IMPORTANT: Anderson & Strudwick has ceased operations due the acquisition of its business by Sterne Agee Group in Birmingham, AL.
Clients whose accounts are carried at Pershing LLC, a BNY Mellon Company (Pershing) should contact Pershing directly to gain access to their account. Pershing can be contacted at (201) 761-5499.
Clients whose accounts are carried at Legent Clearing, LLC (Legent) should contact Legent directly to gain access to their account. Legent Client Services can be contacted at (866) 774-0218.
PRESS RELEASE
BIRMINGHAM, Ala., Dec 14, 2011 (BUSINESS WIRE) — Sterne Agee Group, Inc., one of the largest privately-owned financial holding companies in the country and headquartered in Birmingham, Alabama, announced today the completion of its acquisition of the private client group of Anderson & Strudwick, Incorporated, a Richmond, Virginia-based brokerage firm.
This acquisition expands Sterne Agee’s wealth management business in the Eastern and Mid-Atlantic regions, as well as in Knoxville, Tennessee, by adding seven private client group offices that include approximately 50 advisors.
“The only change Anderson & Strudwick’s existing clients will experience is the enhanced financial strength of Sterne Agee’s more than 100 years of service excellence,” said Damon Joyner, former president and CEO at Anderson & Strudwick and now Senior Managing Director with Sterne Agee. “Being part of Sterne Agee is very positive for our clients and a perfect fit for all. Plus, we are having a smooth transition into the firm and are excited about 2012.”
The Anderson & Strudwick acquisition – as well as the acquisition earlier this year of San Francisco-based Nollenberger Capital Partners – highlights Sterne Agee’s continued commitment to the expansion of its business from coast-to-coast. The Sterne Agee family of companies provides fixed income and equity institutional and retail securities brokerage services, research, securities clearing, asset management, investment banking, public finance and trust services.
“We are pleased to expand our business in the Mid-Atlantic states,” said Jim Holbrook, Chairman and CEO of Sterne Agee Group, Inc. “The expansion in these markets will continue to strengthen Sterne Agee’s private client group business.”
About Sterne Agee
Founded in 1901, Sterne Agee is one of the oldest and largest privately-owned investment banking firms in the country employing nearly 1,200 employees in 50 offices in 22 states. Sterne Agee is the trade name used by all affiliates of Sterne Agee Group, Inc., including Sterne, Agee & Leach, Inc., member of NYSE, FINRA, and SIPC. For more information, visit www.sterneagee.com.