CHICAGO – St. Louis-based Stern Brothers has added its first quantitative banking specialist to its public finance and corporate teams with the hiring of David Schott.
Schott, once a colleague of Stern’s chief operating officer Linda Matkowski in the public finance group previously operated by ABN AMRO, joined Stern as a managing director in its New York office on July 15, the firm said in a statement.
“He is certainly one of the strongest quantitative bankers I have worked with over the course of my career. He will bring important structuring ideas to our clients and provide our bankers with additional support,” Matkowski said in a statement. “He will work closely with the public finance and corporate bankers at Stern to deepen our coverage of various account relationships.”
Schott brings 28 years of quantitative experience to Stern. He spent the last 10 years at Wells Fargo and the previous nine at ABN AMRO/LaSalle Financial Services.
Stern Brothers has made a series of hires over the last year and half expanding in some sectors and specialties and locations, while it shuttered its Kansas City office in what the firm described as a realignment of its business with plans to house most of its institutional and trading staff at is headquarters. The firm also has offices in Atlanta, Cleveland, Denver, Houston, Kansas City, Los Angeles, New York, and New Jersey.
The firm rose in the ranks last year, finishing 49th among senior managers, up from 67th in 2016, according to data from Thomson Reuters. The firm ranked 28th last year among co-managers, up from 37th in 2016 and 57th in 2015. The wholly woman-owned firm said it ranked sixth last year among minority-owned U.S. municipal book-runners.