Stifel acquires fixed-income business First Empire

Stifel Financial Corp., the St. Louis-based financial services company, is expanding its fixed-income business by acquiring New York-based First Empire Holding Corp. and its subsidiaries, including First Empire Securities, Inc.

First Empire offers a range of fixed-income products to about 2,000 customers nationwide, according to a press release. Those clients include credit unions, regional banks, insurance companies and pensions.

Terms of the deal were not disclosed.

The employee-owned company was founded in 1984 and has five regional offices in addition to its Hauppauge, New York, headquarters.

The acquisition will help Stifel “grow and diversify” its client base, Eric Needleman, Stifel’s head of fixed income, said in the press release.

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