SOURCE: Stifel Financial Corp.

Stifel Financial Corp.

August 09, 2011 17:12 ET

Stifel Financial Announces Purchase of St. Louis HQ; Adding 225 Jobs

Plans Call for Purchase of Current Downtown HQ Building, Investing in Facility Upgrades and Workforce Growth Over Next Three Years

ST. LOUIS, MO--(Marketwire - Aug 9, 2011) - Stifel Financial Corp. (NYSE: SF), one of the nation's fastest-growing brokerage and financial services firms, announced preliminary plans today to purchase its current headquarters building at 501 North Broadway in downtown St. Louis, including office expansion and the addition of 225 jobs over the next three years. Terms were not disclosed.

"With the growth we are experiencing in our business, it made sense for us to act now and secure the space necessary to support our growing firm," said Ronald J. Kruszewski, Chairman, President, and Chief Executive Officer. "Stifel has maintained its headquarters in the heart of downtown St. Louis since 1890. We are excited to make this commitment to the city, including bringing new jobs to the region."

Since 2005, the number of Stifel associates in the metropolitan area has more than doubled to nearly 1,100, including 800 at 501 North Broadway.

"This is tremendous news for the future of downtown St. Louis, having one of the nation's largest financial services firms commit to investing in the heart of our city," said Mayor Francis G. Slay. "Bringing new jobs to St. Louis through Stifel's expansion will contribute significantly to our growth and reputation as a major headquarters city. This project will also greatly enhance the City of St. Louis' $200 million investment in the Northeast Downtown Business District, which encompasses 501 North Broadway and several other major projects -- including The Laurel -- which will have street-level retail, apartments, and an Embassy Suites hotel."

"This is very exciting and wonderful news for the City of St. Louis," said Darlene Green, Comptroller. "Stifel has a longstanding, respected presence in our downtown, and its decision reflects how St. Louis is a friendly and welcoming place for business."

As part of this investment, Stifel Bank & Trust will seek regulatory approval to relocate its headquarters to 501 North Broadway, while continuing to have other operations in St. Louis County.

"We are reinvesting in downtown St. Louis," Kruszewski added. "It's important for Stifel to contribute to the vitality of the downtown area, and we hope our expansion plans and job growth will spur additional economic development."

Stifel has begun working with local and state officials on a plan that will utilize local and state economic development programs to support the acquisition of the building and the ensuing job growth and business expansion.

Once the incentives package is finalized, Stifel expects to complete all financing for the project during the fourth quarter.

Stifel currently has more than 5,000 associates, up from 1,200 in 2005.

About Stifel Financial Corp.
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 primarily served in the U.S. through 314 offices in 44 states and the District of Columbia through Stifel, Nicolaus & Company, Incorporated and Thomas Weisel Partners LLC, and in Canada through Stifel Nicolaus Canada Inc. Clients in the United Kingdom and Europe are served through offices of Stifel Nicolaus Limited and Stifel Nicolaus Europe Limited (formerly Thomas Weisel Partners International Limited). Each of the broker-dealer affiliates provides 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. To learn more about Stifel, please visit the company's website at www.stifel.com.

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