Sterne Agee has announced it is expanding its financial technology investment bank franchise.
The organisation is one of the largest privately-owned brokerage firms in the US and it hopes the appointment of Alex Alden to the position of managing director of its investment banking division will boost its offering.
Mr Alden comes with a wealth of experience of executing mergers and acquisitions for financial technology firms and working for market-related industries.
He has previously been employed by UBS Investment Bank, JMP Securities and Putnam Lovell Securities and dealt with an array of financial technology clients in these various roles.
Speaking about his appointment, Mr Allen said: "I am extremely pleased to join one of the fastest growing and most successful full-service investment banks in the country."
He added the "constant addition of new products" is evidence of the positive direction the company is taking as it seeks to separate itself from the competition.
By Claire Archer