Richmond executive named president of investment bank Sterne, Agee & Leach

Richmond financial services executive Walter S. Robertson III has been named president and COO of Birmingham, Ala.-based Sterne, Agee & Leach Inc.

The company is one of the oldest and largest privately-owned investment banking and brokerage firms in the country.

Robertson’s role will involve a heavy focus on strategic growth and development of Sterne, Agee & Leach, the largest subsidiary of Sterne Agee Group Inc.

Sterne Agee manages more than $21 billion in client assets and has more than 1,500 employees in 59 offices in 22 states, including Virginia.

Robertson retired from Scott & Stringfellow/BB&T Capital Markets in Richmond in 2012.

While with Scott & Stringfellow/BB&T Capital Markets, Robertson served in several capacities including COO, president of private client group and president and CEO.

Additionally, Robertson was a member of the board of directors for both Scott & Stringfellow, LLC and BB&T Insurance Services, Inc. and was a member of the BB&T senior leadership team for 12 years.

Sterne, Agee acquired the private client group of Richmond-based brokerage Anderson & Strudwick Inc. in 2011, a move that added seven offices in the mid-Atlantic states and Tennessee.