Stifel, Nicolaus & Co. has further developed its “full-service capital markets platform” with the creation of an asset management and portfolio advisory division, the St. Louis, Mo.-based institutional brokerage and investment-banking firm said yesterday.

Stifel Capital Advisors (SCA), which will be based in New York, will offer government entities and financial institutions’ management and advisory services as well as “creative structured solutions for illiquid assets.” Stephan Kuppenheimer, the former CEO of FSI Capital and previous co-head of Merrill Lynch’s U.S. structured credit products group, will head the new Stifel start-up, a March 3 press release said.

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