Stifel Financial has purchased its current headquarters building at 501 North Broadway in downtown St. Louis, including office expansion, .
As part of this investment, Stifel Financial’s subsidiary Stifel Bank & Trust will seek regulatory approval to relocate its headquarters to 501 North Broadway, while continuing to have other operations in St. Louis County.
Stifel said it has begun working with local and state officials on a plan that will utilize local and state economic development programs to support the acquisition of the building and the ensuing job growth and business expansion.
The financing for the project is expected to complete during the fourth quarter of 2011 once the incentives package is finalized.
Stifel Financial chairman, president, and CEO Ronald Kruszewski said Stifel has maintained its headquarters in the heart of downtown St. Louis since 1890.
"We are reinvesting in downtown St. Louis. It’s important for Stifel to contribute to the vitality of the downtown area, and we hope our expansion plans and job growth will spur additional economic development," Kruszewski added.
Stifel Financial also said that it will be adding about 225 jobs over the next three years.