STIFEL LAYS AXE TO PUB FI DIV

Special to the Readers of Milwaukeeworld

By Michael Horne

And The Milwaukee World Hound Dog Team

Stifel, Nicolaus & Co., [NYSE: SF] the St. Louis-based investment house, has dismissed the Historic Third Ward-based staff of its Milwaukee Public Finance office.
The firm is embroiled in a legal controversy with five southeast Wisconsin school districts regarding investments sold to them to finance Other Post Employment Benefit [OPEB] commitments for employees and retirees. It is not known whether the closing has anything to do with the case.
There is no information on the StifNic website to provide further information, including whether the action is part of an elimination of the entire public investment division, known as a consistent money-maker for the publicly traded firm.
A Stifel spokesman had this to report in response to Milwaukeeworld's inquiry:
"It is our corporate policy not to comment on personnel matters. However, Stifel continues to maintain a Public Finance office in Milwaukee, led by David DeYoung. Moreover, the company earlier this month strengthened its presence in the Public Finance field by hiring most of Wachovia Corp.'s Ohio banking team."

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A NOTE FOR MY READERS:

I will enjoying my 55th Birthday along with those of you who can attend Wednesday, February 25th, 2009 at Good Life, 1935 N. Water St., at the foot of the (closed) Humboldt Bridge. Let's say 5-ish. We will enjoy samplings of Buffalo Water Bison Blonde Lager beer, and who knows what else!
Michael Horne