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.

The new services arm for the Stifel Financial subsidiary is expected to include the industry know-how of 15 professionals, which are joining from New York-based FSI Capital, the release said.

“I am excited to join Stifel’s full-service capital markets platform,” Kuppenheimer said in the statement. “I believe this move offers a tremendous opportunity for this team to complement Stifel’s exceptional franchise.”

Victor Nesi, Stifel’s director of investment banking and co-director of capital markets, said in the statement that under Kuppenheimer’s leadership, SCA “will enhance the value of the services [it] offer(s) to [its] clients.

“We are pleased to increase our advisory and capital markets capabilities through the addition of this experienced team,” Nesi added in the release.

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