The family-owned financial services firm Stephens has announced its third generation of family leadership, with brothers Miles and John Stephens being named co-CEOs of the Little Rock, Arkansas-based company.
The brothers succeed their father, Warren Stephens, who has retired from his roles as president and CEO but will remain chairman. Warren’s daughter, Laura Brookshire, has also been named senior executive vice president and chair of the executive committee at Stephens.
Warren Stephens — who has a net worth of $3.4 billion, according to Forbes — was recently nominated by President-elect Donald Trump to serve as the U.S. ambassador to the United Kingdom. Warren served 39 years as CEO of Stephens — founded in 1933 by his father, the oilman Jackson T. Stephens, and uncle Witt Stephens.
“I’d like to congratulate our father, Warren Stephens. He has done a remarkable job of leading Stephens for almost four decades," Miles Stephens said in a statement. "He has given my siblings and me a great opportunity to carry forth his vision of a relationship-based, family-owned financial services business. I look forward to continuing the tradition of our family’s management of Stephens.”
Miles previously led the Stephens Insurance unit since 2019 as president and CEO, while John was managing director within the investment banking group at Stephens. Laura has worked in marketing and communications since she joined Stephens in 2015.
Wealth management offerings from Stephens span family office services, investment banking and advisory services, asset management, public finance, insurance and private capital. Subsidiaries that operate under the Stephens brand include Stephens Investment Management Group, Stephens Insurance, Stephens Capital Partners and Stephens Europe Ltd.
“Miles and I envisioned working together in our youth, long before we knew what Stephens did,” John said. “Now with our sister, Laura, whose passion for the business is second to none, and an Executive Committee with the unique experience of having worked with three generations of our family, we are positioning Stephens for many decades to come.”