Women-owned Stern Brothers & Co. opened an office in New York City, is 15th location, and hired investment banker Donna LoCascio.
"Having a New York presence has been a part of our strategic plan. We felt having a woman on our team in New York was very important," said chairwoman and chief executive Peggy Finn. LoCascio has more than 25 years in municipal finance with a background in renewable energy, senior living, housing and transportation."
Stern Brothers has added Woman Owned Business Enterprise, or WBE, certifications from Wisconsin and Pennsylvania.
The firm ranks fifth among U.S. municipal book runner minority owned firms by number of deals, and is the nation's ninth-largest senior managing municipal bond underwriter among minority- and women-owned firms by par amount of bonds, according to Thompson Reuters.
Stern Brothers is also the 10th largest municipal variable rate demand note remarketing agent in the U.S. It is now the single largest women-owned municipal VRDN remarketing agent in the nation with more than 400 transactions completed and a portfolio of more than $4 billion par amount of securities.
