Sterne Agee establishes high-yield group, hires Needleman, Lupo and Eng

By Devika Patel

Knoxville, Tenn., Jan. 20 - Sterne Agee announced it has hired Eric Needleman, Jay Lupo, Kevin Eng and their 12 associates to create the firm's new high-yield group.

The group will be located in Sterne Agee's New York office and headed by Needleman, with Lupo as co-head of sales and Eng as head of high-yield research.

Needleman, Lupo and Eng previously worked at KBC Financial Products, where Needleman had been head of high yield since 2003.

The group has built a reputation as a preeminent high-yield secondary trading desk. They have earned numerous accolades, including high rankings in the 2007 Orion Survey and have been named to the Institutional Investor Fixed-Income Research Team 26 times in the automotive, building, consumer/food, gaming and paper and packaging sectors.

Sterne Agee is a privately owned brokerage firm with headquarters in Birmingham, Ala.

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