Stifel to acquire George K. Baum & Co.

Stifel Financial Corp. (NYSE: SF), headquartered in St. Louis, Missouri, will buy George K. Baum & Co., a 91-year old privately held investment banking firm based in Kansas City, Missouri, to create the nation’s largest public finance platform.

Both companies have operations in Denver, and Stifel operates a location in Greeley.

“This transaction brings GKB’s nationally recognized municipal securities business to Stifel and further strengthens Stifel’s ability to provide top tier service to municipal issuer clients and non-profit borrowers,” Ronald J. Kruszewski, CEO of Stifel, said in a written statement about the acquisition. “Further, GKB’s regional and sector focused practices provide a unique fit with Stifel’s existing public finance structure and a strong foundation to grow our businesses,” he said.

The acquisition does not include George K. Baum Capital Advisors or Baum Capital Partners. Those businesses will continue to operate under Jon Baum’s leadership. 

Once the transaction receives regulatory approval, Stifel will grow to 36 public finance offices throughout the country.

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