Stifel Cuts London-Based Equities Trading Staff in Pullback (1)

Stifel Financial Corp. has told staff it plans to shut its UK-based equities trading business, according to people familiar with the matter.

Staff were told in meetings on Monday that the company would consult on potential redundancies impacting around 20 people, some of the people said, asking not to be identified because the information is private.

A representative for St. Louis, Missouri-based Stifel said any decision to “intentionally exit select businesses” is intended to allow the firm to focus on where “Stifel has a meaningful competitive advantage.”

The firm will focus on its core advisory business, continue to provide corporate ...