Stevens Forms Bank M&A Unit With Veterans of Worthen Bank

Drawing on the talents and backgrounds of several former officials of Worthen Bank Corp., Stephens Inc. of Little Rock has formed a new bank merger and acquisition group.

The "financial services group" will specialize in advising Stephens' banking clients, said Curt Bradbury, former chairman and chief executive of Worthen, who joined Stephens as chief operating officer following the bank's sale to Boatmen's Bancshares of St. Louis.

The new unit will provide assistance on valuation, mergers, acquisitions, divestitures, and financings for banks, as well as provide counsel on bank operations.

"One of Stephens' really important and long-standing customer bases is banks," said Mr. Bradbury. "This new group seems to be a natural offshoot of things we are already doing."

The group will consist of three people and will report to the company's existing corporate finance department, which is headed by J.D. Simpson, senior managing director. Mr. Simpson reports to Mr. Bradbury.

Mike Heald and Gary Rickenbach, both of whom worked with Mr. Bradbury at Worthen, will join Stephens veteran, Robert Ulrey in the new unit.

"These two guys we brought in from Worthen have significant operating experience in banking," said Mr. Bradbury. "You don't find that very often in investment bankers."