Sterne Agee, one of the oldest and largest privately owned investment banking firms in the country, will host a forum exclusively for credit unions today.
The Credit Union Summit at the Hilton Glendale and Executive Meeting Center in Los Angeles will include topics on building a 12 CFR 703-compliant investment portfolio, hiring an asset manager versus doing it yourself, analytical tools for credit union clients, and reducing funding costs and preparing for rising rates.
As for the timing of the summit, Jim Richens, managing director, Sterne Agee, Los Angeles, said, "We decided to schedule the summit between the NCUA's final ruling on corporate credit unions which we expected in late September and the California/Nevada Credit Union League Annual Meeting which we knew was in mid-November."
Richens said the Birmingham, Ala.-based Sterne Agee has helped manage an investment CUSO and hired executives from the CU industry. The investment bank also provides bond accounting and balance sheet asset/liability management.
"Sterne Agee possesses a high degree of institutional knowledge about credit unions," Richens said.
Founded in 1901, Sterne Agee has more than 1,150 employees in 48 offices in 23 states.
