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ST. Louis – Stifel Financial Corporation . (NYSE: NYSE:) today announced the signing of a definitive agreement to acquire Irvine-based Finance 500, Inc. and CB Resource, Inc. The financial terms of the transaction are expected to strengthen his Stifel offering in the financial services sector. was not revealed.
Finance 500 and CB Resource support more than 1,200 depository institutions with more than $200 billion in capital and are recognized for their roles in underwriting and issuing certificates of deposit (CDs). These acquisitions are intended to strengthen Stifel's technology-driven platform and expand its reach in the brokered CD financing market, institutional CD investment products, and community bank balance sheet risk management.
Brant McDuffie, Stifel's Global Co-Head of Debt Capital Markets, expressed confidence in the seamless integration of the new acquisition, citing a common customer-driven approach. Jeff Rigsby, chairman and CEO of both Finance 500 and CB Resource, echoed this sentiment, emphasizing the benefits Stifel's market presence and comprehensive product suite brings to customers.
The transaction combines Finance 500's CD financing and trading expertise with CB Resources' advanced technology platform for enterprise risk management and performance analysis, adding scalability and sustainability to Stifel's related business areas. It is hoped that this will lead to a possible future.
Stifel Financial Corp. is headquartered in St. Louis, Missouri and operates banking, securities and financial services businesses through various subsidiaries, serving customers in the United States, Canada, the United Kingdom and Europe.
Information provided is based on Stifel Financial Corp. press release statements.
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