Stifel Nicolaus is the largest subsidiary of Stifel Financial Corp. and is a member of SIPC and listed on the New York Stock Exchange.
Stifel Financial Corp. offers securities-related financial services in the United States and Europe through its wholly owned subsidiaries, Stifel Nicolaus & Company, Incorporated (Stifel Nicolaus), a retail and institutional brokerage and investment banking firm; Century Securities Associates, Inc. (CSA), an independent contractor broker-dealer firm; Stifel Nicolaus Limited (SN Ltd), the Company’s international subsidiary, and Stifel Bank & Trust, a retail and commercial bank. These subsidiaries provide brokerage, trading, investment banking, investment advisory, and related financial services.
The company has five segments: Private Client Group, Equity Capital Markets, Fixed Income Capital Markets, and Stifel Bank, among others. Private Client Group provides securities brokerage services, including the sale of equities, mutual funds, fixed income products, and insurance to its private clients. Equity Capital Markets includes operations such as corporate finance management and participation in underwritings, mergers and acquisitions, institutional sales, trading, research, and market making. The activities of Fixed Income Capital Markets include public finance, institutional sales, and competitive underwriting, and trading. Through Stifel Bank & Trust, the Company offers retail and commercial banking services to private and corporate clients. The company's customers include individuals, corporations, municipalities, and institutions.
On December 1, 2005, Stifel Financial closed on the acquisition of the Legg Mason Capital Markets business (LM Capital Markets) from Citigroup Inc. The LM Capital Markets business acquired by the Company included the Investment Banking, Equity and Fixed Income Research, Equity Sales and Trading, and Taxable Fixed Income Sales and Trading Departments. In February 2007, the Company completed the acquisition of Ryan Beck Holdings, Inc., from BankAtlantic Bancorp, Inc. Through its subsidiaries, Ryan Beck provides financial advice and solutions to individuals, institutions and corporate clients. In April 2007, the company completed the acquisition of First Service Financial Company, and its wholly owned subsidiary, First Service Bank, a St. Louis-headquartered, Missouri chartered bank. As a result of the transaction, the company become a bank holding company and a financial holding company. In June 2008, the company announced the formation of a wholly owned asset management subsidiary, Choice Financial Partners, Inc. The subsidiary will focus on asset management businesses offered to individual and institutional investors through Stifel Nicolaus and directly with third parties.
Stifel Financial was founded in 1890 and is headquartered in St. Louis, Missouri.
As of 2007, Stifel Financial employed 2,834 people in over 175 offices throughout the U.S. and in Europe.
- The CEO is Ronald J. Kruszewski.
- One of the largest middle-market investment banks
- Corporate headquarters in St. Louis
- Capital markets headquarters in Baltimore
- Private Client Group
- 966 investment executives (including independent contractors affiliated with Century Securities Associates)
- 159 offices in 33 states
- Over $59 billion in assets under management
- Leading "off Wall Street" equity research franchise
- 60 senior research analysts covering 700 companies
- Extensive capital raising experience and mergers & acquisitions experience
- Since 2000, Stifel Nicolaus Capital Markets (including Legg Mason transactions) has completed:
- • Over 692 public offerings totaling $165 billion in value
- • Over 297 M&A transactions totaling $22 billion in value
- • Over 284 private placements totaling $12 billion in value
- Institutional Sales & Trading
- 163-person Institutional Equity Sales & Trading team
- 110-person Institutional Fixed Income Sales & Trading group
- 25 offices including 3 European locations
- 1890 Founding of the Stifel, Nicolaus predecessor firm named Altheimer & Rawlings Investment Company in St. Louis.
- 1923 Company renamed Stifel, Nicolaus & Company, Incorporated.
- 1931 The first branch office was established in Chicago, IL.
- 1958 Stifel becomes a member of the New York Stock Exchange.
- 1960 Albert, Theis & Sons acquired.
- 1962 Cruttenden, Podesta & Miller Louisville Office acquired.
- 1970 Dempsey Tegeler Office acquired.
- 1981 Altorfer, Podesta & Woolard acquired.
- 1982 Bacon Whipple acquired.
- 1983 Stifel's holding company, Stifel Financial Corporation, formed and goes public. In July, Stifel becomes a publicly owned corporation as a result of a $1,442,870 share offering.
- 1985 Scherek, Stein & Frane acquired.
- 1987 Stifel Financial Corporation is listed on the New York Stock Exchange (NYSE).
- 1988 Rowland, Simon acquired.
- 1997 Purchase of 15% of Stifel Nicolaus common stock by Western-Southern Life Insurance Company.
- 2000 On January 12, 2000 Stifel merges with Hanifen Imhoff in Denver. Firm continues under the name Stifel, Nicolaus & Company, Incorporated.
- 2005 On December 1, 2005 Stifel Financial Corporation announces accquisition of Legg Mason Capital Markets Business (Investment Banking, Institutional Sales & Trading, Research, and Fixed Income), then owned by Citigroup.
- 2006 Stifel Financial enters into letter of intent to purchase Private Client Group of Minneapolis-based Miller Johnson Steichen Kinnard, Inc. (MJSK) and announces bank acquisition of First Service Financial Co.
- 2007 Stifel Financial announces agreement to purchase Ryan Beck from BankAtlantic Bancorp.
- 2008 Stifel Financial announces formation of asset management subsidiary, Choice Financial Partners, Inc.