Anyone hearing rumbles about Stifel and UBS doing another deal?
I heard that too, about 2 months ago. No confirmations, though, so I kept it to myself.
Wouldn't surprise me...we did another share issuance last month...that money is for something...last time we did this was a few months before the 55 office purchase...
SF buying more UBS offices makes a lot of sense. UBS just cut more support staff(salary expense is the BIGGEST hit to the bottom line) and more FA cuts are coming and more support staff after that. Net net a lot of branches will have almost no support staff and a lot of assets(so they might think) and SF will be more than happy to buy the assets with very litlte overhead. But these office are so imploded that even FA's relatives will be moving. GOOD LUCK SF!!