Stifel Financial Corp. is a financial holding company. The Company's subsidiary is Stifel, Nicolaus & Company, Incorporated (Stifel Nicolaus), a full-service retail and institutional brokerage and investment banking firm. The Company operates in the three segments: Global Wealth Management, Institutional Group, and Other. Its principal activities include private client services, including securities transaction and financial planning services; institutional equity and fixed income sales, trading and research, and municipal finance; investment banking services, including mergers and acquisitions, public offerings, and private placements, and retail and commercial banking, including personal and commercial lending programs. The Company is a bank holding company. In February 2013, KBW Inc merged with Stifel Financial Corp. In November 2013, Stifel Financial Corp. announced that Stifel Bank & Trust completed its acquisition of Acacia Federal Savings Bank.