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It has been a year after Stifel bought Keefe, Bruyette & Woods in a quest for more scale in the area of bank advisory services. Thomas Michaud, KBW's CEO, reflects on the past year and evaluates trends and forces in bank M&A and capital raising in coming months.
February 21 -
The companies announced last week an agreement to merge Acacia into Stifel Bank and Trust, the investment bank and brokerage's $3.9 billion-asset bank. The terms were not disclosed.
July 1 -
A group that includes the co-founder of Sandler O'Neill & Partners has started a new investment bank aimed at community and regional banks.
October 8 -
When it agreed to be sold to Stifel last year, KBW was painted as a victim of weak bank M&A and the transformation of investment banking. Things are looking up now as the combined company ranked as the top advisor in four of six U.S. regions at midyear.
September 1
Stifel Financial (SF) has agreed to buy a Legg Mason wealth management unit, the two companies announced Wednesday.
Legg Mason Investment Counsel & Trust offers investment advisory and trust services to individuals, families and institutions throughout the U.S., the companies said in a release. It manages more than $9 billion of assets, the release said.
Terms of the deal, which is expected to be completed this fall provided regulators approve it, were not disclosed. The unit would become part of Stifel's global wealth management arm.
"The investment counsel business is a perfect addition to our existing wealth management platform," Stifel Chairman and Chief Executive Ron Kruszewski said in the release. "We think their high-touch and personalized approach for each client's unique financial situation perfectly matches Stifel's model and culture."
Stifel, an investment bank, has been expanding its financial services operations in recent years. In October
Stifel also drew wide attention when it
Among other deals, it