David Paterson, the former governor of New York, is becoming a financial adviser.
Paterson is joining a wealth-management team at Stifel Financial Corp. that also includes one-time football star Wayne Chrebet, according to a statement Monday from the St. Louis-based investment bank. Ed Moldaver, a managing director who joined Stifel last year from Barclays Plc, leads the group.
“Ed believes the past and future success of his group depends on surrounding himself with vigilant, honest and determined people -- especially those who have reached the top of their respective fields,” Paterson said in the statement.
Stifel, one of the largest U.S. securities firms based outside of New York, is known for buying regional rivals and Wall Street castoffs. Wealth management accounted for 59 percent of its $2.3 billion in net revenue last year, and it employed 2,891 financial advisers.
Paterson, 62, governed New York from 2008 to 2010, taking office after Eliot Spitzer resigned amid scandal. The son of a Harlem power broker, Paterson was the first black governor of the state. He has served on corporate boards since leaving office.