RICHMOND, Va., Nov. 13 /PRNewswire-FirstCall/ -- Scott & Stringfellow
Inc. today said it has expanded into the correspondent clearing business
with Clearview Correspondent Services LLC.
Clearview offers an integrated platform of front- and back-office
clearing services for full-service and independent broker/dealers
throughout the United States, including broker workstation technology,
financial products and services, and clearing operations.
"Our client base is made up of local and regional firms that value a
premium provider of quality service and who seek a committed partner to
support their business," said Bill Robbins, a Scott & Stringfellow senior
vice president who was named president and chief executive officer of
Robbins has 14 years of industry experience, previously serving as
senior vice president at First Clearing LLC, a subsidiary of Wachovia
Scott & Stringfellow Inc. is a registered broker/dealer and wholly
owned subsidiary of BB&T Corporation (NYSE: BBT).
"With the backing of BB&T along with Scott & Stringfellow's strong
regional culture, it is a natural progression to expand into the
correspondent clearing business," said Scott & Stringfellow President and
Chief Executive Officer Walter Robertson.
"Bill Robbins' reputation in the local and regional broker/dealer
community combined with the high-quality service for which Scott &
Stringfellow has been known for over a century will be a powerful
combination in the industry."
"Correspondent clearing is fundamentally a business of providing a
consistently high level of service to entrepreneurial business owners,"
said BB&T Financial Services Manager Lee Youngblood.
"BB&T has a unique strength in this area as one of the U.S. Small
Business Administration's top-ranked small business-friendly companies year
after year. We are excited to bring the resources of BB&T and Scott &
Stringfellow together to launch Clearview Correspondent Services LLC."
Clearview Correspondent Services LLC is a member of the NYSE and SIPC
and is a separate, nonbank affiliate of BB&T Corporation.
With $130.8 billion in assets and more than 1,500 financial centers in
11 states and Washington, D.C., Winston-Salem, N.C.-based BB&T Corporation
is the nation's 14th largest financial holding company. More information
about the company is available at http://www.BBT.com.
SOURCE BB&T Corporation