Stifel sells equities business

Sold Sign

Stifel agreed to sell the equities business that it bought from Sterne Agee to CRT Capital.

Bloomberg News reports that Stifel announced the deal Friday in a statement that didn’t disclose the terms. The company put the stock-trading unit up for sale last month after agreeing to buy Sterne Agee for $150m for its bond-trading and wealth-management businesses.

“We have accomplished this goal of keeping approximately 170 professionals together so they can continue their careers as a team,” Stifel Chief Executive Officer Ron Kruszewski said in the statement. He earlier said that Sterne Agee’s equities division overlapped with Stifel’s existing operations.

To access the complete Bloomberg News article hit the link below:

Stifel Agrees to Sell Sterne Agee Equities Business to CRT

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