ST. LOUIS, MO and BALTIMORE, MD--(Marketwired - Jun 4, 2014) - Stifel Financial Corp. (
"We are very pleased to welcome the experienced team of professionals from LMIC," said Ron Kruszewski, Chairman, President, and CEO of Stifel Financial Corp. "The investment counsel business is a perfect addition to our existing wealth management platform. We think their high touch and personalized approach for each client's unique financial situation perfectly matches Stifel's model and culture. We look forward to partnering with the LMIC team."
Harry O'Mealia, President and CEO of LMIC, stated, "Caring passionately for our clients and providing them outstanding service are the guiding principles of our organization. We are excited to partner with Stifel, which shares this vision, and believe our clients will be well served through the combination. My partners and I look forward to joining the team."
Joseph A. Sullivan, President and CEO of Legg Mason, said, "We are very pleased that the LMIC team has found an ideal partner in Stifel's wealth management platform to serve their clients. For Legg Mason, this transaction continues to evolve our investment affiliate lineup toward fewer and larger firms that can be better leveraged through our global distribution platform. Today, Legg Mason has six key affiliates with compelling investment expertise offered to clients around the world in a variety of investment vehicles."
The Board of Directors of Stifel has approved the acquisition, the terms of which are undisclosed. The transaction is targeted to close in the fall of 2014, subject to customary regulatory approvals.
Stifel Company Information
Stifel Financial Corp. (
About Legg Mason
Legg Mason is a global asset management firm with $673 billion in assets under management as of April 30, 2014. The Company provides active asset management in many major investment centers throughout the world. Legg Mason is headquartered in Baltimore, Maryland, and its common stock is listed on the New York Stock Exchange (symbol: LM).
About Legg Mason Investment Counsel
Legg Mason Investment Counsel is comprised of a registered investment adviser (Legg Mason Investment Counsel, LLC) and a trust company with national trust powers (Legg Mason Investment Counsel & Trust Co., N.A.). Its focus is to provide counsel that helps families, individuals, and institutions achieve their financial goals. Offices are located in Baltimore, Cincinnati, New York, and Philadelphia.
Cautionary Note Regarding Forward-Looking Statements
The information contained in this press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements in this release not dealing with historical results are forward-looking and are based on various assumptions. The forward-looking statements in this release are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or implied by the statements. Material factors and assumptions could cause actual results to differ materially from current expectations. The Company does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made. The Company disclaims any intent or obligation to update these forward-looking statements.
Contact Information:
Stifel Investor Relations
Sarah Anderson
(415) 364-2500
Legg Mason
Investors:
Alan Magleby
(410) 454-5246
Media:
Mary Athridge
(212) 805-6035