NEW YORK – Two former Square 1 execs have jumped into the world of venture banking.
Brad Ellis and Nathanial Stone, both veterans of Durham-based Square 1, are being tapped to lead Stifel Financial Corp’s new venture banking group.
Based out of St. Louis, Missouri, the firm said the pair would lead a group of industry veterans targeting early-stage startups, leveraging the firm’s $17 billion depository and the Stifel platform.
Ellis will serve as the unit’s managing director, and Stone as its director.
“Competitors can’t match the breadth and sophistication of the Stifel offering to venture clients,” Ellis said in a release.
“Having the ability to tap into the broader Stifel network of capabilities and institutional services, like investment banking and fund placement, is critical and a true differentiator.”
Local hires
Stifel also tapped some local talent from Square 1.
Alan Faulkner, formerly a senior vice president at Square 1, will be the Triangle-based director responsible for the coverage of the Southeastern United States.
Mike Breaux, previously senior vice president at Square 1’s Equity Funds Group in Durham, will lead Stifel’s Fund Banking effort from the Triangle.
It’s the second time this year that a big bank has enticed former Square 1 bankers to jump ship.
Former CED exec among few 24 Square 1 vets identified to be leaving for new venture group
Back in April, 24 veterans at the venture capital-focused firm — now under the new name, Pacific Western Asset Management — left to form a new venture banking group at Signature Bank.
It’s still unclear what this means for Los Angeles-based Pacific West Bancorp, which acquired Square 1 in 2015.
24 Square 1 bank veterans jump to form new VC group at Signature Bank
