Exhibit 21

Stifel Financial Corp.

List of Subsidiaries

Subsidiary Legal Name*		Jurisdiction of Incorporation
Stifel Financial Corp.		Delaware
	Stifel, Nicolaus & Company, Incorporated	Missouri
	KCP Fund General Partner LLC	Delaware
	Stifel Nicolaus Insurance Agency, Incorporated	Missouri
	Stifel Nicolaus Israel Ltd.	Israel
	Thomas Weisel Capital Management LLC	Delaware
	Thomas Weisel Strategic Opportunities Partners LLC	Delaware
	Stifel Bancorp, Inc.	Missouri
	Stifel Bank & Trust	Missouri
	Stifel Bank Community Development Corporation	Missouri
	Stifel Bank - CDC - 501 N Broadway, Inc.	Missouri
	SBT Investments - REIT, Inc.	Missouri
	SBT REIT, Inc.	Missouri
	Stifel Bank	Missouri
	Stifel Trust Company Delaware, National Association	National Association
	Stifel Trust Company, National Association	National Association
	1919 Investment Counsel, LLC	Maryland
	1919 Services Company, LLC	Delaware
	B&F Capital Markets, LLC	Ohio
	Broadway Air Corp.	Missouri
	EquityCompass Investment Management, LLC	Missouri
	First Empire Holding Corp.	New York
	First Empire Securities, Inc.	New York
	Intyce LLC	Delaware
	KBW, LLC	Delaware
	KBW Ventures, Inc.	Delaware
	Keefe, Bruyette & Woods, Inc.	New York
	KBW Asset Management, Inc.	Delaware
	KBW Research Services, LLC	Delaware
	North Atlantic Capital Management, LLC	Delaware
	Sierra Pacific Securities, LLC	Delaware
	Stifel Access Services, LLC	Delaware
	Stifel Aviation Asset Management, LLC	Delaware
	Stifel Aviation Finance Acquisition, LLC	Delaware
	Stifel Aviation Management, LLC	Delaware
	Stifel Capital Management, LLC	Delaware
	Stifel Europe Advisory GmbH (fka Acxit Capital Holding GmbH)	Germany
	Stifel Europe Holdings Limited	United Kingdom
	Stifel Nicolaus Europe Limited	United Kingdom
	Stifel Europe Bank AG	Germany
	Stifel Schweiz AG	Switzerland

Subsidiary Legal Name*		Jurisdiction of Incorporation
	Stifel Independent Advisors, LLC	Missouri
	Stifel Research Services, LLC	Delaware
	Stifel Spruce Acquisition LLC	Delaware
	Torreya Partners LLC	Delaware
	Torreya Partners India LLP	India
	Stifel Syndicated Credit LLC	Delaware
	Stifel Venture Corp.	Missouri
	Stifel Aviation Opportunities Fund I, LLC	Delaware
	SF Credit Management, LLC	Delaware
	SBT-Jet, LLC	Missouri
	Stifel Nicolaus Canada Inc.	Ontario
	Vining Sparks Interest Rate Products, LLC	Tennessee
	Washington Crossing Advisors, LLC	Delaware

* All subsidiaries of the Registrant do business under their legal name. Indentation indicates the principal parent of each subsidiary.