Mervyn Hayden Sterne made Birmingham his home in 1909, and for more than six decades he would be one of its most notable leaders.
In 1916, he formed M.H. Sterne and Company, a firm specializing in stocks and bonds. In 1917, Sterne suspended business and joined the Army, was commissioned a First Lieutenant, and served eleven months in France. After his discharge, he formed the investment banking firm of Ward, Sterne, and Company, which became one of the leading financial institutions in the state. Today, Sterne, Agee, and Leach, Inc., is a prominent investment banking business. Sterne and his partners were pioneers in financing schools and modern road paving programs. In 1922, Sterne married Dorah Heyman. Sterne’s dedicated spirit extended to his religious life as well. He was affiliated with Temple Emanu-El. In 1936, he was the first chairman of Birmingham’s United Jewish Fund. Sterne served in World War II, serving as a major with the Army Services Forces, General Staff Corps. Upon his discharge, he returned to Birmingham where he raised more than $400,000 in just two days for aid for Europe’s Jews. He also organized a fundraising drive for Birmingham Southern College and Howard College, which raised $1,500,000 in just seventeen days. In 1948, he was nominated for Birmingham Man of the Year. In 1968, the Alabama Securities Dealers Association recognized him as one of the south’s leading investment bankers.
