STIFEL FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 16, 2024.
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FY2023 · Filed Feb 16, 2024
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Item 2. Properties
The following table sets forth the location, approximate square footage, and use of each of the principal properties used by our company during the year ended December 31, 2023. We own our executive offices in St. Louis, Missouri. We lease or sublease a majority of these properties under operating leases. Such leases expire at various times through 2036.
| Location | Approximate Square Footage | Use |
|---|---|---|
| St. Louis, Missouri | 434,000 | Headquarters and administrative offices of Stifel, Global Wealth Management operations (including SIA), and Institutional Group operations |
| New York, New York | 282,000 | Global Wealth Management and Institutional Group operations |
| Baltimore, Maryland | 97,500 | Institutional Group operations and Administrative offices |
| San Francisco, California | 70,500 | Global Wealth Management and Institutional Group operations |
We also maintain operations in 468 leased offices in various locations throughout the United States and in certain foreign countries, primarily for our broker-dealer business. We lease 398 private client offices. Our Institutional Group segment leases 70 offices in the United States and certain foreign locations. We believe that, at the present time, the space available to us in the facilities under our current leases and co-location arrangements are suitable and adequate to meet our needs and that such facilities have sufficient productive capacity and are appropriately utilized.
Leases for the branch offices of our independent contractor firms are the responsibility of the respective independent financial advisors.
See Note 20 of the Notes to Consolidated Financial Statements for further information regarding our lease obligations.
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