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Stifel (SF) Enters Into Prime Brokerage Referral Partnership

Stifel Financial Corp SF and Marex Group PLC MRX have entered into a prime brokerage referral partnership. This will enable both firms to use their broker-dealer affiliates to cater to their hedge fund and investment management clients in a better way.

Under the terms of the partnership, Stifel’s institutional sales and trading group will provide Marex’s trading and execution capabilities to its hedge fund’s institutional clients and investment managers. The services that will be part of this include multi-asset-class custody, financing, securities lending, and capital introduction. On the other hand, Marex’s institutional client base will gain accessibility to SF’s sophisticated research, banking and corporate access offerings.
 
MRX offers multi-asset-class institutional prime brokerage services to a diversified client base consisting of more than 600 clients pertaining to a broad range of investment strategies, instruments and asset classes. The firm has more than 35 offices worldwide with accessibility to more than 75 markets alongside 100 diverse liquidity sources globally.
 
SF’s global sales and trading team includes coverage and sector traders in major financial centers across the United States, UK, Europe and Canada. They provide strategic offerings in block trading, algorithmic trading, portfolio, ETFs, commission-sharing arrangements, options trading and convertible and preferred trading. Notably, Stifel is the only U.S. regional broker with its own Alternative Trading System (ATS).

John Spensieri, co-head of Equity Trading at Stifel, said, “Marex has a well-established prime brokerage and outsourced trading business, with technology-powered data, that will complement our emphasis on offering differentiated products to meet the evolving needs of our global client base.”

Jack Seibald, global co-head of Prime Brokerage Services and Outsourced Trading at Marex, said, “This partnership is a key differentiator that will further enhance our capabilities and complement efforts to expand the global reach of both firms.”

SF has been engaged in expansionary initiatives in order to boost its client base as well as enhance its asset class offerings. This March, the company announced its plan to acquire Finance 500, Inc. and CB Resource, Inc., market leaders in the underwriting and issuance of certificates of deposits (CD). The deal aims to enhance and deepen SF’s CD funding offerings with market-leading CD underwriting, tech-enabled risk management and strategic planning capabilities. In March 2023, the company completed the acquisition of Torreya Partners LLC.

Shares of this Zacks Rank #2 (Buy) company have risen 31.7% in the past six months, outperforming the industry’s growth of 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Zacks Investment Research
Zacks Investment Research


Image Source: Zacks Investment Research

Other Financial Services Firms Taking Similar Steps

Earlier this month, KKR & Co. Inc. KKR entered into a strategic partnership with Capital Group to augment alternative investment solutions for client portfolios. This move aims to make hybrid public-private market investment solutions available to investors across asset classes, channels and geographies.

This move aligns with KKR’s enhanced focus on alternative investment classes to deepen its market presence.

Similarly, M&T Bank Corporation MTB announced the expansion of its utilization of the nCino platform and integration of the latter’s continuous credit monitoring solution into its operations.

MTB has been a longstanding customer of nCino. This AI-powered solution will allow the company to have access to additional data for making efficient decisions. Such innovative partnerships to use technology proficiently will prove to be a game changer for the bank and will transform its ways of managing credit risk and loan performance across its portfolio.

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