Sterne Agee Public Finance - Financial Freedom

Sterne Agee Public Finance (SAPF) was a division of Sterne Agee Group, Inc., that specialized in providing financial advisory and investment banking services to state and local governments, non-profit organizations, and other public entities. While Sterne Agee Group, Inc. was acquired by Stifel Financial Corp. in 2015, Sterne Agee Public Finance no longer exists as a distinct entity. This overview will discuss the former firm’s key activities and market positioning.

SAPF focused on underwriting municipal bonds, structuring financings, and providing financial advice to its clients. Their services included:

* Underwriting: SAPF assisted public entities in issuing bonds to finance projects like infrastructure improvements, schools, hospitals, and utilities. This involved managing the process of marketing and selling the bonds to investors. * Financial Advisory: They provided independent financial advice to municipalities on various matters, including debt management, capital planning, and project finance. This often involved analyzing the feasibility of projects, structuring financing solutions, and assisting with the negotiation of financial transactions. * Structuring Financings: SAPF specialized in developing innovative financing structures to meet the specific needs of its clients. This included utilizing various types of bonds, such as revenue bonds, general obligation bonds, and tax increment financing, as well as exploring alternative financing mechanisms like public-private partnerships.

SAPF distinguished itself by focusing on personalized service and developing long-term relationships with its clients. They often worked closely with issuers to understand their unique needs and tailor financial solutions accordingly. The firm often highlighted its expertise in specific sectors, such as education, healthcare, and infrastructure, to attract clients seeking specialized knowledge.

The market for municipal finance is competitive, including large national firms and regional players. SAPF, while not one of the largest national players, carved out a niche for itself by focusing on regional relationships and specialized expertise. They frequently participated in smaller to medium-sized transactions, often serving as a co-manager or financial advisor to larger underwriting syndicates.

The acquisition of Sterne Agee Group, Inc. by Stifel Financial Corp. significantly altered the landscape for SAPF. Stifel absorbed Sterne Agee’s public finance operations, integrating them into its own existing public finance division. While the Sterne Agee brand is no longer directly associated with public finance activities, the professionals who previously worked at SAPF often continued their work within Stifel’s public finance team, bringing their experience and client relationships to the larger organization. The legacy of SAPF lives on, in part, through the continued contributions of these professionals within Stifel.