Stifel Financial Corp., one of the nation's fastest growing, brokerage and financial services firms, will announce preliminary plans to invest in the purchase of its downtown headquarters building - 501 North Broadway.
- Plans include office expansion and job growth over the next three years.
- 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.
Projected Expansion and Job Growth
Stifel plans to expand its current office space by 50 percent and add 225 jobs over the three-year life of the project. Current employment at this location is 800.
Terms were not disclosed.
Stifel is funding a portion of the cost and has begun working with economic development officials on a plan that will use local and state economic development programs to support the acquisition of the building and the ensuing job growth and business expansion.
- Launch of the Stifel plan is conditional and requires final approval of city and state incentives to complete the purchase and expansion.
- Stifel is working with the city of St. Louis to determine the best possible economic incentives package for this project, one that helps grow our presence downtown and will work for the city.
Once the local and state incentives package is finalized, Stifel expects to complete all financing for the project during the fourth quarter 2011.
About Stifel Financial Corporation
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, 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, Inc. 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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