Ronald Kruszewski
Born
Ronald James Kruszewski

1958 (age 65–66)
Crumstown, Indiana, U.S.
NationalityAmerican
Alma materIndiana University Bloomington
Occupation(s)Chairman and CEO of Stifel
EmployerStifel
Organizations
Awards

Ronald James Kruszewski is an American business executive. Kruszewski is the chairman, chief executive officer, and former president of Stifel.[1][2] Earlier in his career, he was a Certified Public Accountant and audit supervisor for KPMG, and later a chief financial officer for Robert W. Baird & Co. Kruszewski was appointed to serve on the Federal Advisory Council by the board of the Federal Reserve Bank of St. Louis in 2013. He has served on the boards of the Securities Industry and Financial Markets Association, Saint Louis University, and the St. Louis Regional Chamber, among other organizations. He won the Ernst & Young Entrepreneur of the Year Award in 2007 and was recognized by the Horatio Alger Association of Distinguished Americans in 2019.

Early life and education

Kruszewski was born in Crumstown, Indiana, in 1958.[3] He was the second of four children raised in a blue-collar family. Of Jewish origin, his father was a barber, and later a firefighter and owner of a lawn mowing business, and his mother was a devout Catholic who raised the family at home.[3][4][5] During high school, Kruszewski worked as a busser at his aunt's restaurant, assisted with his father's lawn mowing business, and sold women's shoes.[3] He was the first in his family to attend college, which he funded by mowing lawns and working as a bouncer.[3] He received an accounting and finance degree with honors from Indiana University Bloomington in 1980.[4]

Career

After graduating from university, Kruszewski became a Certified Public Accountant and joined KPMG as an audit supervisor. Wanting to enter the investment banking industry, he relocated to Chicago and started working for Illinois Company Investment as a senior vice president and chief financial officer.[3] He then became chief financial officer of strategic planning for Robert W. Baird & Co. He was mentored by the firm's CEO, Fred Kasten, who later helped him earn the CEO position at Stifel Financial Corporation.[3]

Kruszewski is the current chairman and chief executive officer of Stifel.[6] His tenure began in 1997 when he succeeded George Herbert Walker III; among his first actions was implementing the company's wealth accumulation plan as an employee benefit.[7][8] Since then, the company has grown significantly by completing a series of acquisitions during the 2000s and 2010s.[5][9][10] Kruszewski has voiced his opposition to the United States Department of Labor's proposed fiduciary rules intended to keep investment brokers from providing conflicted advice because of their potential impact to the company's fee structure.[11][12][13]

Kruszewski is the longest serving chief executive of the major banks.[14]

Board service and recognition

Kruszewski was executive chairman of Angelica Corporation and the Downtown St. Louis Partnership.[15] He was appointed to serve on the Federal Advisory Council by the board of the Federal Reserve Bank of St. Louis in late 2013.[16] He was re-appointed in late 2014 and early 2019.[17][18][19] Kruszewski is the chairman of the American Securities Association and Downtown Now!,[20] and serves as a board member of Concordance Academy,[21][22] the Securities Industry and Financial Markets Association,[23] and the St. Louis Regional Chamber.[24][25] He is currently on the board of trustees for Saint Louis University and the U.S. Ski and Snowboard Team Foundation.[24][26] He is a member of St. Louis' Regional Business Council and the local chapter of the World Presidents' Organization.[24]

Kruszewski received an Ernst & Young Entrepreneur of the Year Award in the financial services category in 2007.[27][28] In 2008, St. Louis Magazine credited him for helping the city, The Cordish Companies, and St. Louis Cardinals president Bill DeWitt III come to an agreement to fund St. Louis Ballpark Village.[29] Kruszewski appeared on the cover of St. Louis Commerce Magazine alongside three other executives in 2011.[30]

In 2019, he was one of 13 recipients of the Horatio Alger Award, an honor presented by the Horatio Alger Association of Distinguished Americans to recognize the achievements of outstanding Americans who have succeeded in spite of adversity.[4][6]

Personal life

In 2012, Kruszewski won the Dancing with the St. Louis Stars competition, a benefit for the Independence Center sponsored by Stifel.[31][32] He served as a judge for the 2013 competition.[33][34]

See also

References

  1. ↑ Brown, Lisa (June 11, 2014). "Stifel creates new office of president". St. Louis Post-Dispatch. Retrieved June 12, 2019.
  2. ↑ Edwards, Greg (June 11, 2014). "Stifel's Kruszewski gives up one of his titles". St. Louis Business Journal. Retrieved June 12, 2019.
  3. 1 2 3 4 5 6 "Ronald J. Kruszewski". Horatio Alger Association of Distinguished Americans. Retrieved June 12, 2019.
  4. 1 2 3 Edwards, Greg (December 11, 2018). "Stifel's Kruszewski named 2019 Horatio Alger winner". St. Louis Business Journal. American City Business Journals. Retrieved June 12, 2019.
  5. 1 2 LaCapra, Lauren Tara; Toonkel, Jessica (May 29, 2015). "Exclusive: Stifel in lead to buy Barclays' U.S. wealth unit – sources". Retrieved June 12, 2019.
  6. 1 2 "Stifel's Ron Kruszewski wins Horatio Alger Award". St. Louis Post-Dispatch. December 11, 2018. Retrieved June 12, 2019.
  7. ↑ Cooperman, Jeannette (July 25, 2006). "Stepping Out of the Shadow". St. Louis Magazine. Retrieved June 12, 2019.
  8. ↑ Edwards, Greg (April 24, 2015). "St. Louis' Stifel millionaires: 'I just kept buying the stock'". St. Louis Business Journal. Retrieved July 28, 2019. ...Kruszewski started the Stifel Wealth Accumulation Plan when he arrived in 1997, putting 5 percent to 15 percent of employee bonuses in Stifel stock, with a 5 percent company match.
  9. ↑ Horowitz, Jed (December 21, 2012). "Stifel CEO again bucks the trend in buying a workout firm". Chicago Tribune. Retrieved June 12, 2019.
  10. ↑ Edwards, Greg (November 23, 2018). "What Stifel has been buying". St. Louis Business Journal. Retrieved June 12, 2019.
  11. ↑ Ebeling, Ashlea (August 14, 2015). "Brokers V. Robo Advisors: DOL Fiduciary Hearings Wrap Up". Forbes. Retrieved July 28, 2019.
  12. ↑ Nicklaus, David (August 4, 2017). "Nicklaus: Stifel CEO offers compromise on fiduciary rule". St. Louis Post-Dispatch. Retrieved July 28, 2019.
  13. ↑ "Transcript of Proceedings" (PDF). United States Department of Labor. August 13, 2015. pp. 1, 067–1, 076. Retrieved July 28, 2019.
  14. ↑ Sozzi, Brian (April 4, 2018). "Stifel CEO: What the Next 20 Years Looks Like for Wall Street". TheStreet.com. Retrieved July 10, 2019.
  15. ↑ "Schedule 14A". U.S. Securities and Exchange Commission. April 26, 2013. Retrieved July 28, 2019.
  16. ↑ Edwards, Greg (December 16, 2013). "Stifel's Kruszewksi joins Federal Advisory Council". St. Louis Business Journal. Retrieved June 12, 2019.
  17. ↑ Edwards, Greg (December 29, 2014). "Kruszewski reappointed to Fed's Advisory Council". St. Louis Business Journal. Retrieved June 12, 2019.
  18. ↑ "People in Business". St. Louis Post-Dispatch. February 8, 2019. Retrieved July 28, 2019.
  19. ↑ "Ronald J. Kruszewski Reappointed to Federal Advisory Council". Federal Reserve Bank of St. Louis. January 9, 2019. Retrieved June 12, 2019.
  20. ↑ White, Ben (September 12, 2018). "Gary Cohn's non-denial denial". Politico. Retrieved June 12, 2019.
  21. ↑ Stahlman, Stacey (December 14, 2015). "Board News". Ladue News. Retrieved July 10, 2019.
  22. ↑ "Board of Directors". Concordance Academy. Retrieved June 12, 2019.
  23. ↑ "Ronald J. Kruszewski". Securities Industry and Financial Markets Association. Retrieved June 12, 2019.
  24. 1 2 3 "Leadership". American Securities Association. Retrieved June 12, 2019.
  25. ↑ "Board of Directors". St. Louis Regional Chamber. Retrieved June 12, 2019.
  26. ↑ "Board of Trustees". Saint Louis University. Retrieved June 12, 2019.
  27. ↑ "Local Entrepreneur of the Year winners announced". St. Louis Business Journal. July 6, 2007. Retrieved July 28, 2019.
  28. ↑ "Kruszewski named E&Y Entrepreneur of the Year". St. Louis Business Journal. November 19, 2007. Retrieved July 28, 2019.
  29. ↑ Bauer, Margaret; Cooperman, Jeannette; Gay, Malcolm; Hollerbach, Bryan A.; Marshall, Christy; Medlin, Jarrett; Russell, Stefene; Schenkenberg, Stephen (October 29, 2008). "Power '08". St. Louis Magazine. Retrieved June 12, 2019.
  30. ↑ "Jim Weddle '75 Featured in St. Louis Commerce Magazine". DePauw University. January 30, 2011. Retrieved June 12, 2019.
  31. ↑ Graesser, Laura (November 29, 2012). "Independence Center: Shall We Dance?". Ladue News. Retrieved July 28, 2019.
  32. ↑ Edwards, Greg (January 20, 2012). "Video: Watch Stifel's Ron K. dance the hokey pokey. Really". St. Louis Business Journal. Retrieved June 12, 2019.
  33. ↑ Chumley, Amanda (January 30, 2013). "Dancing with the St. Louis Stars 2013: And The Winner Is..." St. Louis Magazine. Retrieved June 12, 2019.
  34. ↑ Holleman, Joe (February 6, 2013). "STL 'celeb' hoofers cut rug for charity". St. Louis Post-Dispatch. Retrieved June 12, 2019.

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