Amid energetic recruitment of wirehouse brokers, Stifel named a former head of Wells Fargo Advisors and a technology executive to its board of directors.
The wirehouse's former CEO Danny Ludeman joined the board effective Tuesday, Stifel said. He had worked at the wirehouse from 1999 until
Also joining Stifel’s board is Adam Berlew, executive director of Americas Marketing for Google Cloud. Berlew has past executive experience at Brocade Communications and Dell, according to Stifel.
“We are excited to welcome Danny and Adam to our Board as each has built a highly successful career in industries that are vital to Stifel’s long-term success: wealth management and technology,” Ronald Kruszewski, chairman and CEO of Stifel, said in a statement.
Brent McIntosh is Citi's chief legal officer and corporate secretary. Brent leads Citi's Global Legal Affairs & Compliance organization, which includes the Legal Department, Independent Compliance Risk Management, Citi Security and Investigative Services and Citi's Regulatory Strategy and Policy function. He is a member of Citi's Executive Management Team.
Brent served as under secretary of the Treasury for international affairs from 2019 to 2021. From 2017 to 2019, Brent served as Treasury's general counsel. Prior to that, he was a partner in the law firm of Sullivan & Cromwell.
Brent served in the White House from 2006 until 2009, first as associate counsel to the president and then as deputy assistant to the president and deputy staff secretary. Before that, he was a deputy assistant attorney general at the Justice Department.
Susana Ortega Valle is the VP of Product, where she leads the strategic vision for how small business owners engage with insurance. Throughout her two-decade career, she has built a reputation for developing high-performance teams that thrive on innovation and challenge conventional thinking.
Prior to joining Simply Business, Susana held digital product leadership roles at State Street and Santander Bank. Her approach to data-informed, AI-forward product strategy is backed by a robust academic foundation, including two MS degrees in Telecommunications Engineering and an MBA from MIT.
Advisors know that a transition plan is important, but many fall into the trap of procrastination.
Stifel’s stepped up recruiting efforts have boosted its headcount, assets and revenue.
That hiring streak has continued into the third quarter. Last week, the company revealed three new recruits who collectively managed $243 million in client assets.
Kevin Bay was an independent advisor at his own firm, Kevin Bay Investments, where he had $128 million in AUM before joining Stifel. He now operates from the regional broker-dealer’s branch in Brookfield, Wisconsin.
Steven Schwary, a former Wells Fargo advisor and 26-year industry veteran, joined Stifel in Brevard, North Carolina. He previously managed $40 million in client assets at the wirehouse, according to his new employer.
Nick Bearden, the third recruit, came from Edward Jones where he managed $75 million in client assets, according to Stifel. He has 12 years of experience, according to FINRA BrokerCheck records.
A spokeswoman and spokesman for Wells Fargo and Edward Jones, respectively, declined to comment.
Stifel reported net revenues of $800 million, up 3.9% from $742 million.
