Stifel Financial Corp. has announced the retirement of Victor Nesi, Co-President and Head of the Institutional Group, effective July 1, 2025. Nesi will, however, continue to serve the firm by joining its Board of Directors.
During Nesi's tenure, the Institutional Group's overall revenue grew significantly. In 2008, the group's revenue was $391 million, which peaked at $2.2 billion in 2021. Notably, investment banking revenue alone climbed from $84 million to a record $1.6 billion during this time. In 2024, the Institutional Group reported $1.6 billion in revenue, representing a more than fourfold increase since Nesi's arrival.
Ronald J. Kruszewski, Chairman and CEO of Stifel, highlighted Nesi's instrumental role in transforming the Institutional Group and lauded his strategic vision, leadership, and relentless focus on client service. Nesi's efforts have positioned the Institutional Group for continued success, with a seasoned leadership team and a strong organizational structure in place.
Nesi expressed his gratitude for the opportunity to contribute to Stifel's growth and success, attributing it to the talent, drive, and commitment of the firm's people. With a career spanning four decades in investment banking, including leadership positions at Merrill Lynch, Nesi looks forward to supporting Stifel's continued success in his new role on the Board.
Stifel Financial Corp., a financial services holding company headquartered in St. Louis, Missouri, conducts its banking, securities, and financial services business through several wholly owned subsidiaries, serving broker-dealer clients in the United States. Stifel Bank and Stifel Bank & Trust offer a full range of consumer and commercial lending solutions, while Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services. The market has reacted to these announcements by moving the company's shares 0.12% to a price of $96.68. For the full picture, make sure to review STIFEL FINANCIAL CORP's 8-K report.
