MainFirst Bank is expected to significantly add to the capital raising capabilities of Stifel’s equity issuance business

Stifel Europe

Image: Stifel Europe completes acquiring German investment bank. Photo: Courtesy of rawpixel/Pixabay

Stifel Nicolaus Europe (Stifel Europe), a subsidiary of Stifel Financial, has completed the acquisition of MainFirst Bank, a German investment bank, for an undisclosed amount.

The acquisition was announced last November. The terms of the deal were not disclosed. MainFirst Bank, a European investment bank, offers equity brokerage and equity capital market services to organisations across key European markets.

When the deal was announced, MainFirst stated that in order to underline its independence, the company’s MainFirst Asset Management was split from MainFirst Bank last year and now it operates under an independent corporate structure as MainFirst Affiliated Fund Managers (Germany).

Claimed to be widely recognised for its equity research, the bank is expected to significantly add to the capital raising capabilities of Stifel’s equity issuance business.

Coupled with Stifel’s strength in the UK market, the deal is expected to create a Pan-European platform with deep local expertise and distribution power throughout Europe’s major markets.

MainFirst has a full German banking licence, enabling Stifel to offer corporate advisory, brokerage and investment banking services and clear and settle secondary equity and fixed income trades post-Brexit.

Stifel Europe president Eithne O’Leary said: “We are excited to welcome the team from MainFirst to Stifel, as this combination represents an important driver of our overall growth strategy.

“Our Pan-European platform will deliver superior capabilities and meaningful reach across the continent, with our combined business offering equity research coverage of more than 700 European companies.

“In addition, we are well-positioned to offer clients uninterrupted advisory, brokerage, and investment banking services together with clearance and settlement of secondary equity and fixed income trades, post-Brexit.”

Stifel is the 4th largest fundraiser on LSE with an overall value of £1.9bn in deals

Stifel is ranked the fourth largest fundraiser on the London Stock Exchange (LSE), based on the number and overall value (£1.9bn) of deals. The organisation is also claimed to be a leader across several sectors in Europe, including real estate, investment funds, oil and gas, and technology, along with Trans-Atlantic franchises in healthcare and financial services (branded as KBW).

MainFirst CEO and equities head Ebrahim Attarzadeh said: “Today is a remarkable day for our firm. We share the same passion as the Stifel team for serving European corporates and investors.

“Not only is joining Stifel a good cultural fit, but it also enables us to expand further into corporate finance and become even more relevant to clients with greater capabilities to serve both sides of the balance sheet.”

Now that the deal is closed, the combined organisation will employ more than 400 professionals, operating from nine offices across Frankfurt, Geneva, London, Madrid, Milan, Munich, New York, Paris and Zurich.