LONDON and BIRMINGHAM, Ala., Dec. 2, 2013 /PRNewswire/ — Sterne Agee, one of the oldest and largest privately held financial services firms in the United States, today announced the closing of its purchase of London-based brokerage firm Yorvik Partners LLP, which has been renamed Sterne Agee UK LLP. The acquisition establishes Sterne Agee’s first overseas presence at 11 Ironmonger Lane, London, from which Sterne Agee plans to expand its services internationally.

“We envision an immediate impact in Europe and are excited that the door to international growth has been opened,” said Eric Needleman, Head of Fixed Income for Sterne Agee in New York. “This is undoubtedly an exciting step toward not only expanding but also enhancing our full-service offerings.”

Yorvik Partners founder and CEO, Simon Mullaly, will be Sterne Agee’s Head of International Credit (EMEA and Asia). Prior to founding Yorvik, Mr. Mullaly managed trading desks for Deutsche Bank, AG and Lehman Brothers in London. “I look forward to working with Sterne Agee and building a team of experts in London and abroad that will provide financial services internationally,” said Mr. Mullaly.

James S. Holbrook, Jr., Chairman and CEO of Sterne Agee, said, “The purchase of Yorvik Partners is an important step in our ongoing strategy to expand Sterne Agee’s markets and creates a platform from which Sterne Agee can expand internationally. We are also very pleased to have Simon and his team join Sterne Agee as they will play an integral role in our international expansion.”

About Sterne Agee

Founded in 1901, Birmingham, Alabama-based Sterne Agee is one of the oldest and largest privately-owned financial services firms in the United States. The firm offers comprehensive financial services to a diverse client base, including corporations, municipalities and high-net worth individuals. Through its family of wholly owned subsidiaries, Sterne Agee custodies over $22 billion in client assets, and has more than 1,600 employees in 57 offices across 20 states. The Sterne Agee family of companies has prospered for more than 100 years by always putting client interests first and consistently delivering excellent financial services. Sterne Agee is the trade name used by Sterne Agee Group, Inc. and affiliates, including Sterne, Agee & Leach, Inc., members NYSE/FINRA/SIPC. Visit www.sterneagee.com.

SOURCE Sterne Agee