Stifel Prepares Clients for Busy Proxy Season Through New Activism Defense Practice

ST. LOUIS, Feb. 27, 2018 -- Stifel Financial Corp. (NYSE:SF) today announced the launch of its new Shareholder Activism Defense practice, led by Juan Bonifacino, who joins the firm as Managing Director in New York.  The offering aims to help companies effectively respond to activist campaigns and contested elections as well as to prepare proactive defense strategies.

As part of this service, Stifel will offer strategic and tactical advice and logistical support to companies currently dealing with shareholder activists.  The Stifel team will also advise boards and management teams on ways to manage and reduce activism risk, including preparedness planning, vulnerability assessments, and strategies for institutional investor outreach and engagement.

“Activism has become a critical part of the capital markets and M&A toolkit,” said Brad Raymond, Head of Investment Banking at Stifel.  “There are significant dollars flowing into activist funds, and institutional investors are increasingly supporting activist strategies.  All companies should be prepared to face an activist situation, and we’re glad to have Juan on board to help guide them, especially as we approach proxy season.”

The number of companies publicly subjected to activist demands has jumped by 41 percent since 2013, according to Activist Insight.  The same data shows no companies are immune, regardless of size.  Roughly two-thirds of activist targets last year were companies with market capitalizations under $2 billion.

“Many institutional investors see activism as a mechanism for information discovery in the market, to spur a debate about a board’s track record of stewardship,” noted Mr. Bonifacino.  “Having strong relationships with these shareholders is a fundamental part of a robust defense.”

Prior to joining Stifel in late 2017, Mr. Bonifacino was a Principal at CamberView Partners, a corporate governance advisory firm that advises public company boards and management teams dealing with proxy contests, shareholder activism, and other complex and contested shareholder matters and helps build strong, productive relationships with institutional investors. 

Mr. Bonifacino previously spent six years at Institutional Shareholder Services (ISS), where he served as a Vice President of M&A and Proxy Contest Research.  In that role, he evaluated the financial and strategic implications of proxy contests, contested mergers, and other economic-focused shareholder election proposals for institutional investor clients.

Stifel Company Information
Stifel Financial Corp. (NYSE:SF) is a financial services holding company headquartered in St. Louis, Missouri, that conducts its banking, securities, and financial services business through several wholly owned subsidiaries.  Stifel’s broker-dealer clients are served in the United States through Stifel, Nicolaus & Company, Incorporated; Keefe Bruyette & Woods, Inc.; Miller Buckfire & Co., LLC; Century Securities Associates, Inc.; and Eaton Partners, LLC, and in the United Kingdom and Europe through Stifel Nicolaus Europe Limited.  The Company’s broker-dealer affiliates provide securities brokerage, investment banking, trading, investment advisory, and related financial services to individual investors, professional money managers, businesses, and municipalities.  Stifel Bank & Trust offers a full range of consumer and commercial lending solutions.  Stifel Trust Company, N.A. and Stifel Trust Company Delaware, N.A. offer trust and related services.  To learn more about Stifel, please visit the Company’s website at www.stifel.com.

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