Stifel picked up two recruits from Merrill Lynch who have experience in designing and implementing corporate equity compensation plans, a spokesman confirmed.
Joseph Long, senior vice president of investments, and Brian Schneiweiss, registered investment associate, joined Stifel's New York office last week.
Michael Sullivan, Stifel's Eastern Region Director, said the team's experience in the equity plan space would be an asset to the firm. "Joe and Brian will help our existing financial advisers as well as our investment bankers with their public and private institutions," he said in a statement.
Long was responsible for more than $500 million in assets, according to Stifel.
He worked with Merrill Lynch’s Private Executive Services Team, Stifel says. Long had been with the wirehouse since 2002, according to FINRA BrokerCheck records.
Schneiweiss has also been with Merrill for the past 14 years, according to Stifel.
Schneiweiss cited Stifel's investment bank as well as the firm's research and capital markets capabilities as motivation to switch firms, adding that "we are uniquely positioned to serve our corporate clients."
A Merrill spokeswoman declined to comment on their departure.
Stifel has recently recruited several large teams including a mega team from Oppenheimer & Co. That group, known as PearlStreet Investment Management, managed more than $600 million in fee-based client assets, according to Stifel. PearlStreet, based in Ada, Mich., was also was responsible for more than $5 billion in retirement plan assets, of which $3.3 billion was custodied at the firm.
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