Thomas Weisel is betting that his four decades as a Silicon Valley dealmaker can help him build the Midwestern investment bank Stifel Financial Corp. into a bigger force in acquisitions and initial public offerings.
Thom Weisel, 69, took the role of Stifel’s co-chairman last month after the company bought his old firm, Thom Weisel Partners Group Inc., for almost $200 million. His new job: parlaying his connections into more underwriting and advisory deals for his employer. Stifel makes much of its money helping customers issue stock, raise debt, and buy and sell companies.
His challenge is building Stifel’s recognition among Bay Area venture capitalists, private-equity managers and executives, many of whom haven’t worked with the St. Louis-based bank. He also faces a drought of IPOs. While mergers have picked up, many companies prefer to use the biggest investment banks, such as Goldman Sachs Group Inc. and Morgan Stanley.