Stifel's broker-dealer unit chose to look within for its new chief investment officer and head of investment strategy, promoting Michael O’Keeffe to the role.

O’Keeffe, who joined the St. Louis-based retail brokerage firm in 2013 as managing director, will now lead the development of investment strategy and investment solutions for Stifel’s Private Client group.

Stifel's new CIO for its broker-dealer unit, Michael O’Keeffe, has been with the firm since 2013.

He will oversee strategy for Stifel’s team of more than 2,200 financial advisors and help helm what has become the seventh largest retail brokerage, in terms of advisors, in the nation.

Like other regional BDs, Stifel has been actively expanding, hiring several advisors managing more than $1 billion in May alone from larger wirehouse competitors. In the past few years, it has also grown to become a nationwide presence operating more than 390 branches across the country. The firm has $270 billion in assets under management.

Prior to joining Stifel, O’Keeffe worked for Merrill Lynch Global Wealth Management as chief investment officer and as head of investment management and guidance.

Kerri Anne Renzulli

Kerri Anne Renzulli is senior editor of Financial Planning, On Wall Street, and Bank Investment Consultant.