Wedbush Hires New York-Area Manager from Stifel
Wedbush Securities has snagged a Stifel Nicolaus branch manager to oversee its brokerage operations in the New York metropolitan area.
Story reports to Chris Mone, who Wedbush hired in March to oversee its approximately 400 brokers.
Story had worked at Stifel and predecessor firm Ryan Beck & Co. for 15 years. He began his brokerage career in 1988 with McLaughlin, Piven and Vogel Securities, Inc , according to his BrokerCheck history, and also has done stints at Wachovia Securities, PaineWebber, Prudential Securities and Fidelity Brokerage Services.
Story is the second East Coast veteran branch manager to join Wedbush. Mone, who had been president of Wilmington Trust’s U.S. markets advisory unit, last month recruited Robert Limmer, a former UBS complex manager in Long Island to oversee Wedbush’s independent contractor channel from New York.
Limmer, a 32-year brokerage industry veteran, left UBS in late 2017 and had most recently worked in New Jersey with LPL-affiliated brokerage firm Gladstone Wealth Group.
A person familiar with Story’s role at Stifel said the firm does not expect to replace him.
Wedbush founder Ed Wedbush resigned last year as chief executive following a long run of regulatory settlements he and the firm had reached following allegations of net capital, sales and supervisory violations. In June, the firm agreed to pay $8.1 million to settle Securities and Exchange Commission findings that it mishandled pre-released American Depositary Receipts.
Wedbush earlier this month said it hired Andrew Druch in the newly created role of general counsel. Druch, who reports to the firm’s co-presidents Gary Wedbush and Rich Jablonski, began his legal career at the New York Stock Exchange. He first registered as a representative in 1991 with Dreel Burnham Lambert and worked from 1995 through earlier this year with U.S. affiliates of several Dutch banks, according to his BrokerCheck history.