8-K

               SECURITIES AND EXCHANGE COMMISSION
                     WASHINGTON, D.C. 20549




                            FORM 8-K



                         CURRENT REPORT

             PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934



 Date of Report (Date of Earliest Event Reported):  July 2, 1997



                     STIFEL FINANCIAL CORP.
     (Exact Name of Registrant as specified in its Charter)



      Delaware               1-9305              43-1273600
     (State of          (Commission File        (IRS Employer
   Incorporation)           Number)          Identification No.)



                       500 North Broadway
                 St. Louis, Missouri 63102-2188
  (Address of principal executive offices, including zip code)




                         (314) 342-2000
      (Registrant's telephone number, including area code)

 

Item 5.  Other Event

     On  July  2, 1997, Stifel Financial Corp. (the "Registrant")
announced  that Gregory F. Taylor, Director, President and  Chief
Executive  Officer  of both Stifel Financial  Corp.  and  Stifel,
Nicolaus  &  Company, Incorporated (the Registrant's wholly-owned
broker-dealer subsidiary) will resign effective July 31, 1997.

     A   search  committee  has  been  appointed  to  select  the
successor CEO and will begin its work immediately. In the interim
period,  Stifel  will  be  managed by  its  six-person  Operating
Committee  of  which  Mr.  Lawrence  E.  Somraty  will  serve  as
Chairman.

     Mr. Taylor has other endeavors he would like to explore. The
Board  of  Directors announced that he has agreed  to  serve  the
company, in a consulting relationship.



Item  7.   Financial Statements, Pro Forma Financial  Information
and Exhibits

  (a)   Financial Statements of Businesses Acquired.

        None.

  (b)   Pro Forma Financial Information.

        None.

  (c)   Exhibits.

        Exhibit 99:  Press Release





                            SIGNATURE

     Pursuant to the requirements of the Securities Exchange  Act
of  1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                              STIFEL FINANCIAL CORP.



Date:  July 9, 1997           By:       /s/  Stephen J. Bushmann
                               Name:    Stephen J. Bushmann
                               Title:   Chief Financial Officer

EX-99

                           Exhibit 99

                      Stifel Financial News

                       500 North Broadway
                    St Louis, Missouri 63102
                         (314) 342-2000




     St.  Louis,  Missouri,  July 2, 1997 -  Stifel,  Nicolaus  &
Company,  Incorporated announced today that  Gregory  F.  Taylor,
President and Chief Executive Officer of both Stifel Nicolaus and
Stifel Financial Corp., has resigned effective July 31, 1997.

     A   search  committee  has  been  appointed  to  select  the
successor CEO and will begin its work immediately. In the interim
period,  Stifel  will  be  managed by  its  six-person  Operating
Committee  of  which  Mr.  Lawrence  E.  Somraty  will  serve  as
Chairman.

     Mr.  Taylor  said, "I am very proud of what the Stifel  team
has  accomplished in the last few years, strengthening the firm's
profitability  and positioning us for growth in the  future.  The
current  price  of our stock certainly reflects a  more  suitable
value  for  what we truly are and can become. After spending  the
last  five  years working to restructure the firm,  increase  our
productivity, and resolve litigation, I think it is  time  for  a
change,  both  for  me and the firm.  A new era  deserves  a  new
leader, and I have other endeavors I would like to explore with a
family who deserves to see more of me.

     I  particularly want to thank all those employees of  Stifel
who have labored loyally though the past five years.  The success
we  achieved was a team effort, and I fervently wish for  further
success and rewards for all of you for your unfaltering efforts."

     Mr. Walker stated, "Of course, we regret Greg's decision  to
leave  the  company.  During his tenure,  the  company  has  been
strengthened,  and  I  share his view  that  today  we  are  well
positioned  for the future. The Board of Directors  is  delighted
that  he  has  agreed  to  serve the  company,  in  a  consulting
relationship. We wish him well in whatever he undertakes  in  the
future."