Stifel hires Silicon Valley Bank veterans for expanded venture lending unit

Stifel Financial Corp. (SF) said Thursday it's expanding its venture capital lending unit by hiring three "key" partners formerly with Silicon Valley Bank. Jake Moseley, Matt Trotter, and Ted Wilson have joined the bank as managing directors, with leadership roles in Stifel's venture banking unit based in the San Francisco Bay area. Stifel Chairman and CEO Ron Kruszewski said the move marks the bank's "commitment to growth companies, venture capital, and the entire innovation ecosystem." Stifel said the three new hires will join fellow bankers Brad Ellis and Nat Stone as members of a five-person operating committee. "We believe that Stifel is the best place for us to continue our mission of providing best-in-class financial services to entrepreneurs and their investors," Moseley, Trotter and Wilson said in a prepared joint statement. Stifel stock has fallen 10.8% in the past month, compared to a 1.4% gain by the Nasdaq and a loss of 1.4% by the S&P 500 over the same time period. Silicon Valley Bank was taken over the the Federal Deposit Insurance Corp. and is now being sold with bids due this week.

-Steve Gelsi

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03-23-23 0849ET

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