Stifel Nicolaus

Stifel Nicolaus

Type	subsidiary, Stifel Financial Corporation, Public (NYSE: SF)
Industry	Investment services
Founded	1890
Headquarters	St. Louis, Missouri, U.S.
Products	Financial Services Investment Banking Investment Managing
Website	www.stifel.com

Stifel Nicolaus and Company, Inc., incorporated in 1923, is the largest subsidiary of Stifel Financial Corporation and is a member of Securities Investor Protection Corporation (SIPC). The parent company has several subsidiaries.

Stifel Financial Corporation was formed as a holding company in 1983 and listed on the New York Stock Exchange, (NYSE: SF), when it was offered publicly. Its predecessor company was founded in 1890 as the Altheimer and Rawlings Investment Company and is headquartered in St. Louis, Missouri. It offers securities-related financial services in the United States and Europe through its wholly owned subsidiaries, Stifel Nicolaus and Company, Incorporated (Stifel Nicolaus, the subject of this article), a retail and institutional brokerage and investment banking firm; Century Securities Associates, Inc. (CSA), an independent contractor broker-dealer firm; Stifel Nicolaus Limited (SN Ltd), the Company’s international subsidiary, and Stifel Bank and Trust, a retail and commercial bank. These subsidiaries provide brokerage, trading, investment banking, investment advisory, and related financial services. Customers include individuals, corporations, institutions, and municipalities.

The parent company has five segments: Private Client Group, Equity Capital Markets, Fixed Income Capital Markets, and Stifel Bank, among others. Private Client Group provides securities brokerage services, including the sale of equities, mutual funds, fixed income products, and insurance to its private clients. Equity Capital Markets includes operations such as corporate finance management and participation in underwritings, mergers and acquisitions, institutional sales, trading, research, and market making. The activities of Fixed Income Capital Markets include public finance, institutional sales, and competitive underwriting, and trading. Through Stifel Bank and Trust, the company offers retail and commercial banking services to private and corporate clients.

Overview

Stifel Nicolaus global headquarters in St. Louis, Missouri

As of 2009, Stifel Financial employed 4,434 people in over 294 offices throughout the U.S. and in Europe.

• The CEO is Ronald J. Kruszewski.
• One of the largest middle-market investment banks
• Corporate headquarters in St. Louis
• Capital markets headquarters in Baltimore
• Private Client Group

1,885 investment executives (including independent contractors affiliated with Century Securities Associates)

296 offices in 42 states

Over $91 billion in assets under management

• Equity Research

Stifel Nicolaus capital markets headquarters in Baltimore, Maryland

Leading "off Wall Street" equity research franchise

5th largest research department in the U.S. and the largest provider of small cap coverage

#1 in Stock Picking and #1 in Earnings Estimate Accuracy out of 264 firms in StarMine's 2008 domestic rankings

Over 60 senior research analysts covering 826 companies

• Investment Banking

Extensive capital raising experience and mergers & acquisitions experience

Since 2000, Stifel Nicolaus Capital Markets (including Legg Mason transactions) has completed:

• Over 692 public offerings totaling $165 billion in value

• Over 297 M&A transactions totaling $22 billion in value

• Over 284 private placements totaling $12 billion in value

• Institutional Sales & Trading

115-person Institutional Equity Sales & Trading team

142-person Institutional Fixed Income Sales & Trading group

25 offices including 3 European locations

History

• 1890 Founding of the Stifel, Nicolaus predecessor firm named Altheimer & Rawlings Investment Company in St. Louis.
• 1923 Company renamed Stifel, Nicolaus & Company, Incorporated.
• 1931 The first branch office was established in Chicago, IL.
• 1958 Stifel became a member of the New York Stock Exchange.
• 1960 Albert, Theis & Sons acquired.
• 1962 Cruttenden, Podesta & Miller Louisville Office acquired.
• 1970 Dempsey Tegeler Office acquired.
• 1981 Altorfer, Podesta & Woolard acquired.
• 1982 Bacon Whipple acquired.
• 1983 Stifel's holding company, Stifel Financial Corporation, formed and goes public. In July, Stifel becomes a publicly owned corporation as a result of a $1,442,870 share offering.
• 1985 Scherek, Stein & Frane acquired.
• 1987 Stifel Financial Corporation was listed on the New York Stock Exchange (NYSE).
• 1988 Rowland, Simon acquired.
• 1997 Purchase of 15% of Stifel Nicolaus common stock by Western-Southern Life Insurance Company.
• 2000 Stifel merged with Hanifen Imhoff in Denver. Firm continued under the name Stifel, Nicolaus & Company, Incorporated.
• 2005 Stifel Financial Corporation announced acquisition of Legg Mason Capital Markets Business (Investment Banking, Institutional Sales & Trading, Research, and Fixed Income), then owned by Citigroup.
• 2006 Purchased Private Client Group of Minneapolis-based Miller Johnson Steichen Kinnard, Inc. (MJSK) and announced bank acquisition of First Service Financial Co.
• 2007 Ryan Beck & Co. acquired from BankAtlantic Bancorp.
• 2008 Announced formation of asset management subsidiary, Choice Financial Partners, Inc. and acquired 17 offices from Butler Wick & Company from United Community Financial Corp.
• 2009 Acquired 56 offices from UBS Financial Services Inc.
• 2010 Acquired Thomas Weisel Partners.
• 2011 Acquired Stone & Youngberg LLC.

Recent acquisitions and highlights

On December 1, 2005, Stifel Financial closed on the acquisition of the Legg Mason Capital Markets business (LM Capital Markets) from Citigroup Inc. The LM Capital Markets business acquired by the Company included the Investment Banking, Equity and Fixed Income Research, Equity Sales and Trading, and Taxable Fixed Income Sales and Trading Departments. (22 offices in the US and Europe and 500 associates)

In October 2006, the company acquired the private client business of Miller Johnson Steichen Kinnard, Inc. (MJSK). (7 offices)

In February 2007, the company completed the acquisition of Ryan Beck Holdings, Inc., from BankAtlantic Bancorp, Inc. Through its subsidiaries, Ryan Beck provides financial advice and solutions to individuals, institutions, and corporate clients. (43 offices in 14 states and 1,100 associates)

In April 2007, the company completed the acquisition of First Service Financial Company, and its wholly owned subsidiary, First Service Bank, a St. Louis-headquartered, Missouri chartered bank. As a result of the transaction, the company became a bank holding company and a financial holding company.

In June 2008, the company announced the formation of a wholly owned asset management subsidiary, Choice Financial Partners, Inc. The subsidiary will focus on asset management businesses offered to individual and institutional investors through Stifel Nicolaus and directly with third parties.

In December 2008, the company completed its $12 million acquisition of Butler Wick & Co. Inc. from United Community Financial Corp. Butler Wick, a Youngstown, Ohio-based provider of financial advisory services, has offices in Ohio, Pennsylvania and New York. (23 offices in three states and 175 associates)

In March 2009, the company entered into an exclusive agreement with UBS Financial Services Inc. ("UBS") to acquire up to 55 branches from the UBS Wealth Management Americas branch network. (55 offices in 24 states and 500 associates)

Major locations

• St. Louis, Missouri, U.S., global headquarters
• Baltimore, Maryland, U.S., capital markets headquarters

External links

• Stifel Nicolaus website
• Investor Relations
• Press Releases
• Branch Locator
• Board of Directors
• Stifel Bank & Trust website
• Century Securities Associates website

Data

• Yahoo! Finance — Stifel Financial Corp. Company Profile
• Annual Reports