Stephens Inc. of Little Rock on Tuesday announced that Warren Stephens had retired as president and CEO of the family-owned financial services firm and that his sons Miles and John had been named co-CEOs.
Warren Stephens will retain the title of chairman. He had been CEO of the company since 1986, when he succeeded his father Jack. The transition marks Stephens Inc.’s third era of generational leadership in the 91-year-old family business.
The move comes as Warren Stephens prepares for a role as U.S. ambassador to the United Kingdom. President-elect Donald Trump in December named Stephens to be his envoy to Britain, a prestigious posting for the Republican donor whose contributions included $2 million to a Trump-backing super PAC.
Stephens Inc. also announced that Warren Stephens’ daughter Laura Brookshire had been named senior executive vice president and chair of the executive committee, where she, alongside her brothers and other company executives, will “play an integral role in the stewardship and continued growth of the firms,” the company said in a news release.
As co-CEOs, Miles Stephens and John Stephens will oversee the firm’s investment banking and advisory services, wealth management, family office services, research, sales and trading, asset management, public finance, insurance and private capital across strategic markets in the U.S. and Europe. They will also as serve on the company’s executive committee.
The brothers share more than 20 years of experience working at Stephens Inc. Miles Stephens has led Stephens Insurance as president and CEO since 2019. Earlier, he served as a senior vice president in the company’s investment banking division, where he advised mid- to large-sized businesses with a focus on the auto retail sector. Prior to joining Stephens Inc. in 2014, he held research positions at Hotchkis & Wiley Capital Management and Lehman Brothers.
As managing director within investment banking, John Stephens contributed to the division’s Family Advisory Services Group’s growth and client acquisition. He has served on the company’s management committee for Stephens’ London and Frankfurt offices since 2019. His tenure at Stephens Inc. began in 2011 with Stephens Investment Management Group where he worked as an equity analyst.
In a statement, Miles Stephens said his father has “given my siblings and me a great opportunity to carry forth his vision of a relationship-based, family-owned financial services business.” John Stephens said he and his brother envisioned working together when they were young, long before they knew what Stephens Inc. did. “We have since worked hard to fully appreciate all aspects of the firm and have had the privilege of learning from, and working with, our father,” he said. “Now with our sister, Laura, whose passion for the business is second to none, and an Executive Committee with the unique experience of having worked with three generations of our family, we are positioning Stephens for many decades to come.”
The Associated Press contributed information to this report.
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