Stifel Builds Out Full-Service Leveraged Finance Platform
Stifel Financial Corp.
Sep. 05, 2018
ST. LOUIS, Sept. 05, 2018 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the build-out of a full-service leveraged finance platform as part of the firm’s continued expansion of its investment bank. Stifel has appointed Christopher Auld as a Managing Director and Head of Leveraged Finance. Joining Mr. Auld in this effort is Henry Lang, who has also been named Managing Director. In addition, Stifel Fixed Income has augmented its leveraged finance capabilities with the appointment of Roger Gilbert as Head of Loan Sales and Peter Lapina as Head of Loan Trading.
Messrs. Auld and Lang will focus on further developing Stifel’s capabilities in the origination, underwriting, and syndication of leveraged loans and high-yield securities. Stifel leverages expertise across all the firm’s verticals, including technology, healthcare, industrials, consumer and retail, energy, and, through its Keefe, Bruyette & Woods (KBW) subsidiary, financial services. Unlike many other firms of similar size, Stifel is able to commit its own capital to underwrite debt facilities for its investment banking clients, and controls the entire underwriting process.
Stifel Leveraged Finance also underwrites revolving credit facilities, first lien and second lien term loans, and high-yield securities for sponsored and non-sponsored transactions in North America. The team’s primary focus is to underwrite deals greater than $150 million for firms with EBITDA of $40 million or higher. This new capability complements the firm’s existing private debt business, which will continue to be led by Scott Hague as well as its sponsor club lending effort led by Juli Van Hook.
With the addition of Messrs. Gilbert and Lapina, Stifel continues to expand its Fixed Income platform, which currently consists of more than 250 professionals across sales, trading, and research in the United States and Europe.
“Adding this important capability represents a significant step forward for our business and increases the number of products we can offer our clients,” said Brad Raymond, Global Head of Investment Banking. “Building on the momentum of our existing debt and equity capital markets businesses, our leveraged finance professionals will work closely with our sponsor coverage and industry banking teams to originate and execute best efforts and committed transactions.”
“Expanding our leveraged finance capabilities is a natural extension of Stifel’s high-yield and loan sales, trading, and research capabilities that were added with the acquisition of Knight Trading’s credit business in 2013 and Sterne Agee in 2015,” added Eric Needleman, Global Head of Fixed Income. “We already have world-class distribution capabilities, and we are now in an even better position to serve investment banking clients with the establishment of a full-service leveraged finance platform. While other firms are downsizing, we continue to make strategic investments and add high-caliber professionals to the team.”
Christopher Auld joins Stifel as Managing Director and Head of Leveraged Finance. Mr. Auld comes from Jefferies, where he spent more than 13 years, most recently as co-head of European Leveraged Finance. Mr. Auld relocated to London in 2010 to establish the European Leveraged Finance business for Jefferies. In all, Mr. Auld brings to Stifel more than two decades of leveraged finance and banking experience.
Henry Lang joins Stifel as Managing Director from Jefferies after nine years in the leveraged finance business. He most recently served as Managing Director and group leader for Jefferies in charge of leveraged loan and high-yield transactions in the industrials and energy sectors. Mr. Lang brings to Stifel nearly 25 years of leveraged finance, banking, and investment experience.
Roger Gilbert joins Stifel as Managing Director and Head of Loan Sales. Most recently, Mr. Gilbert held the same position at Guggenheim Securities. Previously, he spent two decades at Morgan Stanley, ultimately heading up loan sales. Earlier in his career, Mr. Gilbert worked in the loan syndications group at Barclays. He is a former Board Member of the Loan Syndications and Trading Association.
Peter Lapina joins Stifel as Managing Director and Head of Loan Trading. Mr. Lapina comes to Stifel from Guggenheim Securities, where he was head of loan trading since 2016. Mr. Lapina also spent eight years at J.P. Morgan focused on loan and distressed trading. His past experience includes roles at Citigroup and Credit Lyonnais.
“We are thrilled to join a world-class organization like Stifel,” commented Mr. Auld. “The firm has clear capabilities that distinguish it from other middle-market competitors operating in this space, including a strong balance sheet, the ability to commit its own capital, superior distribution capabilities, and unmatched industry expertise.”
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; Keefe Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Century Securities Associates, 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.
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