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ST. LOUIS - Stifel Financial Corp. (NYSE:SF), a financial services firm with a market capitalization of $9.93 billion, announced Wednesday that Victor Nesi, Co-President and Head of the Institutional Group, will retire from his operational responsibilities effective July 1, 2025, after 16 years with the firm.
Nesi will transition to a new role as a member of Stifel’s Board of Directors upon his retirement from day-to-day operations.
During Nesi’s tenure, which began in 2009, the Institutional Group’s revenue grew from $391 million in 2008 to $1.6 billion in 2024, representing a more than fourfold increase. Investment banking revenue increased from $84 million to a peak of $1.6 billion in 2021. According to InvestingPro data, the company maintains strong financial health with a 94.8% gross profit margin and 14.86% revenue growth in the last twelve months.
"It has been an honor and privilege to help grow Stifel into a premier full-service investment bank," Nesi said. "I believe this is the appropriate time for me to step back and allow the next generation of leaders to continue driving our firm forward."
Prior to joining Stifel, Nesi held leadership positions at Merrill Lynch, including Head of Americas Investment Banking. His career in investment banking spans four decades, with previous experience at Salomon Brothers and Goldman Sachs.
Ronald J. Kruszewski, Chairman and CEO of Stifel, credited Nesi with transforming the company’s Institutional Group and establishing a leadership team positioned for continued growth.
Stifel Financial Corp. is a St. Louis-based financial services holding company that provides securities brokerage, investment banking, and related financial services through several subsidiaries. The company has maintained dividend payments for 9 consecutive years, currently offering a 1.91% yield. InvestingPro analysis suggests the stock is currently undervalued, with additional insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US stocks.
The information in this article is based on a company press release statement.
In other recent news, Stifel Financial Corporation reported its Q1 2025 earnings, revealing a challenging quarter with earnings per share (EPS) of $0.49, falling significantly short of the forecasted $1.74. The company’s revenue reached $1.26 billion, slightly below the anticipated $1.3 billion, primarily due to a substantial legal charge of $180 million impacting the bottom line. Despite this, Stifel achieved record-high first-quarter revenue, marking an 8% increase year-over-year. In a strategic move, Stifel completed the acquisition of Bryan, Garnier & Co., a European investment bank, to bolster its capabilities in the European technology and healthcare sectors. This acquisition is expected to enhance Stifel’s market reach and expertise. Additionally, Wolfe Research upgraded Stifel’s stock rating from Peer Perform to Outperform, citing the company’s robust fundamentals and setting a new price target of $108. Wolfe Research highlighted Stifel’s strong net interest income and favorable balance sheet trends as key strengths. These developments reflect Stifel’s ongoing efforts to navigate market challenges and leverage strategic opportunities.
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