Stifel to Cut UK Equities Trading Staff Amid Market Challenges

Stifel Financial Corp. plans to shut its UK-based equities trading business, impacting around 20 staff, as part of a pullback in the UK market. The company will continue to provide corporate broking services, distribute US research to UK and European clients, and provide trading of European financial institutions through subsidiary bank KBW. The decision is intended to allow Stifel to focus on where it has a "meaningful competitive advantage."