Willkie Advises on Sale of Legg Mason Investment Counsel to Stifel Financial Corp.

Firm advises management team of Legg Mason Investment Counsel & Trust Co., N.A. (LMIC) in transaction.

On June 4, it was announced that Stifel Financial Corp. signed a definitive agreement to acquire Legg Mason Investment Counsel & Trust Co., N.A. (LMIC) from Legg Mason, Inc. Willkie represented the management team of LMIC in the transaction. Upon completion of the deal, LMIC will be part of Stifel's Global Wealth Management segment. LMIC provides customized investment advisory and trust services, on a discretionary basis, to individuals, families, and institutions throughout the country. The company's portfolio managers manage over $9 billion in assets. Stifel, headquartered in St. Louis, conducts banking, securities and financial services business through several wholly owned subsidiaries.

The deal was handled by partners Robert Stebbins, Michael Katz and Leslie Mazza.