US investment bank Stifel is set to shutter its UK-based equities trading business, with potential job cuts expected alongside the closure.
The news confirms the firm’s re-evaluation of its UK sales trading unit, first revealed by The TRADE back in April 2025.
Staff were informed of the closure of the firm’s UK equities trading offering on 1 December 2025, sources close to the matter have told The TRADE.
The move is understood to support the firm in shifting its focus towards becoming an advisory-led business in Europe, with capital raising capabilities for mid-market issuers.
Speaking on the news, Neil Shapiro, head of corporate communications at Stifel, said: “This is the next phase in the evolution of our European operations, advancing our transition to a more advisory-centric, capital light business model.
“Any decision to intentionally exit select businesses is designed to best position the firm for sustained success, concentrating on high-growth opportunities where Stifel has a meaningful competitive advantage.”
The firm has also confirmed that it will continue to offer several key services, spanning corporate broking, equity research, sales, and trading of European financial institutions through its investment banking arm, KBW.
In addition, Stifel will also still offer its UK and EU-based clients with execution services and US research, alongside its IRIS product, specialising in healthcare and tech services, and associated sales and execution.
Several senior staff members have already left the firm, as reported by The TRADE in April, including UK market maker for Stifel Nicolaus Europe, Robert Tappin and European equity trader, Peter Chapman.
In addition, equity sales traders Louise Brooks and Kevin James have also left the business, while departures have also been noted in Stifel’s electronic and DMA team, with Mark Barnes, director of electronic sales trading, managing director of electronic trading, Tony Nash and managing director for electronic hybrid sales trading, Colin Robb are all believed to have left the firm.
More to follow…