Stifel taps ex-Merrill Lynch leader in continued growth push

The broker-dealer giant’s new managing director is starting afresh after serving at the BofA wirehouse for 35 years.

Stifel is strengthening its push for growth as it welcomes a seasoned wealth management leader into its ranks.

On Thursday, the St. Louis, Missouri-based financial giant announced that it’s welcoming veteran wealth industry executive Jeff Markham as managing director at its broker-dealer subsidiary.

Markham, who’ll be based in Dallas, Texas, will aid in implementing Stifel’s growth strategy and will serve on the firm’s Global Wealth Management operating committee, according to the firm.

“We couldn’t be more excited to welcome Jeff to Stifel,” said Ron Kruszewski, chairman and CEO of Stifel, and Jim Zemlyak, co-president of Stifel, in a joint statement.

“Our ability to attract a highly respected leader like Jeff speaks volumes as to where we are as a firm and where we are heading as we continue to grow our wealth management business,” Kruszewski and Zemlyak said.

Markham joins Stifel from Merrill Lynch, where he served for 35 years and held a series of leadership roles, including vice chair of Merrill Wealth Management, where he took the lead in the firm’s community markets strategy.

Prior to that, Markham served as division executive for the West Division, a position he was appointed to as part of a broader restructuring at Merrill Lynch in 2017, which effectively cut down its advisor enterprise from 10 divisions to its current slimmed-down profile of six, among other changes.

Markham’s career in the wealth space has been a lengthy one for certain, spanning four decades starting in 1988 as a financial advisor operating in Fort Worth, Texas.

“I’m thrilled to begin this new chapter of my career at Stifel,” he said, highlighting the firm’s “wealth management culture focused on helping its financial advisors succeed.”

“With its growth mindset, outstanding resources, and lack of bureaucracy, I believe Stifel is perfectly positioned to appeal to successful advisors who are looking to better serve their clients and get more from their careers,” Markham said.