VVelarionINTELLIGENCE
Sign inStart free trial
Start free trial
Asset Management

Stifel Financial Executive Compensation (FY25)

SF · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Ronald Kruszewski
Median of the other named officers
$9,253,526
5 officers, excluding the chief executive
Latest say-on-pay support
=
June 9, 2026
Chief executive pay ratio
◇
To the median employee
Velarion Intel, $5,000/year: one seat · one year · every company we cover, with dashboards, peer screens and board-ready briefs.
See every company’s exec pay — free for 3 days, no cardSee the plan and pricing
Email me this page as a cited PDF — sent in 2 minutes
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.

The paid brief on Stifel Financial

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
Data as of November 4, 2026Latest filing (8-K): June 9, 2026
11 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Stifel Financial brief$500Get the executive brief
Velarion Intel, one year, every company
324 figures on this page: 315 cited to the filing that reported them, 9 calculated from figures it prints. See the citations

More on Stifel Financial

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Ronald Kruszewski: $16,082,515 → $18,908,297 (17.6% higher)
Say-on-pay support: 96.8% → 98.1% (1.3 points higher)
CEO pay ratio: 129:1 → 145:1 (12.4% higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is Stifel Financial's chief executive and what were they paid?
Total compensation for Ronald Kruszewski, Chairman and Chief Executive Officer, came to $18,908,297 in fiscal 2025. Kruszewski's total moved 17.6% higher from the $16,082,515 reported for fiscal 2024.
What was Stifel Financial's say-on-pay result?
For fiscal 2025, shareholders backed the say-on-pay proposal with 98.1% of votes cast for or against in favor at the meeting held June 9, 2026.
Which companies are in Stifel Financial's peer group?
The disclosed peer group includes Affiliated Managers Group Inc., Ameriprise Financial, Inc., Evercore Inc., Franklin Resources, Inc. and Houlihan Lokey, Inc., among others.
What is Stifel Financial's chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 145:1, against median employee compensation of $130,840.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
Victor Nesi
Co-President and Director of the Institutional Group
◇◇◇———◇◇
James Zemlyak
Co-President and Head of Global Wealth Management
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
Co-President and Head of Global Wealth Management
◇◇◇———◇◇
Victor Nesi
Co-President and Director of the Institutional Group
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
Co-President and Head of Global Wealth Management
◇◇◇———◇◇
Victor Nesi
Co-President and Director of the Institutional Group
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Ronald Kruszewski
Chairman and Chief Executive Officer
◇◇◇———◇◇
James Zemlyak
President and Head of Global Wealth Management
◇◇◇———◇◇
Victor Nesi
Co-President and Head of Institutional Group (retired July 2025)
◇◇◇———◇◇
Thomas Michaud
Senior Vice President
◇◇◇———◇◇
C. Brad Raymond
Co-Head of Institutional Group
◇◇◇———◇◇
James Marischen
Chief Financial Officer
◇◇◇———◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
C. Brad RaymondPSU◇◇◇◇◇—◇
James M. MarischenPSU◇◇◇◇◇—◇
James M. ZemlyakPSU◇◇◇◇◇—◇
Ronald J. KruszewskiPSU◇◇◇◇◇—◇
Thomas B. MichaudPSU◇◇◇◇◇—◇
Victor J. NesiPSU◇◇◇◇◇—◇
Fiscal 2022, 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Ronald KruszewskiRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Victor NesiRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James ZemlyakRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
C. Brad RaymondRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Thomas MichaudRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
James MarischenRSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
David A. Peacock
◇◇————◇
Michael J. Zimmerman
◇◇————◇
Maura A. Markus
◇◇————◇
Michael W. Brown
◇◇————◇
Lisa L. Carnoy
◇◇————◇
Adam T. Berlew
◇◇————◇
Maryam S. Brown
◇◇————◇
James P. Kavanaugh
◇◇————◇
Robert E. Grady, Victor J. Nesi, Ronald J. Kruszewski and Thomas W. Weisel served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Board chair premium◇
Lead independent director premium◇
Audit committee chair◇
Compensation committee chair◇
Nominating and governance chair◇
Equity is delivered as restricted stock units.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Affiliated Managers Group Inc. AMG
  • Ameriprise Financial, Inc. AMP
  • Evercore Inc. EVR
  • Franklin Resources, Inc. BEN
  • Houlihan Lokey, Inc. HLI
  • Invesco Ltd. IVZ
  • Jefferies Financial Group Inc. JEF
  • Lazard Ltd. LAZ
  • LPL Financial Holdings Inc. LPLA
  • Moelis & Company MC
  • Northern Trust Corp. NTRS
  • Piper Sandler Companies PIPR
  • Raymond James Financial, Inc. RJF
  • T. Rowe Price Group, Inc. TROW

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 9, 2026=◇◇◇
2024June 4, 2025=◇◇◇
2023June 5, 2024=◇◇◇
2022June 7, 2023=◇◇◇
2021June 13, 2022=◇◇◇
2020May 26, 2021=◇◇◇
2019May 15, 2020=◇◇◇
2018June 5, 2019=◇◇◇
2016June 6, 2017=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Ronald Kruszewski (Chairman and Chief Executive Officer), FY2025 total compensation $18,908,297 (base salary $200,000) [exec_comp, SEC accession 0001193125-26-191643, filed 2026-04-29]

See a complete sample report

Answered within 24 hours, every figure cited to its SEC filing. This is a one-off report: no refunds.

Tell me when Stifel Financial files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Stifel Financial disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Stifel Financial sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for Peer Group Review
Whether Stifel Financial's disclosed peer group is defensible, who names Stifel Financial back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
324 figures on this page: 315 cited to the filing that reported them, 9 calculated from figures it prints.
315 cited to the filing
9 calculated from the filing

Documents cited

  1. 0001193125-26-263768
  2. 0001193125-26-191643
    CEO PAY RATIO · Grants of Plan-Based Awards · Non-Employee Director Compensation · Outstanding Equity Awards at Fiscal Year-End · and 1 more section
  3. 0001193125-25-134887
  4. 0001193125-24-155123
  5. 0001193125-23-162514
  6. 0001193125-23-127640
    SUMMARY COMPENSATION TABLE
  7. 0001193125-22-172898
  8. 0001193125-21-173578
  9. 0001193125-20-143928
  10. 0001193125-19-166107
  11. 0001193125-17-197091
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Stifel Financial executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/SF (accessed 2026).
Short form: data: Velarion

The paid brief for Stifel Financial

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
$500 for the Executive Compensation Report. Both reports for $900.
Get the executive briefGet the board briefNo account needed.
11 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Stifel Financial and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Asset Management rankings

Chief executive pay — Asset ManagementCEO pay ratio — Asset ManagementSay-on-pay support — Asset Management

Peers Stifel Financial discloses

The companies named in SF's own disclosed peer group.

Affiliated Managers Group Inc.Ameriprise Financial, Inc.Evercore Inc.Franklin Resources, Inc.Houlihan Lokey, Inc.Invesco Ltd.Jefferies Financial Group Inc.Lazard Ltd.LPL Financial Holdings Inc.Moelis & CompanyNorthern Trust Corp.Piper Sandler CompaniesRaymond James Financial, Inc.T. Rowe Price Group, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy