Stifel to acquire Finance 500 and CB Resource By

Stifel to acquire Finance 500 and CB Resource By

© Reuters.

ST. LOUIS – Stifel Financial Corp . (NYSE: NYSE:) announced today the signing of a definitive agreement to acquire Irvine-based Finance 500, Inc. and CB Resource, Inc. The financial terms of the transaction, which is expected to enhance Stifel’s offerings in the financial services sector, were not disclosed.

Finance 500 and CB Resource are recognized for their roles in the underwriting and issuance of certificates of deposits (CDs), having supported over 1,200 depository institutions with more than $200 billion in raised funds. These acquisitions are set to bolster Stifel’s technology-driven platforms and expand its reach in the brokered CD funding market, institutional CD investment offerings, and community bank balance sheet risk management.

Brant McDuffie, Stifel’s Global Co-Head of Fixed Income Capital Markets, expressed confidence in the seamless integration of the new acquisitions, citing a shared client-driven approach. Jeff Rigsby, Chairman and CEO of both Finance 500 and CB Resource, echoed this sentiment, highlighting the benefits to clients from Stifel’s market presence and comprehensive product suite.

The transaction, which will bring together Finance 500’s expertise in CD funding and trading with CB Resource’s advanced technology platform for enterprise risk management and performance analytics, is expected to provide a scalable and sustainable future for Stifel’s related business lines.

Stifel Financial Corp., headquartered in St. Louis, Missouri, operates its banking, securities, and financial services businesses through various subsidiaries, serving clients across the United States, Canada, the United Kingdom, and Europe.

The information provided is based on a press release statement from Stifel Financial Corp.

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