Sterne Agee hires Cannon as managing director and head underwriter

By Toni Weeks

San Diego, May 4 - Sterne Agee said in a press release that it has hired Theodore "Ted" Cannon as managing director and head underwriter in its municipal securities group.

The addition of Cannon to the firm's New York City office is part of an ongoing expansion to the group.

Cannon joins the firm most recently from Webster Bank in Connecticut, having previously been at Citigroup. His career as an underwriter began at L.F. Rothschild, Unterberg, Tobin, and he also held positions at Shearson Loeb Rhodes and Herbert J. Sims. He has underwritten hundreds of deals for clients in all 50 states and is credited with underwriting the first global book entry deal sold in the United States: a $100 million financing for the Port Authority of New York and New Jersey.

"Ted brings a wealth of experience to Sterne Agee gained throughout his 30-year career as an underwriter," executive managing director Hanson Slaughter said in the release.

"He has priced deals from coast to coast, and he has an extraordinary knowledge of municipal issuers and credit structures across all sectors of the industry."

The privately owned investment banking firm's public finance group is based in Birmingham, Ala.

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