Stern Takes On Zion Veterans To Direct New Dallas Office

DALLAS - Stern Brothers & Co., a St. Louis-based broker-dealer, has opened a Dallas office led by two veteran bankers from Zions First National Bank.

Gary Hoffman and Alicea Fletcher will serve as managing directors of the new branch.

"Opening a Dallas office with experienced investment bankers is a strategic accomplishment for Stern Brothers," said Tim Hosler, chief operating officer. "We have a knowledge-based approach to serving municipal borrowers within specific industry segments. We are very pleased to add Alicea and Gary and their unique knowledge base to our growing group of accomplished professionals."

Hoffman was previously managing director for Zions First National, where he managed the public finance services group focusing on the acquisition of tax-exempt securities for direct purchase by the portfolio and for underwriting product distribution by the fixed-income group. He has nearly 35 years of experience in accounting, law, and public finance.

Fletcher, also a Zions managing director before joining Stern, began her career in transportation and rail car financing in 1975, moving to municipal finance in 1978 when she joined a firm that specialized in tax-exempt leasing. At Zions, she originated, underwrote and placed public debt for municipal and nonprofit borrowers. She has also structured and acquired municipal instruments for tax-exempt portfolios.

She has served as a financial adviser to political subdivisions, captive finance companies, private operators and banks in the structuring and placement of public-private partnerships.

Both managing directors are University of Texas graduates. Fletcher majored in government, while Hoffman received an undergraduate accounting degree before earning a UT law degree.

With offices in Kansas City, Chicago, Denver, Los Angeles, Tampa, Fla., and now Dallas, in addition to the St. Louis headquarters, Stern Brothers operates as an independent broker-dealer and has been serving clients since 1917.

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