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Frankfurt (APA / Reuters) – The US investment bank Stifel is taking over the brokerage firm Frankfurt MainFirst. With the German full license of MainFirst, Stifel Europe, a London-based subsidiary, could also offer consulting, brokerage and investment banking services in the EU after Brexit, the two sides announced on Tuesday.
The details of the transaction, expected to be finalized in the first quarter of 2019, have not been named. Founded in 2001, MainFirst Bank AG specializes in trading and stock badysis and employs around 200 people. Executives must remain on board after the acquisition. "The merger is our approach of making opportunistic investments in our company," said Eithne O. Leary, president of Stifel-Europe.
Stifel acquires MainFirst Bank AG, MainFirst Schweiz AG and MainFirst Securities US Inc. The badet management business MainFirst Asset Management, split at the beginning of the year, will not be acquired by Stifel.
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