Stifel Financial Corp. has closed on its acquisition of the U.S. institutional fixed income sales and trading business from Knight Capital Group and the hiring of its European institutional fixed income sales and trading team.
St. Louis-based Stifel announced the acquisition in March. The purchase adds about 90 employees in the U.S. and Europe. Terms of the sale were not disclosed.
"The addition of Knight's fixed income sales and trading business in the U.S. and Europe is highly complementary to our current platform," Ron Kruszewski, Stifel's chairman, president, and CEO said in a statement.The London team expands our presence in Europe, where we previously did not have fixed income operations, and the U.S. team gives us a stronger domestic platform through additional products and services."
Knight is based in Jersey City, N.J.