A pair of senior banking analysts has left Sterne Agee to join Piper Jaffray.

Mathew Kelley and Matthew Breese will oversee Piper Jaffray's equity research for depository institutions in the Northeast.

Kelley said in an email that the duo will also follow mutual conversions and cover issues such as prepaid cards, credit sponsorship in marketplace lending, health savings accounts and tax preparation products.

Stifel Financial, which recently agreed to buy Sterne Agee, has been working to divvy up portions of the Birmingham, Ala., firm, including its institutional equity business.

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