Company: SFB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027702
Chunk: 498

Company: STIFEL FINANCIAL CORP
Filing Date: 2025-02-26
Form: 10-K
Item: Item 3
Chunk 498
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 for this acquisition consisted of cash from operations.

On January 6, 2025, the Company announced it signed a definitive agreement to acquire Bryan, Garnier & Co. (“Bryan Garnier”), an independent full-service investment bank focused on European technology and healthcare companies. Bryan Garnier’s product suite includes mergers & acquisitions advisory, private and public growth financing solutions, and institutional sales and execution. Bryan Garnier is headquartered in Europe with offices in Paris, London, Amsterdam, Munich, Oslo, Stockholm, and New York. The transaction is expected to close in the first half of 2025. 

Results for the Year Ended December 31, 2024

For the year ended December 31, 2024, net revenues increased 14.3% to a record $4.97 billion compared to $4.35 billion during the comparable period in 2023. Net income available to common shareholders for the year ended December 31, 2024, increased 43.0% to $694.1 million, or $6.25 per diluted common share, compared to $485.3 million, or $4.28 per diluted common share, in 2023. For the year ended December 31, 2024, our Global Wealth Management segment posted record net revenues.

Our revenue growth for the year ended December 31, 2024, was primarily attributable to higher investment banking revenues, asset management revenues, and transactional revenues, partially offset by lower net interest income.

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We remain well-positioned entering fiscal 2025, with nearly $501 billion of client assets under administration, strong activity levels for financial advisory recruiting, a significant interest rate-sensitive asset base at our bank subsidiaries, and a strong investment banking pipeline. We expect wealth management revenues to grow as investors continue to redeploy cash into the markets and client assets grow through recruiting and market appreciation. Institutional revenues are expected to benefit from increased investment banking activity as well as continued growth in transactional revenues, particularly in the fixed income business.

Economic and Market Conditions

We currently operate in a challenging and uncertain economic environment. Results in the businesses in which we operate are highly correlated to general economic conditions and, more specifically, to the direction of the U.S. equity and fixed income markets. Market volatility, overall market conditions, interest rates, economic, political, and regulatory trends, and industry competition are among the factors which could affect us and which are unpredictable and beyond our control. These factors affect the financial decisions made by market participants