Stifel moves into insurance with new hires

Stifel Nicolaus & Co. Inc. has hired two executives from KeyBanc to fill newly created positions in the Financial Institutions Group. Scott Brewer has joined the investment-banking department as a managing director. He will serve as a senior relationship banker covering the insurance industry in St. Louis, Mo.-based Stifel’s Cleveland office. Previously, Mr. Brewer headed the insurance group in the corporate and investment-banking division of KeyBanc Capital Markets Inc. in Cleveland. Bryce Myers, also departing from KeyBanc's insurance group, will join Mr. Brewer as senior analyst in the Financial Institutions Group. "We view an expansion into the insurance sector as a logical next step as we continue to invest in our financial services investment-banking business," Rick Maples, co-head of investment banking and head of the Financial Institutions Group, said in a statement.