Scott & Stringfellow starts correspondent clearing business

Nov 13, 2007, 00:00 ET from BB&T Corporation

    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

SOURCE BB&T Corporation