Scott & Stringfellow starts correspondent clearing business

    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
 Clearview.
     Robbins has 14 years of industry experience, previously serving as
 senior vice president at First Clearing LLC, a subsidiary of Wachovia
 Corporation.
     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

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