Stifel Hires Charlie Smith as Managing Director in Venture and Fund Banking Group

Rhea-AI Summary

Stifel Financial Corp. (NYSE: SF) announced the appointment of Charlie Smith as Managing Director in the Venture and Fund Banking Group, based in California. This hire aims to enhance Stifel's presence on the West Coast, particularly in the technology and life sciences sectors. Smith brings over 20 years of experience from City National Bank and Wells Fargo. The Venture and Fund Banking Group has successfully produced $2.5 billion in loan commitments and over $1 billion in deposits since its launch in 2018, indicating strong growth in its financial services offerings.

Positive

• Hiring of Charlie Smith expected to enhance West Coast operations.
• Venture and Fund Banking Group has produced $2.5 billion in loan commitments.
• Group's services complement existing investment banking offerings.

Negative

• No significant negative aspects reported.

New Hire Extends the Group’s National Footprint into California and Western United States

ST. LOUIS, June 15, 2021 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced the hiring of Charlie Smith as Managing Director in the Venture and Fund Banking Group. Based in California, Mr. Smith is responsible for West Coast fund banking to venture capital and private equity funds, primarily focused on the technology and life sciences sectors.

“We are thrilled to welcome Charlie to our team as we actively expand our national footprint,” said Brad Ellis, Head of Venture and Fund Banking at Stifel. “Mike Breaux has done a tremendous job building our fund banking business over the last three years and driving us to this important point. We are now able to complement Stifel’s well-established investment banking team on the West Coast, with on-the-ground fund banking capabilities designed specifically for the venture capital and private equity communities. This is a key initiative for us, and we expect to make additional investments and hires in the coming months.”

Mr. Smith brings more than two decades of finance experience, primarily working in the asset management space. He joins Stifel from City National Bank, where he was a Senior Vice President in the firm’s Structured Finance group. In this role, Mr. Smith developed and maintained holistic banking relationships with private equity firms and their affiliates. Prior to this, he was a Senior Vice President in the Wells Fargo Private Bank Specialty Finance Group focused on providing financing to general partners of private equity firms. He earned an MBA from the Simon School of Business at the University of Rochester, and a Bachelor of Science from the Marshall School of Business at the University of Southern California. He also holds a CFA charter.

“I’m excited to join the Stifel platform,” commented Mr. Smith. “Having the ability to tap into the broader Stifel network is a game changer. We are able to offer clients one-stop solutions, including direct lending and banking for portfolio companies, traditional investment banking services, fund placement, fund finance, and management company lending.”

Stifel’s Venture and Fund Banking Group launched in 2018 and provides debt capital financing and commercial banking solutions to entrepreneurs, investors, and their businesses. With national coverage capabilities, the group has produced $2.5 billion in loan commitments and more than $1 billion in deposits in less than three years. The Group targets early-stage startups through mature growth companies and offers broad fund banking products such as capital call/subscription lines of credit in excess of $100 million, treasury management tools, and high-touch relationship management with a single point of contact.

“Not only is venture and fund banking an attractive loan and deposit growth vehicle for us, it is also highly complementary to other businesses across the Stifel platform,” noted Chris Reichert, CEO of Stifel Bank & Trust. “We are incredibly pleased with our success to date and look forward to Charlie’s contributions on the West Coast.”

Stifel Company Information
Stifel Financial Corp. (NYSE: SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries. Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated, including its Eaton Partners business division; Keefe, Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC and Stifel Independent Advisors, LLC. The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities.  Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions.  Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services.  To learn more about Stifel, please visit the Company’s website at www.stifel.com. For global disclosures, please visit https://www.stifel.com/investor-relations/press-releases.

Media Contact
Neil Shapiro, (212) 271-3447
shapiron@stifel.com

Jeff Preis, (212) 271-3749
preisj@stifel.com

FAQ

What is the significance of Charlie Smith's hiring for Stifel (SF)?

Charlie Smith's hiring is expected to strengthen Stifel's presence in California and the broader West Coast market, enhancing its fund banking capabilities.

What impact will the new hire have on Stifel's operations in the technology sector?

With Smith's focus on venture capital and private equity funds, his hire may improve Stifel's service offerings and increase its engagement in the technology sector.

What are the financial highlights of Stifel's Venture and Fund Banking Group?

Since its launch in 2018, the Venture and Fund Banking Group has achieved $2.5 billion in loan commitments and over $1 billion in deposits.

How does the new hire align with Stifel's growth strategy?

The addition of Charlie Smith supports Stifel's strategy to expand its national footprint and enhance its fund banking services, specifically targeting the West Coast.