Stifel Reports May 2024 Operating Data

Ronald J. Kruszewski, Chairman and Chief Executive Officer, said, "Recruiting and market appreciation drove a 3% increase in total client and fee-based assets during the month. Cash sorting slowed as client money market and insured product levels were essentially flat. Modest growth in Smart Rate balances essentially offset declines in Sweep balances. We continue to see improvement in the environment for investment banking activity, but the timing of closings for M&A transactions remains difficult to foreca ...