Deals
Stifel Buys Vining Sparks, Boosting Bank-Advisory Practice
- Purchase also adds $150 billion in annual trading volume
- CEO says Vining Sparks is ‘strong fit’ with Stifel’s business
Photographer: Peter Foley/Bloomberg
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Stifel Financial Corp. agreed to buy fixed-income brokerage Vining Sparks and its affiliates, adding about $150 billion in annual trading volume and further bulking up its banking-advisory capabilities.
Vining Sparks, based in Memphis, Tennessee, has roughly 275 employees in 13 offices across the country, according to a Stifel statement Wednesday. Terms of the transaction weren’t disclosed.