Stifel Financial Corp to acquire George K. Baum & Company.

Stifel Financial Corp to acquire George K. Baum & Company, a recognized industry leader in the structuring, underwriting, and marketing of taxable and tax-exempt municipal securities. Terms of the transaction were not disclosed and it is expected to close in the fourth quarter of 2019. “This transaction brings GKB’s nationally recognized municipal securities business to Stifel and further strengthens Stifel’s ability to provide top tier service to municipal issuer clients and non-profit borrowers. Further, GKB’s regional and sector focused practices provide a unique fit with Stifel’s existing public finance structure and a strong foundation to grow our businesses,” said Ronald J. Kruszewski, Chairman and CEO of Stifel.