Warren Stephens

Warren Amerine Stephens (born February 18, 1957) is an American businessman. He is the Chairman, President and Chief Executive Officer of Stephens Inc., a full service, privately held investment bank.^[2] He lives in Little Rock, Arkansas.

Early life and education

Stephens was born in Little Rock, Arkansas, the son of Mary Amerine Stephens and Jackson T. Stephens, an investor and financier. Jack Stephens was partners with his brother, Witt Stephens, in the investment firm, Stephens Inc.^[3] Stephens began his education in Little Rock, and in 1975 graduated from Trinity Presbyterian High School in Montgomery, Alabama. He graduated from Washington and Lee University in 1979 with a B.A. in Economics, and he received his MBA from Wake Forest University in 1981.^[4]

Career

Stephens joined his father and uncle in the investment banking business in Little Rock, which had 139 employees. At that time, the firm resembled and operated much like one of the old British merchant banks, investing the firm’s and family funds in various businesses and ventures, and it still operates the same way today. Stephens Inc is noted for handling the IPO of Wal-Mart Stores in 1970.^[3]

Stephens began work as an associate in the corporate finance department, concentrating on oil and gas. He became head of the department in 1983 and spent a lot of time on mergers and acquisitions. On February 18, 1986, Stephens was appointed president and CEO of Stephens Inc.^[3]

In 1990, he was the senior advisor to Tyson Foods in their acquisition of Holly Farms in a nine-month takeover battle.^[3] He is only the third Chairman, President and CEO in the firm’s more than 80 years of operations since 1933.

In 2006, Stephens acquired 100 percent of the outstanding shares of Stephens Inc from the other family members.^[3]

Stephen serves on the Board of Directors of Dillard’s.^[5]

Leadership style

Stephens believes that the turmoil in the financial markets beginning in 2008 created an opportunity for a firm like Stephens Inc.^[6] “Dad and Uncle Witt told me one of their corporate goals was to be in business the next day. We are under no illusion that anyone would ride to our rescue so you cannot ever take a risk that could jeopardize the ability of the firm to survive,” Warren once told employees.^[6]

Stephens has written that the effect of Dodd-Frank and its favored treatment of the “too big to fail” is a basic threat to the US economy.^[7]

Philanthropy

Stephens serves on the Board of Trustees of his alma mater, Washington and Lee University.^[4] Stephens and his wife Harriet are benefactors of various organizations, most notably the Episcopal Collegiate School and the Arkansas Arts Center, both in Little Rock.^[8][9]

References