Stifel CEO says seeks to expand asset management
NEW YORK May 18 (Reuters) - Stifel Financial Corp (SF.N) intends to expand asset management, stock trading and corporate lending as the middle-market brokerage looks to gain share in a marketplace recovering from 2008, Chief Executive Ronald Kruszewski will tell investors Tuesday.
According to slides for an investor presentation to be delivered in New York Tuesday morning, Kruszewski will highlight the firm's plans to expand "traditional" money-management, fixed-income and equities trading for big institutional clients on both sides of the Atlantic, and to build out a small corporate lending unit.
The recent market "dislocation creates opportunity for market share gains," the firm says in the presentation.
St. Louis-based Stifel, which ranks seventh among brokerages with 1,900 financial advisers, will double its investment banking and institutional trading businesses with the pending takeover of Thomas Weisel Partners Group Inc TWPG.O. (Reporting by Joseph A. Giannone, editing by Gerald E. McCormick)
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