Sterne Agee has announced a new executive management team.
Eric Needleman will assume the role of chairman of Sterne Agee Group, Inc. and CEO of Sterne Agee & Leach, Inc. Linda Daniel, a 33-year employee and board member, has been named vice chairwoman. Henry Lynn, Jr., one of the longest serving employees, board member and former chairman will continue as chairman emeritus. The holding company board also appointed Sal A. "Joe" Nunziata as chief executive officer and president of Sterne Agee Group, Inc.
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"As one of the oldest private investment banking companies, we are excited about the new direction that the board has taken the company," said Eric Needleman. "With investment banking, mortgage, trust and private client groups all under the same umbrella, we feel that Sterne Agee is well positioned to continue to grow and thrive. These new changes are an exciting chapter in the firm’s 113-year history. Both the sales and operations teams at Sterne Agee are some of the most experienced and talented professionals in the financial services industry, and with them Sterne Agee will continue on a path to become one of the largest private investment banking, mortgage and wealth management firms in the country."
Eric Needleman: Chairman, Sterne Agee Group, Inc. and CEO of Sterne Agee & Leach, Inc.
Mr. Needleman joined Sterne Agee in January 2009 as the head of Fixed Income Credit Division. In August 2012, he undertook the role of head of fixed income. He has over 18 years’ experience in the credit markets. Prior to joining the firm, he was co-head of U.S. market making and head of high yield sales, trading and research at KBC Financial Products. He started his career with Lehman Brothers and had subsequently worked at Granchester Securities (high yield division of Wasserstein Perella), where he served as a managing director in both sales, trading and research capacities. In addition to his current role, Mr. Needleman also covers institutional accounts for high yield sales. Mr. Needleman graduated with a B.A. in government and English from Lehigh University.
Sal A. "Joe" Nunziata, CEO and President of Sterne Agee Group, Inc.
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By GlobalDataJoe is currently the CEO and president of Sterne Agee, Inc. and the chairman and co-CEO of FBC Mortgage, LLC, a Sterne Agee Group Company. Prior to co-founding FBC Mortgage, LLC, Mr. Nunziata was the SVP/ district manager for First Horizon Home Loans, a New York Stock Exchange listed company, from October 2003 until November 2005. Before his service at First Horizon, Mr. Nunziata was a shareholder and vice president at American Heritage Mortgage Corp. from June 1989 until October 2003. American Heritage was acquired by First Horizon Home Loans in October 2003. Mr. Nunziata served on the boards of Southern Community Bank, Southern Community Bancorp, and Fifth Third Bank of Central Florida.
Currently he serves on the boards of Florida Bank of Commerce, FBC Bancorp, FBC Mortgage, LLC, Sterne Agee Group, Inc., Clear Title, Columbine Management Group, Nunziata Holdings, Insurance Affiliates Inc., the Florida Hospital Foundation, and the Leukemia / Lymphoma Society. Mr. Nunziata holds an accredited residential originator designation and is a CMB candidate through the Mortgage Bankers Association of America (MBA). Mr. Nunziata has served on the MBA’s Legislative Committee and also served on the board of adjustment for the city of Longwood, Florida. He received his bachelor’s degree in marketing and finance from the University of South Florida, where he graduated with honors. In 2010, Mr. Nunziata received the Orlando Business Journal’s "Central Florida Executive of the Year" and in 2011 its "Top Ten Business Men to Watch."
