SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): July 2, 1997
STIFEL FINANCIAL CORP.
(Exact Name of Registrant as specified in its Charter)
Delaware 1-9305 43-1273600
(State of (Commission File (IRS Employer
Incorporation) Number) Identification No.)
500 North Broadway
St. Louis, Missouri 63102-2188
(Address of principal executive offices, including zip code)
(314) 342-2000
(Registrant's telephone number, including area code)
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Item 5. Other Event
On July 2, 1997, Stifel Financial Corp. (the "Registrant")
announced that Gregory F. Taylor, Director, President and Chief
Executive Officer of both Stifel Financial Corp. and Stifel,
Nicolaus & Company, Incorporated (the Registrant's wholly-owned
broker-dealer subsidiary) will resign effective July 31, 1997.
A search committee has been appointed to select the
successor CEO and will begin its work immediately. In the interim
period, Stifel will be managed by its six-person Operating
Committee of which Mr. Lawrence E. Somraty will serve as
Chairman.
Mr. Taylor has other endeavors he would like to explore. The
Board of Directors announced that he has agreed to serve the
company, in a consulting relationship.
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(a) Financial Statements of Businesses Acquired.
None.
(b) Pro Forma Financial Information.
None.
(c) Exhibits.
Exhibit 99: Press Release
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.
STIFEL FINANCIAL CORP.
Date: July 9, 1997 By: /s/ Stephen J. Bushmann
Name: Stephen J. Bushmann
Title: Chief Financial Officer
Exhibit 99
Stifel Financial News
500 North Broadway
St Louis, Missouri 63102
(314) 342-2000
St. Louis, Missouri, July 2, 1997 - Stifel, Nicolaus &
Company, Incorporated announced today that Gregory F. Taylor,
President and Chief Executive Officer of both Stifel Nicolaus and
Stifel Financial Corp., has resigned effective July 31, 1997.
A search committee has been appointed to select the
successor CEO and will begin its work immediately. In the interim
period, Stifel will be managed by its six-person Operating
Committee of which Mr. Lawrence E. Somraty will serve as
Chairman.
Mr. Taylor said, "I am very proud of what the Stifel team
has accomplished in the last few years, strengthening the firm's
profitability and positioning us for growth in the future. The
current price of our stock certainly reflects a more suitable
value for what we truly are and can become. After spending the
last five years working to restructure the firm, increase our
productivity, and resolve litigation, I think it is time for a
change, both for me and the firm. A new era deserves a new
leader, and I have other endeavors I would like to explore with a
family who deserves to see more of me.
I particularly want to thank all those employees of Stifel
who have labored loyally though the past five years. The success
we achieved was a team effort, and I fervently wish for further
success and rewards for all of you for your unfaltering efforts."
Mr. Walker stated, "Of course, we regret Greg's decision to
leave the company. During his tenure, the company has been
strengthened, and I share his view that today we are well
positioned for the future. The Board of Directors is delighted
that he has agreed to serve the company, in a consulting
relationship. We wish him well in whatever he undertakes in the
future."
