Stifel Shuts Calgary Office, Cuts Toronto Banker Jobs (1)

Stifel Financial Corp. closed its Calgary office, ending a run in energy investment banking in Canada’s oil patch, while also laying off some investment bankers and analysts in Toronto.

The St. Louis-based firm made the cuts earlier this week, according to people familiar with the matter, who asked not to be identified discussing private information. The layoffs include Stifel’s Canadian heads of sales and trading and at least one senior investment banker, one of the people said.

“We have made the difficult decision to scale back some operations in Canada, which includes closing our Calgary office,” Neil Shapiro, Stifel’s head ...