Who We Are

What We Do

We provide investment banking, research, sales and trading, asset and wealth management, public finance, insurance, private capital, and family office services.

About Us

We are a family-owned financial services firm that values client relationships, long-term stability, and supporting the communities where we live and work.

The Stephens Story

The idea of family defines our culture, because each of us knows that our reputation is on the line as if our own name was on the door.

Leadership

Our reputation as a leading independent financial services firm is built on the stability of our longstanding and highly experienced senior executives.

Impact Initiatives

We are committed to corporate philanthropy; economic and financial literacy advocacy; and diversity, equity, and inclusion initiatives.

Our Brand Ambassadors

Stephens is proud to sponsor the PGA TOUR, LPGA Tour, and PGA TOUR Champions careers, as well as applaud the philanthropic endeavors, of our Brand Ambassadors.

Making Connections

We host many highly informative meetings each year with clients, industry decision makers, and thought leaders across the U.S. and in Europe.

Our Businesses

Capital Management

We provide fiduciary investment strategies to public-and private-sector institutional clients through asset allocation, consulting, and retirement services.

Fixed Income Sales & Trading

Decades of proven performance and experience in providing tailored fixed income trading and underwriting services to major municipal and corporate issuers.

Institutional Equities and Research

Proven industry-leading research, global market insights, and client-focused execution.

Insurance

Customized risk management, property & casualty, executive strategies and employee benefits solutions that protect our clients over the long term.

Investment Banking

We assist companies with accessing capital through innovative advisory and execution services that help firms achieve their strategic goals.

Private Capital

We have been a trusted and reliable source of capital for private companies for over 70 years.

Private Wealth Management

Our experienced Private Client Group professionals develop customized investment strategies to help clients achieve their financial goals.

Public Finance

We are a trusted municipal advisor with proven expertise in public financings. We also work with clients in negotiated and competitive municipal underwritings.

Market Trends

Debt Capital Markets Group | 2022 in Review

Jan 5, 2023

The Stephens Debt Capital Markets team concluded another productive year, helping clients navigate a challenging credit market in 2022

Throughout 2022, Stephens continued to drive results for clients, running competitive financing processes to source effective financing solutions, despite heightened credit market volatility driven by persistent inflation and aggressive tightening of monetary policy

  • Leveraged loan and high yield bond issuance in the U.S. declined 46% and 78% year-over-year, respectively and issuances in Europe decreased 57% and 82% year-over-year, respectively
  • Significant inflation persisted in the U.S. throughout 2022 with CPI peaking at 9.1% in June, while inflation peaked in October in both the UK and Euro area at 11.1% and 10.6%, respectively
  • The Federal Reserve Board adopted contractionary monetary policies, increasing the benchmark federal funds rate by 425 bps between March and December similar to the Bank of England’s policy, raising rates from 50 bps in March to 350 bps as of December

As a trusted, unbiased debt advisor, Stephens leverages strong lender relationships and diverse credit product expertise to structure financing solutions designed to meet the unique needs of our clients

In 2022, the Stephens Debt Capital Markets team raised $3.0 billion in debt capital over 19 transactions, including 11 1 repeat clients

Stephens DCM Team Maintains Proprietary Relationships with a Diverse Set of Capital Providers

  • Stephens is an advisor – not a lender – which provides our team with an independent and unbiased perspective as we advise clients on potential financing solutions
  • We partner with a Stephens Investment Banking industry team on every transaction, providing a comprehensive offering of capital markets and sector expertise to meet the diverse needs of our clients


The Stephens DCM practice has assisted clients in raising over $46 billion across 227 transactions since 2010 and over $14 billion across 78 transactions since 2020. Stephens is deeply committed to helping public, family-owned, and sponsor-backed clients raise capital to execute on key initiatives.

About the Experts

A. Davidson Hall

Managing Director, Co-Head of Debt Capital Markets, Investment Banking

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Nick Bellmann

Managing Director, Co-Head of Debt Capital Markets, Investment Banking

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Shaun Holmes

Managing Director & Head of UK, Investment Banking

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Scott Thomas

Senior Vice President, Investment Banking

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  1. Note: High Yield bonds are debt securities with credit ratings below BB- from S&P and below Baa3 from Moody’s. (1) 11 DCM transactions from existing Stephens Investment Banking clients. Data referenced in the material is derived from FRED Economic Data, Direct Lending Deals, S&P Global, and Leverage Commentary & Data (LCD) or other third party data sources or data providers (collectively “Data Providers”). Please note that Data Providers do not guarantee the accuracy, adequacy, completeness or availability of any content provided and are not responsible for any errors or omissions, regardless of the cause or for the results obtained from the use of such content. Such information is believed to be accurate on the date of issuance of this document. In no event shall the Data Providers or Stephens be liable for any damages, costs, expenses, legal fees or losses in connection with any use of the data included in the material.
  2. “Stephens” (the company brand name) is a leading family-owned independent financial services firm. Stephens’ US operations are headquartered in Little Rock, AR, with strategic locations in the US and a European presence in the UK and Germany. Stephens Inc. is a Member of the New York Stock Exchange and the Securities Investor Protection Corporation and is regulated by the United States Securities and Exchange Commission and the Financial Industry Regulatory Authority. Stephens Europe Limited (Registered office: 12 Arthur Street, London, EC4R 9AB, Registered number 8817024) is authorised and regulated by the Financial Conduct Authority. For more information, visit www.stephens.com. © 2023 Stephens This material has been prepared solely for informative purposes as of its date of preparation. It is not a solicitation, recommendation or offer to buy or sell any security and does not provide information on which an investment decision to purchase or sell any securities could be based. It does not purport to be a complete description of the securities, markets or developments referred to in the material. Information included in the material was obtained from sources that we consider reliable, but we have not independently verified such information and do not guarantee that it is accurate or complete. No subsequent publication or distribution of this material shall mean or imply that any such information remains current at any time after the date of preparation of the material. We do not undertake to advise you of any changes in any such information. Additional