Stifel takes home Investment Bank of the Year for its acquisition strategy

Register now

Stifel grew significantly in 2019, completing six acquisitions. The firm recorded its 24th straight year of record net revenues, fueled by a healthy mix of organic growth and accretive acquisitions. Investment banking revenues exceeded $817 million, up 15 percent from the previous year, and the most in company history. The investment bank made significant investments in its advisory business, adding talented individuals, deepening industry and product coverage and expanding its geographic footprint. Advisory revenue in 2019 approached $450 million, a 21 percent year-over-year increase.

Doubling down on tech
Stifel bought Mooreland Partners in 2019 to expand substantially in the technology sector. Together, Stifel and Mooreland advised on more middle-market technology deals over the last decade than any other firm, according to 451 Research. With the addition of Mooreland, Stifel’s global technology group has more than 100 professionals and offices in New York, San Francisco, Silicon Valley, Baltimore, London and Frankfurt.

More acquisitions
Stifel acquired the capital markets business of GMP Capital, a Canadian investment bank. GMP’s capital markets division offers corporate clients and institutional investors a broad range of investment banking services, including capital raising, M&A, trading and research services.

Stifel bought MainFirst Bank in November 2019. MainFirst is a European investment bank that offers equity brokerage and equity capital markets services to companies across Geneva, London, Madrid, Milan, Munich, New York, Paris and Zurich.

Stifel purchased B&F Capital Markets, which provides regional and community banks with extensive interest rate swap capabilities, in September 2019. B&F enters into strategic partnerships with regional and community banks throughout the U.S., which have asset sizes from $500 million to over $30 billion.

In that same month, Stifel acquired certain assets of George K. Baum. The firm has consistently ranked as a leading underwriter and financial advisor in many areas of the country including Colorado, Kansas, Missouri and Utah, and has strong nationwide practices including housing, higher education and independent schools.

Stifel also bought First Empire in the beginning of 2019. First Empire provides fixed income products and services, mainly to credit unions, regional banks, insurance companies, pensions and municipalities.

“I remain optimistic about our future as our strategy of building a diversified financial services franchise continues to consistently generate strong performance, despite ever changing market conditions,” Stifel CEO Ron Kruszewski said during a recent earnings call.

Committed to diversity
In 2020, Stifel held its inaugural Women’s Initiative Network (WIN) summit, bringing female associates together to build relationships, connect with colleagues and learn from female financial industry leaders. Additionally, the firm signed a 2020 sponsorship agreement with the Financial Women’s Association (FWA), an organization committed to developing future women leaders.

To see all the award winners, check out Meet the winners of Mergers & Acquisitions’ M&A Mid-Market Awards.

For reprint and licensing requests for this article, click here.