Stifel Nicolaus is eager to continue hiring big-firm brokers who feel marginalized, CEO says, despite short-term effect of the cost on profit margin.
A week after hiring a Houston duo producing $3.4 million, Stifel Nicolaus recruits two more Merrill brokers in Dallas who generated $3.5 million in the past 12 months.
Separately, Merrill on Thursday shifted a complex manager in St. Louis to fill a vacant management role in Minneapolis.
Rising productivity—averaging $952,000 annualized for recruits arriving in April—is the metric to watch, say Stifel executives.
Ryan Schack, who was with Merrill in Ohio and Florida for 19 years, will oversee three Sunshine State offices at Stifel.