Stifel Financial has announced that Launny Steffens, a veteran financial services leader credited with helping build Merrill Lynch’s retail business, will join the firm as vice chairman of asset management. In this newly created role, Steffens will focus on growing Stifel’s financial adviser network, advancing the firm’s asset management capabilities and sourcing strategic investment banking opportunities.
Steffens brings decades of extensive experience, including a distinguished 38-year career at Merrill Lynch. There, he held multiple leadership positions including president of Merrill Lynch consumer markets, vice chairman of Merrill Lynch and chairman of the firm’s U.S. private client group. Under his direction, Merrill’s private client group experienced extraordinary growth, with assets under management climbing from $200 billion in 1985 to approximately $1.6 trillion in 2000.
Following his tenure at Merrill Lynch, Steffens and former McKinsey executive Gr
