April 28, 2010
Partner Paul F. McCurdy was quoted in an SNL Financial article, “Stifel, Thomas Weisel Marriage Must Keep Family of Bankers Happy.”
The article reported on Stifel Financial Corp.’s acquisition of Thomas Weisel Partners Group Inc. Stifel, headquartered in St. Louis, Missouri, is a full-service regional brokerage and investment banking firm. Thomas Weisel Partners is high-tech investment bank based in San Francisco, California. Mr. McCurdy discussed the issues involved in integrating acquired companies such as geographical concerns, change in corporate cultures and talent departures.
The article quoted Mr. McCurdy saying, “The key is whether these two teams, both of which are successful and strong players in their own right, can take advantage of their stated absence of business conflicts and overlap and make the sum greater than the parts.”
Mr. McCurdy also cautioned against the “bigger-is-better” mentality in the broker/dealer field. “‘This is a time of great challenges for the broker/dealer community, and size isn’t the only driver of success,’ he said. ‘Service, good product and reputation are what will differentiate the market participants in the long run.’”
“‘Fortunately,’ McCurdy added, ‘the deal in question is a merger of two very successful firms who appear to be ‘on top of’ issues like deal execution and educating stakeholder groups about potential synergies and the merger’s benefits.’”