James N. Augustine, Jr. has joined Stifel Nicolaus as COO of its Institutional Group's Fixed Income Division. Augustine, who has been with Morgan Keegan and Bear Stearns, was previously head of the Fixed Income Department at Raymond James. He was named to that post last April.

“With the Raymond James acquisition of Morgan Keegan, I was removed from my position as the head of fixed income and was not retained by Raymond James,” Augustine tells On Wall Street. As I spoke with potential employers, Stifel Nicolaus stood out because of the firm's reputation, capital and breadth of resources. Stifel Nicolaus has a substantial fixed income franchise, poised for growth.”

Ronald J. Kruszewski, chairman, president and CEO of Stifel Financial, based in St. Louis, said that Augustine will play a key role in expanding his firm’s fixed-income capabilities. “Jamie's depth of expertise in the institutional fixed income business is exceptional,” he stated. “We expect this to be an area of focus and growth."

Augustine will be located in Stifel’s fixed income office in Memphis, and will report to Bill Heinzerling, head of Fixed Income. "Jamie’s industry experience and extensive relationships, particularly with financial institutions, enables us to strengthen our platform,” said Heinzerling. “Adding Jamie takes our fixed-income practice to the next level." In addition to expanding Stifel's fixed income presence in Memphis, Augustine will be responsible for broadening and deepening Stifel's fixed income relationships with depositories and in the middle market.

"Stifel has built a competitive capital markets, investment banking, research, and private client platform that has grown significantly over the years,” said Augustine. “I look forward to contributing to continued growth."

Donald Jay Korn writes for On Wall Street.