DALLAS -- A Wall Street firm will underwrite a cash management program for Oklahoma schools in the first serious challenge to the dominance Stifel, Nicolaus & Co. has over the lucrative and controversial business.

Dean Witter Reynolds Inc. and St. Louis-based Stifel have been courting schools in the four weeks since the first meeting of an Oklahoma commission overseeing cash management programs.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.