Hugo J. Warns III, CFA

Senior Vice President, Director, Equity Research, Stifel, Nicolaus & Company, Incorporated

Hugo J. Warns III, CFA

Hugo J. (“Hugh”) Warns III is Senior Vice President, Global Head of Research, and a member of the Board of Directors of Stifel, Nicolaus & Company, Incorporated, positions he has held since 2005. Mr. Warns was also Director of Research for Legg Mason Capital Markets Group from 2004 to 2005, prior to Stifel’s acquisition of Legg Mason Capital Markets.

As Global Head of Research, Mr. Warns has guided the unparalleled growth of Stifel’s equity research department, increasing stocks under coverage from 419 to 1,773 and research analysts from 34 to 128 since 2004. During this period of unprecedented growth, Stifel has also been recognized as a leader in equity research, as measured by quantitative independently conducted surveys by The Wall Street Journal and StarMine. Overall, Stifel ranked in the top ten for twelve consecutive years in the Thomson Reuters StarMine Analyst Awards, was the #1 ranked equity research firm by The Wall Street Journal in 2010, and was cited by the Financial Times as the “best house for stock picking” in 2011.

Prior to becoming Director of Research, Mr. Warns was a Managing Director covering the U.S. property and casualty insurance industry at JPMorgan, a Principal at Legg Mason, and an Associate Analyst at Alex Brown & Sons. Prior to his Wall Street career, Mr. Warns was a Manager of Insurance Operations at USF&G and began his career as a Financial Analyst in strategic planning with Blue Cross & Blue Shield of Maryland.

During his career as a sell-side analyst, Mr. Warns was recognized by The Wall Street Journal as an All-Star Analyst and by StarMine as the top-ranked analyst for earnings accuracy in his sector. Mr. Warns has a B.S. in Finance from Susquehanna University, an M.B.A. in Finance from Loyola University Maryland, and is a CFA Charterholder and member of the CFA Institute. He serves as Chairman of both the Maryland Zoo in Baltimore and the United Way of Central Maryland’s Tocqueville Society. He is also a member of the GBC Leadership Class of 2012, a board member of First Tee of Baltimore, and a member of the investment committees for both Susquehanna University and Associated Catholic Charities.