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Stephens hires depository research analysts from Piper Jaffray

Stephens Inc. hired bank analysts from Piper Jaffray Cos. and made a promotion in its financial institutions group within institutional equity research and sales.

The investment bank hired Matt Kelley as a managing director and financial sector sales specialist from Piper Jaffray. In the equity research team, the company named Matthew Breese a managing director, covering Northeast regional banks; and Broderick Preston an analyst to cover Mid-Atlantic regional banks.

Sources previously told S&P Global Market Intelligence that the trio was set to join Stephens.

Stephens also promoted Gordon McGuire to a research analyst role, expanding the company's bank coverage across the western portion of the U.S.