ST. LOUIS — Revenue swelled 30% during Stifel Financial Corp.'s third quarter, making it the company's second-best quarter in its history, the financial services firm said Wednesday.
Stifel reported $1.1 billion in revenue in the quarter ending Sept. 30, up from $883.3 million over the same period last year. Profits rose 62% to $196 million.
Stifel's Institutional Group revenues increased 36%, and Global Wealth Management revenues grew 24%.
"Based on the strength of our recruiting and investment banking pipelines, as well as our leverage to higher interest rates," Chairman and CEO Ron Kruszewski said in a statement, "Stifel remains well positioned to continue and build upon our decades long growth."
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