Stifel braces for Brexit, agrees to purchase German investment bank

Stifel Financial’s European subsidiary has agreed to acquire MainFirst, a German investment bank, the St. Louis-based financial services holding company announced Tuesday.

The deal for MainFirst, which offers equity brokerage and equity capital markets services, gives Stifel greater access to “key European markets,” according to a press release. MainFirst has a full German banking license, which will enable Stifel to continue offering a range of services in Europe after Brexit.

Terms of the deal were not disclosed. It’s expected to close in the first quarter of 2019.

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