Stifel Appoints Launny Steffens Vice Chairman Acquires $1B Assets

Stifel Financial Corp has made significant leadership appointments to bolster its growth in asset management, advisory, and investment banking. Launny Steffens, a prominent financial services veteran who built Merrill Lynch's retail business, was appointed as Vice Chairman of Asset Management, bringing over $1 billion in assets under management from Spring Mountain Capital, which he co-founded. Steffens will focus on expanding Stifel's financial advisor network, asset management capabilities, and strategic investment banking opportunities. Additionally, Nell Kelleher was named Director of Operations & Administration at Stifel's subsidiary, 1919 Investment Counsel, to enhance operational efficiency and client service. These strategic hires reflect Stifel's commitment to growth, operational excellence, and expanding its presence in responsible investment strategies. While integration of new assets and personnel may present challenges, the appointments are broadly seen as positive steps toward strengthening Stifel's competitive position in the financial services sector.