WS Investor
03 Sep 2025, 19:55
Launny Steffens, a veteran of Merrill Lynch and co-founder of Spring Mountain Capital, will join Stifel as Vice Chairman of Asset Management. In this new role, he will work on expanding Stifel’s financial advisor network, strengthening its asset management business, and sourcing strategic investment banking opportunities.
Steffens spent 38 years at Merrill Lynch, where he led the Private Client Group through major growth, increasing assets under management from $200 billion in 1985 to about $1.6 trillion by 2000. After Merrill, he co-founded Spring Mountain Capital with Greg Ho, focusing on alternative asset investing.
As part of the move, Stifel will acquire over $1 billion in assets under management from Spring Mountain, with key investment professionals staying on. The deal is expected to close later in 2025.
Steffens spent 38 years at Merrill Lynch, where he led the Private Client Group through major growth, increasing assets under management from $200 billion in 1985 to about $1.6 trillion by 2000. After Merrill, he co-founded Spring Mountain Capital with Greg Ho, focusing on alternative asset investing.
As part of the move, Stifel will acquire over $1 billion in assets under management from Spring Mountain, with key investment professionals staying on. The deal is expected to close later in 2025.
