
investorrelations@stifel.com
