Stifel Nicolaus Gets A Token Fine For Raiding AG Edwards Hot

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Compared to the $36 million Wells Fargo -- which inherited A.G. Edwards when it absorbed Wachovia back in the credit crunch -- wanted, the award is extremely small.


In fact, Stifel's CEO practically counts the slap on the wrist as a win for his firm.


Stifel used what's known in recruiting disputes as the "lifeboat defense," in which the new firm claims that brokers were on the move anyway and it was simply providing them a new place to run their businesses.




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