Stifel Financial Corp. of St. Louis added three bank analysts with its acquisition of BankAtlantic Bancorp Inc.'s Ryan Beck & Co. Inc. last week, and another former Ryan Beck professional said she plans to join the company soon.
Anthony R. Davis, Bret Ginesky, and Megan Malanga initiated coverage for about 40 companies Thursday under the Stifel name. The trio had halted their coverage for Ryan Beck on Wednesday in preparation for the sale.
In transferring coverage, the analysts made no rating changes.
A fourth Ryan Beck analyst, Collyn Gilbert, said in an interview Thursday that she expects to join Stifel in "the next couple of days," and that a "glitch" prevented her from joining the company last week with her former colleagues.
James M. Zemlyak, Stifel's chief financial officer, did not return calls for comment.
One name missing from Stifel's analyst additions was Jacqueline Reeves, the former head of research for Ryan Beck, who said in an interview Thursday that she is looking on "both the buy side and sell side" for employment.
Ms. Reeves covered a wide range of companies, including State Street Corp. of Boston, First Horizon National Corp. of Memphis, Commerce Bancorp Inc. of Cherry Hill, N.J., and Bank of Hawaii Corp. of Honolulu.
Another former Ryan Beck analyst, Kevin K. Reevey, left in mid-January, because of coverage overlap. Mr. Reevey had covered the Midwest.
Adam Barkstrom, the Stifel analyst who covered banking companies on the East Coast, left in mid-February, and his coverage was picked up by Stifel's David Bishop, SNL Financial LC reported on its Web site.
Mr. Reevey and Mr. Barkstrom could not be reached for comment.
Stifel announced the deal Jan. 9 and said it would pay up to $96 million in cash and stock for Ryan Beck, of Florham, N.J. The final price was contingent on future performance of Ryan Beck's private client and investment banking businesses.
The deal closed late Wednesday, and BankAtlantic, of Fort Lauderdale, Fla., said it received a payment of $125 million in cash and stock. It gained a 17% stake in Stifel.
