(Bloomberg) — Stifel Financial, the Missouri-based investment bank known for snapping up regional rivals and Wall Street castoffs, agreed to buy Barclays’s U.S. wealth management business.

Barclays had about 180 financial advisors in the U.S. managing $56 billion in total client assets as of May 31, St. Louis-based Stifel said Monday in a statement that didn’t include terms. Barclays had bought the unit with other Lehman Brothers operations in 2008 and was faulted by regulators last year for inadequate internal controls there.

via Stifel to Buy Barclays Wealth Management Unit | IAG Breaking News.