Veteran bank analyst Terry McEvoy has left Oppenheimer to join Sterne Agee.

McEvoy will head the bank research group at Sterne Agee. He will also cover super regional banks and Midwestern companies, Bob Hoehn, director of research for Sterne Agee, said in an interview.

"We've not had a head of the bank group before and I think Terry's leadership will result in a much more comprehensive and cohesive product," Hoehn said. Including McEvoy, Sterne Agee's banking team has five analysts.

Oppenheimer announced on Friday that it was dropping coverage of more than a dozen companies McEvoy had covered, including FirstMerit (FMER), Huntington Bancshares (HBAN), MB Financial (MBFI) and Prosperity Bancshares (PB).

McEvoy had been with Oppenheimer for nearly 13 years.

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