St. Louis, Mo.-based Stifel Financial Corp. announced it has entered into an agreement to acquire Ziegler Lotsoff Capital Management LLC (ZLCM), an asset management business with offices in downtown Milwaukee and Chicago.
The acquisition will bring new asset management strategies and capabilities to Stifel’s existing asset management platform.
ZLCM will continue its long-term partnership with B.C. Ziegler by continuing to offer investment management services to its mutual current and prospective clients.
The transaction, the financial terms of which were not disclosed, is expected to close in the fourth quarter.
A Stifel Financial spokesman said the Ziegler Lotsoff name will be retained, as will the employees and management in the Milwaukee office at 100 E. Wisconsin Ave.
“We have known many of the professionals at ZLCM for years and think very highly of their platform. We are excited to welcome them to the Stifel family,” said Ronald Kruszewski, chairman, president and chief executive officer of Stifel Financial.
Scott Roberts, president of ZLCM, said, “We think Stifel represents a perfect fit for our team and our clients. We look forward to adding to Stifel’s asset management capabilities and enhancing our services going forward.”