Profile: Stifel Financial Corp (SF)
3 Dec 2013
Stifel Financial Corp., incorporated on December 31, 1981, is a financial holding company. The Company’s subsidiary is Stifel, Nicolaus & Company, Incorporated (Stifel Nicolaus), a full-service retail and institutional brokerage and investment banking firm. The Company operates in the three segments: Global Wealth Management, Institutional Group, and Other. Its principal activities include private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading and research, and municipal finance; investment banking services, including mergers and acquisitions, public offerings, and private placements, and retail and commercial banking, including personal and commercial lending programs. The Company is a bank holding company. In February 2013, KBW Inc merged with Stifel Financial Corp. In November 2013, Stifel Financial Corp. announced that Stifel Bank & Trust completed its acquisition of Acacia Federal Savings Bank.
Global Wealth Management
The Company’s global wealth management segment consists of two businesses, the Private Client Group and Stifel Bank. The Company provides provide securities transaction, brokerage, and investment services to its clients through the consolidated Stifel Nicolaus branch system and through CSA. The Private Client Group had a network of 1,890 financial advisors located in 307 branch offices in 45 states and the District of Columbia. In addition, it has 151 independent contractors. The Company’s financial advisors provide a range of investments and services, including financial planning services to its clients. The Company offers equity securities; taxable and tax-exempt fixed income securities, including municipal, corporate, and government agency securities; preferred stock; and unit investment trusts. The Company also offers a range of externally managed fee-based products. In addition, the Company offers insurance and annuity products and investment company shares through agreements with numerous third-party distributors.
The Company offers securities-based lending through Stifel Bank, which allows clients to borrow money against the value of qualifying securities for any suitable purpose other than purchasing, trading, or carrying marketable securities or refinancing margin debt. Through Stifel Bank, it offers retail and commercial banking services to private and corporate clients, including personal loan programs, such as fixed and variable mortgage loans, home equity lines of credit, personal loans, loans secured by certificate of deposits (CDs) or savings, and securities-based loans, as well as commercial lending programs, such as small business loans, commercial real estate loans, lines of credit, credit cards, term loans, and inventory and receivables financing, in addition to other banking products.
The Company’s investment banking activities include the provision of financial advisory services principally with respect to mergers and acquisitions and the execution of public offerings and private placements of debt and equity securities. The investment banking group, consisting of 289 professionals and support associates, focuses on middle-market companies, as well as on larger companies in targeted industries, which include real estate, financial services, healthcare, aerospace/defense and government services, telecommunications, transportation, energy, business services, consumer services, industrial, technology, and education.
The Company’s public finance group, consisting of 108 professionals and support staff, acts as an underwriter and dealer in bonds issued by states, cities, and other political subdivisions and acts as manager or participant in offerings managed by other firms. The Company’s syndicate department coordinates marketing, distribution, pricing, and stabilization of its managed equity and debt offerings. In addition, the department coordinates its underwriting participations and selling group opportunities managed by other investment banking firms.
The Other segment includes interest income from stock borrow activities. The Company also includes unallocated interest expense, interest income and gains and losses from investments held, compensation expense associated with the deferred compensation plan modification, and all unallocated overhead cost associated with the execution of orders; processing of securities transactions; custody of client securities; receipt, identification, and delivery of funds and securities; compliance with regulatory and legal requirements; internal financial accounting and controls; and general administration and acquisition charges.
Stifel Financial Corp
One Financial Plaza, 501 N. Broa
ST. LOUIS MO 63102-2188