(Bloomberg) -- Stifel Financial Corp. Chief Executive Officer Ron Kruszewski paused in mid-sentence and asked an employee for the list, a chart showing in red which of the St. Louis-based firms rivals have closed or sold out.
Theres this huge consolidation, Kruszewski, 54, said in an interview in his office, referring to the once crowded field of U.S. regional and local brokerages that vied to serve mid-size companies. Whats left is very few firms that ever were in the middle market. Were one of them.
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