Birmingham, AL-based Sterne Agee, the US privately-owned financial services firm which also provides trust and private client services, has a new executive management team.

Birmingham, AL-based Sterne Agee, the US privately-owned financial services firm which also provides trust and private client services, has a new executive management team.

Eric Needleman will become chairman of Sterne Agee Group and chief executive of Sterne Agee & Leach, while Linda Daniel, an employee for 33 years and board member, has been named vice chairwoman.

Henry Lynn, one of the firm's longest-serving employees, board member and former chairman will continue as chairman emeritus. The holding company board also appointed Sal Nunziata as CEO and president of Sterne Agee Group. The firm said he replaces John Holbrook. 

Bios

Needleman joined Sterne Agee in January 2009 as head of the fixed income credit division and then in 2012 became head of fixed income. He has over 18 years’ experience in the credit markets.

Prior to joining, he was co-head of US market making and head of high yield sales, trading and research at KBC Financial Products. He started his career at Lehman Brothers and subsequently worked at Granchester Securities (the high yield division of Wasserstein Perella). In addition to his current role at Sterne Agee, Needleman also covers institutional accounts for high yield sales.

Nunziata is currently CEO and president of Sterne Agee and chairman and co-CEO of FBC Mortgage, a Sterne Agee Group company. Prior to co-founding FBC Mortgage, Nunziata was senior vice president and district manager at First Horizon Home Loans. Earlier, he was 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.

Through its wholly-owned subsidiaries, Sterne Agee custodies over $23 billion in client assets and employs some 1,600 financial professionals in 70 offices across 20 states.