Stifel Financial Corporation · NYSE:SF
Stifel Financial — Merger or Acquisition (March 2009)
12 slides from Stifel Financial's merger presentation, Mar 23, 2009
Slide 1: The Acquisition of 55 UBS Financial Services Inc. Branches by Stifel Nicolaus
STIFEL NICOLAUS The Acquisition of 55 UBS Financial Services Inc. Branches by Stifel Nicolaus
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 that involve significant risks, assumptions and uncertainties, including statements relating to the market opportunity and future business pro
Slide 3: Participants
Participants STIFEL NICOLAUS Ron Kruszewski Chairman and CEO Jim Zemlyak Chief Financial Officer
Slide 4: Diversified Business w/ Multiple Growth Channels
Diversified Business w/ Multiple Growth Channels 2008 Net Revenues: $868mm [pie chart] Private Client 53% Capital Markets 45% Other 1% Stifel Bank 1% 2008 Operating Contribution [pie chart] Private Client 51% Capital Markets 48% Stifel Bank 1% Private Client Group -- 1,368 Financial Advisors in 203
Slide 5: What do we hope to get?
What do we hope to get? 55 Branch Offices in 25 states [U.S. map of offices] Over 500 Associates, including approximately 320 FAs Approximately $100 million in 2008 production, estimated total revenue $116 million $15 billion assets under management $1.7 billion Cash and Money Market Balances $811 m
Slide 6: Transaction Furthers our Goals
Transaction Furthers our Goals - -Extends our geographic presence - -Strengthens our brokerage Position - -Enhances and accelerates Stifel Bank and Trust strategy - -Accretive in first year
Slide 7: Extends our Geographic Presence
Extends our Geographic Presence [U.S. map of Stifel and UBS offices]
Slide 8: Strengthens our Brokerage Position
Strengthens our Brokerage Position Rank Company Headquarters RRs 1. Citigroup / Smith Barney New York, NY 19,296 2. Wells Fargo Securities St. Louis, MO 16,678 3. Merrill Lynch & Co. New York, NY 15,880 4. Edward D. Jones St. Louis, MO 10,532 5. UBS Financial Services Inc. Weehawken, NJ 8,182 6. RBC
Slide 9: Private Client Metrics
Private Client Metrics Stifel UBS Branches Combined 2008 Gross Revenue (millions) $473 $116 $589 Branch Contribution Margin (1) 31% 35% 32% Brokers 1,329 321 1,650 AUM (billions) $50 $15 $65 Revenues Per Broker (thousands) $414 $363 $404 (1) Before retention payments/amortization.
Slide 10: What are we paying?
What are we paying? "The transaction is structured as an asset purchase for cash at a premium over certain balance sheet items, subject to adjustments. The payments to UBS include: - -An upfront cash payment of up to approximately $27 million based on the actual number of branches and Financial Advi
Slide 11: Key Takeaways
Key Takeaways - -Adds significant capability and an attractive geographic complement to Stifel's Private Client Business - -Solid Financial terms - -Extends our geographic presence - -Strengthens our brokerage position - -Enhances and accelerates Stifel Bank and Trust strategy - -Accretive in first
Slide 12: Q&A
Q&A [Questions and Answers]
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