PR Newswire/Les Echos/
Stifel Adds Institutional Fixed Income Brokerage Business From Knight
ST. LOUIS, March 15, 2013 -- Stifel Financial Corp. (NYSE: SF) today announced
it will acquire the U.S. institutional fixed income sales and trading business
from Knight Capital Group, Inc. (NYSE: KCG). Terms of the transaction were not
In addition, Stifel will hire the European institutional fixed income sales and
trading team from Knight. The combined teams comprise approximately 60 sales
and trading professionals in the U.S. and 40 in Europe, covering high-yield and
investment-grade corporate bonds, asset-backed and mortgage-backed securities,
and emerging markets as well as research in select sectors and names.
"Expanding our fixed income business has been an initiative of ours. We look
forward to welcoming this well-regarded, highly complementary team,
specializing in institutional fixed income sales and trading, to our
full-service platform. We continually evaluate opportunities to drive our
growth and expand our product offerings to our clients. This addition is a
continuation of that goal," stated Ronald J. Kruszewski, Chairman, President
and CEO of Stifel Financial Corp.
"Given the competitive environment and Knight's natural strengths, the
management team and Board decided to refocus our attention and resources," said
Tom Joyce, Chairman and Chief Executive Officer of Knight Capital Group. "We're
pleased to have found a partner in Stifel with an expanding platform in fixed
The acquisition of Knight's U.S. business, as well as the hiring of the
European team, is expected to be completed in the second quarter of 2013.
Bryan Cave LLP is providing legal advice to Stifel. Bank of America Merrill
Lynch is serving as the financial advisor, and Wachtell, Lipton, Rosen & Katz
is providing legal advice to Knight.
Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company
headquartered in St. Louis, Missouri that conducts its banking, securities, and
financial services business through several wholly owned subsidiaries. Stifel
clients are served through Stifel, Nicolaus & Company, Incorporated in the
U.S., through Stifel Nicolaus Canada Inc. in Canada, through Stifel Nicolaus
Europe Limited in the United Kingdom and Europe, and through Keefe, Bruyette &
Woods, Inc. in the U.S. and Europe. The Company's broker-dealer affiliates
provide securities brokerage, investment banking, trading, investment advisory,
and related financial services to individual investors, professional money
managers, businesses, and municipalities. Stifel Bank & Trust offers a full
range of consumer and commercial lending solutions. Stifel Trust Company, N.A.
offers trust and related services. To learn more about Stifel, please visit the
Company's web site at www.stifel.com.
Knight Capital Group (NYSE: KCG) is a global financial services firm that
provides access to capital markets across multiple asset classes to a broad
network of clients, including broker-dealers, institutions, and corporations.
Knight is headquartered in Jersey City, New Jersey, with a global presence
across the Americas, Europe, and the Asia Pacific regions. For further
information about Knight, please visit www.knight.com.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this press release contains certain statements that
may be deemed to be "forward-looking statements" within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act
of 1934. All statements in this release not dealing with historical results are
forward-looking and are based on various assumptions. The forward-looking
statements in this release are subject to risks and uncertainties that could
cause actual results to differ materially from those expressed in or implied by
the statements. Material factors and assumptions could cause actual results to
differ materially from current expectations. The Company does not undertake to
update forward-looking statements to reflect circumstances or events that occur
after the date the forward-looking statements are made. The Company disclaims
any intent or obligation to update these forward-looking statements.
SOURCE Knight Capital Group, Inc.
CONTACT: Stifel Investor Relations, Sarah Anderson, +1-415-364-2500,
email@example.com; or Knight Investor Relations, Jonathan Mairs,
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-0- Mar/15/2013 12:55 GMT
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