Deals
Stifel to Buy Germany's MainFirst Bank in Response to Brexit
- Acquisition will give Stifel full German banking license
- Stifel’s European unit had been considering Brexit response
A barge travels on the River Main as skyscrapers stand beyond in the financial district in Frankfurt.
Photographer: Jasper Juinen/BloombergThis article is for subscribers only.
Stifel Financial Corp. will expand into Europe by buying the brokerage operations of Germany’s MainFirst Holding AG, ensuring that the U.S. firm can keep offering financial services in the European Union after Brexit.
Stifel’s London-based European unit will acquire MainFirst’s businesses in Germany, Switzerland and the U.S. and add about 150 employees to the 300 it already has in the U.K. MainFirst holds a full German banking license, enabling Stifel to offer advisory, brokerage and investment banking services in the EU as well as clear and settle trades after Brexit, it said.