Stifel Financial Corp. is acquiring an Indianapolis-based wealth management and public finance firm with $4 billion in client assets under management.
Stifel announced early Tuesday that it will acquire 100 percent of the equity interests in City Financial Corp. and its wholly owned subsidiary City Securities Corp. Terms of the deal were not disclosed.
City Financial is an independent investment bank that provides wealth management and public finance services across Indiana and the Midwest. The firm has 40 private client advisers in eight offices across Indiana, and its public finance group is the leading underwriter of Indiana municipal bond issues, according to a release from Stifel about the deal.
Read more: St. Louis Business Journal