KB forges ties with Stifel for investment banking
KB Financial Group has joined hands with Stifel Financial Corp., an American financial services firm, to bolster its investment banking business abroad, the group said Monday.
Through the partnership, the two parties will seek close cooperation in investment banking, and wealth and asset management while working together to find new opportunities not only in the U.S. but also in other advanced markets.
“A growing number of our customers are seeking investment opportunities in the U.S. with its advanced financial system. We hope this cooperation will help us create various business opportunities thereby boosting sustainable growth,” a KB official said.
Under the agreement, the two will boost cooperation in the brokerage research sector to meet the growing needs of Korean customers seeking investment opportunities in the U.S. stock market.
Regular meetings will be organized to help the two share information on landing investment banking deals and financial product sourcing.
The two will map out joint investment plans based on regions or “specific business interests.”
“The American firm has broad connections not only across the U.S. but also in Europe. It can help us with various business deals there. We, in turn, can share our business connections in South East Asian countries. This will maximize our mutual benefit,” a KB official said.
The U.S. multinational investment bank and financial services company is listed on the New York Stock Exchange and is known for its wealth management through diversified business portfolio management.
With 2,193 financial advisers in 377 private client group branches across the U.S., Stifel Financial has $24.3 billion (28.4 trillion won) in assets under management as of June 2019, according to KB.
It manages public offerings of equity and debt securities, raising debt and equity in the private market with a specialty in initiating, structuring and negotiating mergers and acquisitions.