Stifel Announces Victor Nesi to Retire as Co-President and Head of Institutional Group; Joins Board of Directors

Rhea-AI Summary

Stifel Financial Corp announced that Victor Nesi, Co-President and Head of the Institutional Group, will retire from his operational roles effective July 1, 2025, while joining the company's Board of Directors. During his 16-year tenure, Nesi significantly transformed Stifel's Institutional Group, growing its revenue from $391 million in 2008 to $1.6 billion in 2024, with investment banking revenue alone increasing 20-fold from $84 million to a peak of $1.6 billion in 2021. Under his leadership, the group expanded across geographies, products, and capabilities. Nesi, who previously held leadership positions at Merrill Lynch and worked at Salomon Brothers and Goldman Sachs, joined Stifel in 2009 and played a crucial role in establishing the firm as a major investment banking player.

Positive

• Institutional Group revenue grew over 4x during Nesi's tenure, from $391M to $1.6B in 2024
• Investment banking revenue increased 20x under his leadership, reaching a peak of $1.6B in 2021
• Seasoned leadership team and strong organizational structure already in place for succession
• Continued involvement through Board of Directors position ensures strategic continuity

Negative

• Loss of experienced leadership with 16 years of company-specific expertise
• Potential disruption in institutional client relationships built under Nesi's tenure

ST. LOUIS, June 11, 2025 (GLOBE NEWSWIRE) -- Stifel Financial Corp. (NYSE: SF) today announced that Victor Nesi, Co-President and Head of the Institutional Group, will retire from his day-to-day operating responsibilities effective July 1, 2025, after 16 years of distinguished service. Mr. Nesi will, however, continue to serve the firm, simultaneously joining its Board of Directors.

“Victor has been instrumental in building the platform we have today,” said Ronald J. Kruszewski, Chairman and CEO of Stifel. “The transformation of our Institutional Group under his guidance is one of the great success stories in our firm’s history. His strategic vision, leadership, and relentless focus on client service elevated Stifel into a major player in the investment banking world. On a personal level, I am grateful for Victor’s partnership and steady counsel, and I am thrilled he will continue to contribute as a valued member of our Board.”

Mr. Nesi joined Stifel in 2009, at a formative moment for the firm’s Institutional Group. Under his stewardship, the Institutional Group’s overall revenue grew from $391 million in 2008 to a peak of $2.2 billion in 2021, while extending its reach across geographies, products, and capabilities. Investment banking revenue alone climbed 20x during this time from $84 million to a record $1.6 billion.

In 2024, the Institutional Group reported $1.6 billion in revenue, which represents a more than fourfold increase since Mr. Nesi’s arrival.

“Importantly, Victor has also ensured that the Institutional Group is well-positioned for continued success,” added Mr. Kruszewski. “He has put in place a seasoned leadership team and a strong organizational structure designed to carry forward the culture that he helped establish.”

“It has been an honor and privilege to help grow Stifel into a premier full-service investment bank,” said Mr. Nesi. “Our success is a direct reflection of the extraordinary people of Stifel – their talent, relentless drive, and unwavering commitment have made everything possible. Together, we have built something enduring with the momentum to achieve even greater things. Consequently, I believe this is the appropriate time for me to step back and allow the next generation of leaders to continue driving our firm forward. I am still energized and eager for new challenges and I look forward to supporting Stifel’s continued success in my new role on the Board.”

Mr. Nesi’s career in investment banking spans four decades. Before coming to Stifel, he held several leadership positions at Merrill Lynch, including Head of Americas Investment Banking. He has also worked as an investment banker at Salomon Brothers and Goldman Sachs and practiced corporate and securities law at Shea & Gould.

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, +1 (212) 271-3447
shapiron@stifel.com

Investor Relations Contact
Joel Jeffrey, +1 (212) 271-3610
investorrelations@stifel.com

FAQ

When is Victor Nesi retiring from his operational roles at Stifel (SF)?

Victor Nesi will retire from his operational roles as Co-President and Head of the Institutional Group at Stifel effective July 1, 2025.

What was the growth in Stifel's Institutional Group revenue under Victor Nesi's leadership?

Under Nesi's leadership, Stifel's Institutional Group revenue grew from $391 million in 2008 to $1.6 billion in 2024, representing more than a fourfold increase.

Will Victor Nesi maintain any role with Stifel (SF) after his retirement?

Yes, Victor Nesi will join Stifel's Board of Directors upon his retirement from operational roles.

What was Victor Nesi's impact on Stifel's investment banking revenue?

Under Nesi's leadership, Stifel's investment banking revenue increased 20-fold, growing from $84 million to a peak of $1.6 billion in 2021.

What positions did Victor Nesi hold before joining Stifel?

Before Stifel, Nesi held leadership positions at Merrill Lynch, including Head of Americas Investment Banking, and worked at Salomon Brothers and Goldman Sachs.