SOURCE: Stifel Financial Corp.

Stifel Financial Corp.

March 13, 2015 16:04 ET

Stifel and Sterne Agee Announce the Sale of Sterne Agee's Institutional Equities Business to CRT Capital

ST. LOUIS, MO--(Marketwired - March 13, 2015) - Stifel Financial Corp. (NYSE: SF) and Sterne Agee Group, Inc. today announced that they have entered into a definitive agreement to sell Sterne Agee's Institutional Equities business, including Equity Sales, Trading and Research to CRT Capital Group LLC. Financial terms were not disclosed. The anticipated closing of this sale is expected as soon as possible after receiving all required approvals, including regulatory approvals.

"When we announced our merger with Sterne Agee last month, an important goal of ours was to preserve Sterne Agee's Equities Business as an intact group. We, together with Sterne Agee's management, were committed to finding the right partner, and are very pleased that we have accomplished this goal of keeping approximately 170 professionals together so they can continue their careers as a team. At Stifel, our focus is on the individuals who collectively comprise an organization. We believe this philosophy will enable us to continue to build the preeminent wealth management and investment banking firm," stated Ronald J. Kruszewski, Chairman and CEO of Stifel.

Eric Needleman, Chairman and CEO of Sterne Agee Group, commented, "When we announced our merger with Stifel the time was right to join together to ensure we maximized shareholder value, but not at the expense of our employees. Today's announcement of the transaction with CRT accomplishes that objective."

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's broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; and Century Securities Associates, Inc., and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited. 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.

About Sterne Agee
Founded in 1901, Sterne Agee is one of the oldest and largest privately owned financial services firms in the nation. Through a team of over 2,000 financial professionals, Sterne Agee offers comprehensive wealth management and investment services to a diverse client base including corporations, municipalities and individual investors. The Firm custodies nearly $26 billion in client assets and has offices nationwide, as well as an office in London. Sterne Agee is the trade name used by certain affiliates of Sterne Agee Group, Inc., including Sterne, Agee & Leach, Inc., member of NYSE, FINRA and SIPC. For more information about Sterne Agee and its services please visit www.sterneagee.com.

Cautionary Note Regarding Forward-Looking Statements
Statements in this press release that relate to the future plans, events, expectations, performance, objectives, and the like of Stifel Financial Corp., as well as Stifel, Nicolaus & Company, Incorporated and its other subsidiaries (collectively, "Stifel" or the "Company") and Sterne Agee Group, Inc. ("Sterne Agee"), may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Future events, risks, and uncertainties, individually or in the aggregate, could cause our actual results to differ materially from those expressed or implied in these forward-looking statements.

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