Head Underwriter
Stern Brothers & Co.
Alice Livingston has over 20 years of professional experience as an underwriter and financial advisor across multiple sectors of the municipal market. She has worked with State issuers nationwide including State of Texas, New York, Illinois and California along with numerous local issuers such as the City of San Antonio, Fort Bend County, City of Corpus Christi, City of Inglewood CA, City of Houston and City of New Haven CT.
Ms. Livingston has extensive experience working at small firms and utilizing her skill set to continue expanding departments and underwriting portfolios. Before joining Stern Brothers, Ms. Livingston was an Executive Director and Head of Public Finance at Blaylock Van, LLC and ran the underwriting desk. She previously worked as Vice President at Backstrom McCarley Berry & Co., LLC as an underwriter and also as an Municipal Advisor for many California issuers. Ms. Livingston also previously served on a team of Wealth Management Advisors for high-net-worth clients at Stifel Nicolaus.
She graduated from California State University Long Beach and holds her FINRA Series 7, 63, 24 and 53.
The concentration of the retail investor has grown in a market that often struggles with liquidity. How are the various demand components of the market shifting? How will the growth of SMAs and ETFs, as well as the dearth of crossover buyers, affect the public finance industry in 2026? Are there new opportunities for hedging munis with the growth of ETFs? What do investors want and how is the sell-side adapting to provide for it?