Stifel Financial Corp. is a diversified financial services holding company that conducts its business through several wholly owned subsidiaries. Its primary broker-dealer subsidiary, Stifel, Nicolaus & Company, Incorporated, is a full-service brokerage and investment banking firm established in 1890.
Stifel Financial Corp. was formed as a holding company in July 1983 and is publicly traded on the New York Stock Exchange under the symbol "SF."
"We are excited about today's announcement and our continued growth in our Global Wealth Management business. Barclays' Wealth franchise in the U.S. is a high-touch, high-service business for sophisticated clients. Combining the depth of Barclays' franchise and breadth of Stifel's product offerings, coupled with an entrepreneurial and client-focused culture, will create the premier wealth management platform in the industry today. Importantly, we know that you do not acquire people, but we are excited about partnering with the professionals at Barclays."
"We are pleased with our first quarter results, which represent our third best revenue quarter. That said, while investment banking was a good quarter, results can and will be lumpy. Furthermore, we have incurred additional operating expenses relating to the build-out of our infrastructure. Looking forward, we are optimistic about the continued growth in our business. In today's environment, we see ample opportunities to continue to build the premier investment banking and wealth management firm."
"When we announced our merger with Sterne Agee last month, an important goal of ours was to preserve Sterne Agee's Equities Business as an intact group. We, together with Sterne Agee's management, were committed to finding the right partner, and are very pleased that we have accomplished this goal of keeping approximately 170 professionals together so they can continue their careers as a team. At Stifel, our focus is on the individuals who collectively comprise an organization. We believe this philosophy will enable us to continue to build the preeminent wealth management and investment banking firm."
"We have identified a great firm in Sterne Agee to bolster our Global Wealth Management group with the addition of more than 700 financial advisors and independent representatives increasing advisor professionals by 35%. Sterne Agee's fixed income platform is highly complementary to our existing products and services, and together will catapult this business to a new level, continuing the momentum we established with the addition of Knight's fixed income sales and trading business. This acquisition furthers our goal of creating a balanced, well-diversified business mix with wealth management and institutional exposure."