MainFirst Bank AG to combine with Stifel Europe

- MainFirst Bank AG is widely recognized for excellence in equity research and equity brokerage
- The combination creates a Pan-European platform with deep local expertise and distribution power
- MainFirst Asset Management to remain independent  Frankfurt/Main, 06 November 2018 – MainFirst Holding AG today announced that it has agreed to combine the Investment Banking Equities of Mainfirst with Stifel Europe, a leading full-service middle-market investment bank based in London that is a wholly owned subsidiary of Stifel Financial Corp. (NYSE: SF). As a consequence, Stifel Europe acquires MainFirst Bank AG, MainFirst Schweiz AG and MainFirst Securities US Inc. Terms of the transaction were not disclosed. Closing is expected in the first quarter of 2019, pending regulatory approvals. Senior leadership from MainFirst has executed continuation agreements. The acquisition does not affect MainFirst Asset Management. In order to underline its independence, MainFirst Asset Management was split off from MainFirst Bank AG this year and now operates under its new independent corporate structure as MainFirst Affiliated Fund Managers (Germany) GmbH.

MainFirst is widely recognized for excellence in equity research, ranking as the number one provider of country research in both Germany and Switzerland, according to the 2018 Extel Survey. Coupled with Stifel’s existing strength in the U.K. market, the merger creates a Pan-European platform with deep local expertise and distribution power throughout the continent’s major markets. MainFirst carries a full German banking license, enabling Stifel to continue offering corporate advisory, brokerage and investment banking services and clear and settle secondary equity and fixed income trades post-Brexit.

MainFirst also adds significant capital raising capabilities to Stifel’s already robust equity issuance business. Through the first three quarters of 2018, Stifel ranked as the fourth largest fundraiser on the London Stock Exchange, based on both volume (25) and value (1.8 billion pounds) of deals. MainFirst is increasingly focused on syndicate roles, leveraging the firm’s core expertise in research and distribution.

“We are excited to join Stifel, and work with our new colleagues,” commented Ebrahim Attarzadeh, CEO and Head of Equities of MainFirst. “Combined, we will be more relevant to clients in both our brokerage and investment banking businesses.”

“We are extremely pleased to partner with MainFirst, as we continue to make opportunistic investments in our business,” said Eithne O’Leary, President of Stifel Europe. “Given the evolving European regulatory environment and changing market dynamics, we will continue to pursue strategies that enable us to best serve current and future clients with a wider range of products.


Download the press release