INTL FCStone Inc. completes an acquisition
INTL FCStone Inc. Substantially Completes the Acquisition of the Correspondent Clearing and Independent Wealth Management Businesses from Sterne Agee LLC
INTL FCStone Inc. (NASDAQ:INTL) (“INTL”) announced that it has substantially completed, effective July 1, 2016, its acquisition of the correspondent securities clearing business and independent wealth management business from Sterne Agee LLC, a wholly-owned subsidiary of Stifel Financial Corp.
The July 1, 2016 closing involved three broker dealer entities purchased from Stifel Financial Corp., while the closing of two registered investment adviser entities involved in the acquisition are expected to close this quarter following a customary notice period.
Source: INTL FCStone
