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Stifel reveals buy of UK Oriel Securities.

M2 EQUITYBITES-May 8, 2014-Stifel reveals buy of UK Oriel Securities

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8 May 2014 - US financial services group Stifel Financial Corp (NYSE:SF) said today it had agreed to buy UK-based stockbroking and investment banking firm Oriel Securities Ltd for an undisclosed amount.

With this transaction, Stifel will build out its global platform across all of its institutional operations while bringing together over 250 experts to establish a middle-market investment banking group in London. The deal will also substantially grow Stifel's expertise and presence in London, CEO Ronald Kruszewski said.

Oriel, for its part, will use Stifel's scale and expertise to broaden its service offering and provide its clients with access to the US market, founder Simon Bragg noted.

The enlarged company will continue to operate Keefe, Bruyette & Woods Inc (KBW), a wholly-owned subsidiary of Stifel, as a separate company for financial institutions.

The deal is pending clearance by the Financial Conduct Authority (FCA). Completion is anticipated in the third quarter of 2014.

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Publication:M2 EquityBites (EQB)
Geographic Code:4EUUK
Date:May 8, 2014
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