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.
Mike Manalac is a CPA with experience at small, Top 20 and Big Four accounting firms and industry-leading Fortune 500 companies. He is currently an accounting manager at Google, as well as the author and illustrator of the No Flux Given playbook. He also pioneered the introduction of the virtual whiteboard to the accounting world. Reach him at
Indraneel Chakraborty is a professor in the finance department at Miami Herbert Business School. He has worked for Citadel Investments and Citigroup Global Markets fixed-income divisions.
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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.
