Stifel Financial Corp. (NYSE: SF) has agreed to buy certain assets of George K. Baum & Company, a broker-dealer that focuses on municipal securities. Financial terms of the transaction were not disclosed, and it is expected to close in the fourth quarter of 2019.
Founded in 1928, George K. Baum & Company is headquartered in Kansas City, Missouri, and since 2000, the firm has provided underwriting or financial advisory services to nearly 8,000 municipal bond issues totaling more than $320 billion. The firm has 24 offices nationwide, including public finance offices in 22 cities.
The transaction does not include George K. Baum Capital Advisors or Baum Capital Partners and those businesses will not be impacted by the acquisition, the company said.
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries.
The firm’s broker-dealer affiliates include Stifel, Nicolaus & Company Incorporated, Keefe Bruyette & Woods Inc., Miller Buckfire & Co. LLC; and Century Securities Associates Inc.
The broker-dealers provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities.