- Associated Press - Tuesday, May 27, 2014

BIRMINGHAM, Ala. (AP) - The Birmingham-based Sterne Agee Group has new leadership.

The privately owned financial services company announced that former Chairman and CEO Jim Holbrook Jr. has been replaced as chairman by Eric Needleman. He has been executive managing director of the company’s New York office. He is also serving as CEO of Sterne Agee & Leach, the company’s brokerage division.

Sal A. “Joe” Nunziata was named CEO and president of the Sterne Agee Group. He co-founded FBC Mortgage, a Sterne Agee Group company based in Orlando, Florida.

Linda Daniel, a 33-year employee of the company and a board member, was named vice chairman. Henry Lynn Jr. is continuing as chairman emeritus of the 113-year-old company.

The company’s announcement did not give a reason for Holbrook’s exit.

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