November 6, 2018 / 10:21 AM / 10 months ago

Stifel Europe to buy German brokerage Mainfirst Bank

FRANKFURT, Nov 6 (Reuters) - U.S. investment bank Stifel is buying Mainfirst Bank to build scale in its German and Swiss equity research business, the German brokerage said in a statement on Tuesday.

Financial details of the transaction, which is expected to close in the first quarter of 2019, have not been disclosed. Mainfirst Bank has 200 staff, of which 60 are analysts covering European equities.

The deal has no impact on Mainfirst’s asset management unit, which was separated from the brokerage business earlier this year. (Reporting by Arno Schuetze Editing by Michelle Martin)

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