ronald j. kruszewski yacht

A conversation with Stifel CEO Ron Kruszewski

The St. Louis financial leader on life lessons, AI, and downtown's future

by Mike Miller

February 16, 2024

Photography by Kevin A. Roberts

🎧 Hear more from Kruszewski on The BizSTL Podcast .

In 1997, Ron Kruszewski arrived in St. Louis to start a new job. Stifel was still a small firm at the time, but as the organization’s new CEO, Kruszewski was determined to pilot the company into the new millennium and help it reach its full potential in a rapidly changing world. More than two decades later, Kruszewski's tenure has proven to be a success story. In nearly 27 years at the helm, Kruszewski—he’s believed to be the longest-tenured current CEO in the wealth management industry—has turned a company of approximately 700 associates generating $100 million in revenue into a massive firm of roughly 10,000 associates producing nearly $5 billion in revenue. “To grow a company,” Kruszewski says, “you need to lead by letting people be the best they can be. I get a lot of credit for being CEO, but I stand on the shoulders of 10,000 people who are very good at what they do. When you recognize that it isn't about you, that pays dividends.”

Who is a mentor that made a meaningful impact on your career?

A gentleman by the name of Fred Cast. He taught me to treat people right. After you've been at Stifel for a year, I won't know what school you went to or your grade point average. I won't even know what your IQ is. What I will know is whether you're a good team player and whether you get along and treat people right. That's what Fred taught me and what I try to teach people today.

Can you share a specific example of a teachable moment from your time with Fred?

I was the kind of young man who could get most things done. Unfortunately, it'd be like playing football, but I would tackle my own teammates. I'd get things done, but I'd look back, and the carnage on the field would be extensive. In one particular case, back in the 1990s, we were doing a big conversion, and we got it done, but I really trampled over a lot of people. I remember him pulling me aside and saying, “Look, it isn't just necessarily getting to the finish line. It's how you get there.” I'll never forget that.

It seems like learning soft skills was something that was key to your career growth.

I try to tell people that we can measure IQ. But EQ —your ability to relate to people—is so important in any business and any relationship.

Over the years, Stifel has made noticeable investments in downtown St. Louis. Why was that important to you?

I moved here in 1997 and had the thought that any community—any city—needs to have a strong urban core. So we have been a proponent for downtown. I've had many opportunities to move from downtown, but we've said no. We believe in downtown. We own our building on Broadway and Washington, and that's important.

There are all sorts of ideas for how to reinvent downtown. From your view, how do we capitalize on those kinds of opportunities to create a more welcoming downtown that better serves more people?

First of all, the future has to be bright. That's my view on everything. You have to be optimistic. So I don't like to think about a city in decline. However, in many ways, downtown St. Louis has been in decline. But I'm encouraged by the investment that's occurring now. I think of Bob O'Loughlin putting in the St. Louis Aquarium and all of the investments that he's made in Union Station. Obviously, the Cardinals and what they've done. You have the Taylor family bringing soccer. All of those things are important. What we really need to do is make downtown safe, so that people who live in the suburbs are comfortable coming downtown for a good meal and for some fun things to do. On that front, we have a little bit of work to do.

It feels like St. Louis is something of a financial services hub, with so many organizations of varying sizes occupying a presence here. Are there any benefits to that kind of synergy?

I would say it's the opposite: We benefit from the workforce in St. Louis. Many people don't know this, but back around the 1960s, the No. 2 city to New York, in terms of financial services, investment banking, and brokerage, was St. Louis. Today, you have some great companies: Edward Jones, Wells Fargo Advisors, Stifel, and Benjamin F. Edwards. That's created a very experienced workforce of people who understand our business. So there's a huge advantage in running a financial services firm like Stifel in St. Louis.

What's one trend in the financial sector that you're watching in 2024?

Everyone's talking about artificial intelligence. History has a way of repeating itself. When I got out of school, in 1981, the inflation rate was 12 percent, unemployment was 12 percent, and interest rates were 15 percent. It was a crazy time to get into business. The new thing then was the computer. I got ahead by being very proficient at the computer as a young person. The young people coming into business today should be proficient at large language models and AI. I tell everyone, “Whether you're young or have been in business for years, you will not lose your job to AI. Play around with something like ChatGPT, and you will see the potential. It's not to replace human beings but to enhance them and their productivity through a very effective tool.”

Ron's Favorite Things

Morning Routine: I'm a person who doesn't need a lot of sleep. I tend to go to bed around 1 a.m. and wake up at 7 a.m. I work out a little bit, take a steam, and have a coffee. I love newspapers. I like the Wall Street Journal in paper form, so I'm a little old school. I like to get to the office a little bit later, because I stay up later. That's the routine. Nothing too intense.

Restaurant: People who know me know that they can usually find me at Café Napoli in the summers at a corner table.

Dream golf foursome: I would really like to play golf with Thomas Jefferson. Jack Nicklaus would be fabulous, and I'd have to really think about the third. That's pretty tall cotton right there.

Little-known fact about you: Most people think I'm an extrovert. They see me at various events where I'll pick up the microphone, and I have no problem talking on television. But I'm more of an introvert than people realize. People who know me will say, “You're much quieter than you appear.”

Must read: The End of the World Is Just the Beginning: Mapping the Collapse of Globalization by Peter Zeihan. It talks about what’s going on in the world, including the change in world order since 1945. It’s very interesting to put that perspective to what’s happening in the world today, with Russia in Ukraine, and China, Iran, and all of the countries that are really trying to upset the world order. Another good book is Outlive: The Science and Art of Longevity by Peter Attia. It talks about how you can do certain things to increase your longevity. 

Lifehack: I don't sweat the small stuff. That can really help your entire perspective on life. There's the old saying,“Life is 10 percent what happens to you and 90 percent how you react to it.” So don't overreact to things. Most people mean well. When I start to get stressed, I'll just tell myself to not sweat the small stuff. It works every time.

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Sicily yacht sinking: Who are the missing and rescued?

A search operation is continuing off the coast of Sicily after the British-flagged luxury yacht Bayesian sank during freak weather early on Monday morning.

Fifteen of the 22 people who were on board were rescued from the boat.

Seven people went missing - and of them, six of their bodies had been recovered by Thursday. Divers are continuing to search for the last person.

British businessman Mike Lynch was among those whose bodies were found, a source close to the family told the BBC, as was Recaldo Thomas - the yacht's chef.

Recaldo Thomas, chef

The body of a man recovered near the Bayesian yacht on Monday was swiftly reported to be that of Recaldo Thomas, a Canadian-Antiguan chef who was working on the boat.

His friends have been paying tribute to him. Gareth Williams, who lives in Antigua, knew Thomas for 30 years.

"I can talk for everyone that knew him when I say he was a well-loved, kind human being with a calm spirit," he told the BBC.

The two grew up together in Antigua, where Thomas spent his time during off-season.

"He would come over to mine over the weekend and he would sing. He had the deepest, most sultry voice in the world, and a smile that lit up the room.

"He told me just the other day that he needed to work two more seasons to fix up his late parents' house. He loved yachting, but he was tired."

Mike Lynch, UK tech entrepreneur

While five more bodies have now been recovered from the vessel, just one - Mr Lynch's - has so far been identified.

Mr Lynch was a tech entrepreneur, once regarded by some as “Britain’s Bill Gates”.

Raised in Essex, he went on to study at the University of Cambridge, before co-founding software company Autonomy in 1996.

The 59-year-old made his riches by selling the company to US tech giant Hewlett-Packard in 2011 for $11bn (£8.6bn).

Mr Lynch became embroiled in a decade-long legal battle following the acquisition. He was acquitted in the US in June on multiple fraud charges, over which he had been facing two decades in jail.

Several people on the boat were involved in his recent trial and there have been reports that the yacht trip was a celebration of Mr Lynch’s acquittal.

Andrew Kanter, a close friend and colleague of Mr Lynch, remembered him as "the most brilliant mind and caring person I have ever known".

Who is British tech tycoon Mike Lynch?

Who is missing.

The bodies of four others have been brought to shore but their identities have not yet been confirmed.

Divers are also still looking for another person.

Hannah Lynch, student

Mr Lynch was travelling with his daughter Hannah. A source close to the family told the BBC on Thursday that she was the person still missing.

The 18-year-old is reportedly the younger of Mr Lynch's two daughters.

She had just completed her A-levels and secured a place to read English at Oxford University, according to the Times .

Chris Morvillo, lawyer

Chris Morvillo is a lawyer who represented Mr Lynch in his US trial. Since 2011, he has been a partner at the Clifford Chance law firm in New York.

His biography on the firm’s website says that he served as assistant attorney for the southern district of New York from 1999 to 2005.

During his tenure, he worked on the criminal investigation surrounding the 2001 attacks on the World Trade Center.

Neda Morvillo, jewellery designer

American jewellery designer Neda Morvillo, wife of Mr Morvillo, is also unaccounted for.

Mr Morvillo's employer, Clifford Chance, confirmed the news.

In a statement, a spokesperson for the law firm said: "We are in shock and deeply saddened by this tragic incident."

Ms Morvillo designs jewellery under the name Neda Nassiri. Her website says she "has been designing and hand-crafting fine jewelry in New York City for over 20 years".

Jonathan Bloomer, banker

Jonathan Bloomer is the chairman of the Morgan Stanley International bank and insurance company Hiscox.

The 70-year-old Briton was educated at Imperial College London and has previously served on a number of company boards.

Mr Bloomer appeared at trial as a defence witness for Mr Lynch, according to the the Financial Times. Media reports suggest the pair are close friends.

Mr Bloomer's twin brother, Jeremy, told the BBC he felt numb and his family were "coping the best we can" as rescue workers continued to search for his sibling.

“He was my elder by half an hour, so, it means a lot when you lose a twin brother. We’ll still wait and see, so it’s fingers crossed," he said.

He added: “It’s a slow process, and it will take time. There might be air pockets but we don’t know.”

Aki Hussain, group chief executive of Hiscox, which Mr Bloomer has chaired since 2023, said: "We are deeply shocked and saddened by this tragic event.

"Our thoughts are with all those affected, in particular our chair, Jonathan Bloomer, and his wife Judy, who are among the missing.”

Family await news of man on sunken luxury yacht

Judy bloomer, charity trustee and supporter.

Judy, the wife of Jonathan Bloomer, is also among those unaccounted for.

Ms Bloomer is listed as a former director of property developer Change Real Estate along with her husband.

She has been called a "brilliant champion for women's health" by a charity she has worked closely with.

Ms Bloomer has been a trustee and supporter of gynaecological cancer research charity the Eve Appeal for more than 20 years.

The charity's chief executive, Athena Lamnisos, said she was "deeply shocked to hear the news that our very dear friend and her husband Jonathan, are among those missing".

"Our thoughts are with Judy and Jonathan’s family, as well as all those who are still waiting for news after this tragic event," she added in a statement.

• Follow live updates here
• 'For two seconds I lost my baby in the sea' - yacht survivor

How sinking of luxury yacht off Sicily unfolded

• What might have caused yacht to sink
• Divers battle 10-minute dive window and debris in yacht search

Who has been rescued?

Among the 15 people who were rescued are nine members of the yacht's crew.

This means every member of the crew is accounted for minus the chef, who local authorities say has died.

Eight of the 15 who were rescued have been taken to hospital.

Dr Fabio Genco, who was part of the local emergency medical service that treated the survivors, said all of them had been discharged from hospital by Tuesday.

A British mother, named locally as Charlotte Golunski, was travelling on the yacht with her partner and baby girl. All three were rescued from the boat.

In an interview, she described holding her infant daughter above the surface of the sea to save her from drowning.

Ms Golunski is a partner at Mr Lynch’s company, Invoke Capital, where she has worked since 2012, according to her LinkedIn profile.

The Times has reported that she has previously worked for Autonomy, the company at the centre of Mr Lynch's recent court case.

Another lawyer, Ayla Ronald, was also rescued along with her partner.

The New Zealand national works for Clifford Chance, where Mr Morvillo is a partner, and was part of Mr Lynch's legal team for his June trial.

Her father told the Telegraph that she was "invited to go sailing as a result of the success in the recent United States court case".

Angela Bacares, Mr Lynch's wife and Hannah Lynch's mother, is also among those who have been rescued.

On Monday, Ms Bacares was using a wheelchair after suffering ­abrasions on her feet, according to the newspaper La Repubblica.

'For two seconds I lost my baby in the sea' - Sicily yacht survivor

Missing tycoon's co-defendant fatally struck by car.

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Ronald J. Kruszewski

Chairman of the Board and Chief Executive Officer, Stifel Financial Corp.

Saint Louis

Ronald J. Kruszewski is Chairman of the Board and Chief Executive Officer of Stifel Financial Corp. and its principal subsidiary, Stifel, Nicolaus & Company, Incorporated. He joined the firm as Chief Executive Officer in 1997 and was named Chairman in 2001.

Mr. Kruszewski currently serves as Vice Chair of the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA). He previously served as Chairman of the American Securities Association (ASA) from 2019 through 2021 and on the Federal Advisory Council of the St. Louis Federal Reserve Board of Directors from 2014 through 2019. Additionally, he serves on the Board of Directors for FutureFuel Corp. and on the Board of Trustees for Saint Louis University and the U.S. Ski and Snowboard Team Foundation. He is a graduate of Indiana University.

Active in community affairs, Mr. Kruszewski serves as a member of the Chair’s Council for Greater St. Louis Inc. He is also past Chairman of the Board of Directors of Downtown STL, Inc. and past non-executive Chairman of the Board of Directors of Angelica Corporation. In addition, he is a member of the St. Louis Chapter of the World Presidents’ Organization, and under Mr. Kruszewski’s leadership, Stifel became a member of the World Economic Forum in 2023. In 2019, Mr. Kruszewski won the Horatio Alger Award and was selected for membership in the Horatio Alger Association of Distinguished Americans, which honors individuals who have overcome adversity to achieve success and who have demonstrated commitment to higher education and charitable endeavors. In 2024, he was elected to the Horatio Alger Association’s Board of Directors.

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Who Was on the Sunken Yacht? Tech Mogul Mike Lynch, His Family and Friends.

Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.

• Share full article

By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch , who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.

Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 people aboard, 15 were rescued and seven others died . Search operations ended on Friday after the final body was recovered from the site of the sunken yacht .

Here’s what we know about the passengers.

Mike Lynch and his family

Mr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.

In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.

HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.

Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.

An official in Palermo, Sicily’s capital, said on Thursday that Mr. Lynch’s body had been recovered. His wife, Angela Bacares, 57, accompanied him on the yacht, and she was rescued on Monday when it sank. She was a consistent presence at his trial in the United States. Records show that she controlled Revtom, the company listed as the owner of the Bayesian.

The body of Hannah Lynch , Mr. Lynch and Ms. Bacares’s 18-year-old daughter, was thought to be recovered on Friday.

The other guests

Jonathan Bloomer, 70, chair of Morgan Stanley’s international arm and the chairman of Hiscox, an insurance provider that trades on the London Stock Exchange, was on the yacht when it sank, along with his wife, Judy Bloomer, 71. Their bodies are thought to be among those recovered, but Italian authorities have not identified them.

Christopher J. Morvillo, 59, a New York-based partner at the international law firm Clifford Chance, was also on the yacht. A former federal prosecutor who comes from a family of prominent lawyers, Mr. Morvillo represented Mr. Lynch during his criminal trial in San Francisco. His wife, Neda, 57, was with him on the yacht. Their bodies are also assumed to be among those recovered.

“We are in shock and deeply saddened by this tragic incident,” a representative of Clifford Chance said in a statement.

Surviving passengers rescued from the yacht include Charlotte Golunski, a partner at Mr. Lynch’s venture firm, Invoke Capital; Ms. Golunski’s husband, James Emslie; and their one-year-old daughter Sophie. Also rescued were Ayla Ronald, a lawyer at Clifford Chance, and her partner, Matthew Fletcher.

The yacht had a crew of 10, and nine were rescued. The body of the chef, Recaldo Thomas, was recovered from the water, the Sicilian Civil Protection Department said.

Elisabetta Povoledo contributed reporting, and Kitty Bennett and Susan Campbell Beachy contributed research.

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced

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An attorney who helped acquit missing tech tycoon Mike Lynch among those feared dead in superyacht disaster

• A yacht belonging to British tech executive Mike Lynch sunk off the coast of Sicily.
• Christopher Morvillo, who helped Lynch win acquittal at a recent trial, and his wife are missing.
• Morvillo, a former federal prosecutor, worked on high-profile corruption cases.

Among those missing and feared dead in the aftermath of the sinking of "Bayesian," a sailing yacht linked to British technology magnate Mike Lynch , are Lynch's attorney Christopher Morvillo and Morvillo's wife, according to a colleague. Lynch was reportedly on a cruise with friends and coworkers, including Morvillo, to celebrate his acquittal after facing prosecution for financial fraud related to the sale of his company Autonomy to Hewlett-Packard in 2011. Lynch and his 18-year-old daughter, as well as two others, are still missing.

Gary Lincenberg, an attorney who represented Lynch's co-defendant Stephen Chamberlain in the high-profile fraud case that recently ended with the acquittal of both men, said Morvillo and his wife "are presumed to be passed away" after the yacht went down near Sicily.

He said the news came shortly after he learned that Lynch's codefendant Chamberlain was killed, struck by a car while jogging on Saturday.

"In the course of 48 hours, I can't process what has happened, but both of our clients, as well as Chris and his wife, are gone," Lincenberg told Business Insider.

Lincenberg said in a follow-up email that Chamberlain "was a courageous man with unparalleled integrity" and that his acquittal preserved his good name, which would live on through his family.

Morvillo's law firm, Clifford Chance, didn't immediately reply to a comment request on Monday. One of Morvillo's family members declined to comment.

Before going into private practice, Morvillo was a federal prosecutor in Manhattan until 2005. He worked on several high-profile corruption cases and comes from a family of well-known New York white-collar attorneys.

Another attorney at the firm, Ayla Ronald, is reportedly among those who survived the yacht's sinking.

Watch: One year after Titan tragedy, another billionaire wants to prove deep-sea exploration is safe

• Main content

Ronald J. Kruszewski

• Chairman and Chief Executive Officer Stifel

Be passionate about your views, but listen with empathy.

Ronald "Ron" Kruszewski was born in 1958 in an unincorporated part of South Bend, Indiana, called Crumbstown. He is the second of four children, all born in succeeding years. "My dad was a barber when I was little," says Ron. "We used to play a game at school where you would put the chalkboard eraser on top of your head and see who could run around the longest before it fell off. I always won because I had the best flattop in town, compliments of my father."

As Ron grew up, his father took on other jobs. He became a fireman, and then had a lawn-mowing service. In wintertime, he plowed snow. "I remember getting up before sunrise so that I could ride in the truck with him as he plowed," says Ron. "It seems to me my dad worked all the time. I guess I got my strong work ethic from him. I have always appreciated how hard he worked to take care of our family."

Ron's mother provided emotional stability. A devout Catholic, one of Ron's earliest memories is seeing his mother crying when it was announced on the television that President Kennedy had been assassinated.

"I was raised in a simpler time," says Ron. "I had what was considered a very traditional upbringing, with the dad who worked and the mom who stayed home to take care of the family. They taught us to behave, to be honest, and to value good character. Friends and family were very important. My grandfather lived two doors down from us, and my aunt and cousins were within walking distance. It felt safe and secure."

One incident in Ron's childhood has always stayed with him. To save money, his mother often bought her children's school clothes from other mothers in the neighborhood. At school one day, a boy came up to Ron and made fun of him because he was wearing his old shirt. "I will never forget how that made me feel, which wasn't inferior," says Ron. "Well, maybe for five minutes it was. But I think it really demonstrated to me the importance of how we treat each other. It definitely upped my empathy quotient going forward."

Education, especially higher education, was not something that was greatly emphasized in Ron's family. He and his older brother slept in the basement of their home, and he recalls talking to his brother in the dark, telling him that one day he was going to make $100,000 a year. "My brother, who ended up serving in the Navy like my dad, just laughed at me. What I think I was trying to express in those talks was that I wanted a bigger life. At that point in time, the only way I knew to define a different path was in monetary terms."

In high school, Ron put forth little effort in his classes. He passed his courses but never did homework. His teachers told him he had great potential if he would apply himself more to his studies, but, at that age, he didn't really see the point. He spent much of his time working for his father's lawn-cutting service, bussing tables at his aunt's restaurant, and selling women's shoes. During his senior year, he decided he would attend Indiana University, making him the first in his family to go to college.

Once he was paying for his own education, working as a bouncer in a bar, Ron got serious about his grades. He went from being a C student to achieving straight A's. He majored in accounting and finance and graduated in 1980 Phi Beta Kappa. He took and passed the exam to be a certified public accountant and immediately joined KPMG Peat Marwick as an audit supervisor.

"I quickly realized that was not the job for me," says Ron. "As an auditor, you spend your time looking backward at last year's results. I am more inclined to figure out where things are going. While I didn't like my job, I excelled at it. I could have stayed and made good money, but I didn't want to remain in a career that didn't inspire me."

Ron wanted to get into investment banking, but soon discovered it was a tough industry to infiltrate without a personal connection. "In those days," he explains, "where you went to school was very important. It was like a club I was not allowed to join. I interviewed a lot, but no one would hire me."

Eventually, with the help of a client, he was able to join a small investment company, Illinois Company Investment, as a senior vice president and chief financial officer. He moved to Chicago, married, and started a family. Shortly before his second son was born, his company was sold to Household Finance. When he returned from taking some family leave, he was informed of a new corporate strategy. "I didn't agree with the direction they wanted to take," says Ron, "and I told them bluntly they were making a mistake. When I was called into my boss's office, I thought I was going to get a promotion because I saved the company from disaster. Instead, I was fired. Ultimately my position was correct, and the company eventually went bankrupt, but I wish I could have found a way to get my point across without shooting myself in the foot. My next job is where I learned how to up my social/emotional IQ."

Ron joined Robert W. Baird & Company as the chief financial officer of strategic planning. The firm's CEO, Fred Cast, served as an important mentor to Ron. "I came to realize that while I was very capable in my work, my emotional IQ was too low," he says. "I used to hear that I was like an All-American football player, except I tackled my teammates. I had to learn how to lead without browbeating and how to disagree with ideas without being dismissive. I was a very productive worker, but I was terrible at leading. Fred Cast taught me about that side of teamwork to accomplish goals, and I will always be grateful to him for that important lesson."

In 1997, Fred Cast was influential in helping Ron land the CEO position at a small investment company, Stifel Financial Corporation in St. Louis, Missouri. Ron clearly remembers that when he walked into the Stifel building, he wrote down his strategic plan, stating, "My success will have very little to do with me and a lot to do with how many people I can get to believe in what we are doing." By then, he had dramatically changed his attitude. "I had learned that there is no '˜I' in the word team," he says. "I had come to realize that strong people skills make us more effective, and I knew that getting the team to work cohesively was critical."

Ron's plan for Stifel was successful. Under his leadership, the company has gone from $100 million in revenues in a $26 million market cap to $3 billion in revenues in a $4 billion market cap and has increased its number of employees from 600 to 8,000. "I'm the CEO, so I get a lot of credit for our amazing growth," says Ron, "but it would have been impossible if not for a collective effort. In the end, it comes down to a way of looking at the Golden Rule, which says to treat others the way YOU want to be treated. I turn it around a bit and say we should treat others the way THEY want to be treated. It's never too late to learn this lesson."

When asked to define success, Ron says that his perspective on what that is has changed over the years. "When I was a kid talking to my brother about all the money I was going to make, I thought that's all I would ever need to be happy. But I was wrong. I believe that if you work hard, following the Golden Rule, and are fair in your dealings, then you will be successful. A byproduct of that is financial stability. I also think it's important to find a work/life balance."

Ron carries a card in his wallet that says, "Life is 10 percent what happens to me and 90 percent how I react to it." Having a positive attitude, he believes, has been vital to his success. "It's all in how you look at things," he says. "Rather than viewing yourself as a victim when bad things happen, it's more positive to see what you can learn from the experience, and then move on."

Humbled to be receiving the Horatio Alger Award, Ron says, "It is a special award because it celebrates hard work and entrepreneurship, which is important, but the Association balances that with having empathy for those who are working hard to advance themselves. It aligns perfectly with my own ideas of what is important and gives the membership an opportunity to reach back with a helping hand to the younger generation. It isn't just philanthropy; it's also empathy. It's not just what you can give; it's the difference your presence can make."

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• Ronald Kruszewski

Chief Executive Officer at STIFEL FINANCIAL CORP.

Net worth: 119 M $ as of 2024-07-30

Mr. Ronald J. Kruszewski is a Chairman & Chief Executive Officer at Stifel Financial Corp., at Stifel, Nicolaus & Co., Inc., a Chairman, President, Chief Executive Officer & Director at Stifel Nicolaus & Co., Inc., a Chairman at Downtown Now!, a Member at St. Louis Chapter of World Presidents Organization, at The Regional Business Council and at Young Presidents' Organization (St. Louis). Mr. Kruszewski was previously employed as a Non-Executive Chairman by RFID Corp., a Chairman by Century Securities Associates, Inc., by Downtown STL, Inc., a Managing Director by Robert W. Baird & Co., Inc., a Chief Financial Officer & Managing Director by Baird Financial Corp., a Member by The Horatio Alger Association of Distinguished Americans, and by Young Presidents' Organization, Inc. He received his undergraduate degree from Indiana University.

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Futurefuel announces ceo transition and appointment of two directors.

CLAYTON, Mo., July 11, 2022 (GLOBE NEWSWIRE) -- FutureFuel Corp. (NYSE: FF) (“FutureFuel” or the “Company”), a manufacturer of custom and performance chemicals and biofuels, announced today that Paul A. Novelly (“Tony Novelly”) has informed FutureFuel’s Board of Directors that he will step down from his position as Chief Executive Officer of the Company effective July 31, 2022. Mr. Novelly will continue as Chairman of FutureFuel’s Board of Directors.   Tony Novelly has served as Chairman of the Board since the Company’s inception in 2005 and as its Chief Executive Officer since 2013. The Company also announced today the appointment to its Board of Paul Anthony Novelly, II (“P.A. Novelly”) and Ronald J. Kruszewski.

CEO Transition - Thomas McKinlay to Serve as New Chief Executive Officer

FutureFuel’s Board has named Thomas McKinlay, the Company’s Chief Operating Officer, to succeed Tony Novelly as Chief Executive Officer effective on Tony Novelly’s retirement.

“It has been a privilege to serve as CEO of FutureFuel for the past nine years and to work with so many excellent people at the Company,” said Tony Novelly. “I am very proud of everything we have accomplished together over the course of my tenure. I’m confident that I am leaving the Company’s executive group in very capable hands. Tom McKinlay has proven himself to be an indispensable leader over the past five years, and I strongly believe that his qualifications and experience uniquely position him to be FutureFuel’s next CEO. I also look forward to continuing to contribute to the Company in my role as Chairman of the Board.”

“On behalf of the entire Future Fuel team, I would like to thank Tony Novelly for his many years of dedicated leadership as Chief Executive Officer,” said Mr. McKinlay. “His industry experience, skills and expertise, along with his knowledge of our operations and strategies, have been invaluable assets to our business. And, I anticipate I will continue to work closely with Tony in his role as Chairman of the Board as we continue to position the Company to capitalize on opportunities for future growth.”

Mr. McKinlay has served as FutureFuel’s Chief Operating Officer since January 2017. He is a Chemical Engineer and business operations executive with over 30 years of global experience in the oil and gas industry. Prior to his joining FutureFuel, Mr. McKinlay was the owner and president of Gilrita Consulting Limited, a U.K.-based independent downstream consultancy firm. He was also Executive Vice President of Murphy Oil Corporation for more than three years, a position which incorporated the role of Managing Director of Murco Petroleum Limited, a U.K.-based oil refining company.

Addition of Two New Directors

The Company also announced today the appointment of P.A. Novelly and Ronald J. Kruszewski to its Board of Directors.

P.A. Novelly, 55, is Chief Executive Officer of Apex Oil Company, Inc., a privately held company based in St. Louis, Missouri, which together with its affiliates is engaged in trading, storage, marketing, and transportation of petroleum products, including liquid terminal facilities in the Midwest and Eastern United States, and towboat and barge operations on the inland waterway system. He also serves as a director of Apex Oil Company Charitable Foundation. P.A. Novelly has reported that, in various a capacities, he may be deemed to share beneficial ownership of common stock representing 39.9% of the Company’s outstanding shares. P.A. Novelly is the son of Tony Novelly.

Ronald J. Kruszewski, 63, is Chairman of the Board and Chief Executive Officer of Stifel Financial Corp., a New York Stock Exchange-listed investment firm with multi-national operations. He joined Stifel as Chief Executive Officer in 1997 and was named Chairman in 2001. Mr. Kruszewski also is the current Chairman of the American Securities Association (ASA) and serves on the Board of Directors of the Securities Industry and Financial Markets Association (SIFMA). From 2014 to 2019, he served on the Federal Advisory Council of the Board of Directors of the Federal Reserve Bank of St. Louis. Additionally, he serves on the Board of Trustees of Saint Louis University and the U.S. Ski and Snowboard Team Foundation.

“On behalf of the entire Board, I am pleased to welcome P.A. and Ron as directors, reflecting our ongoing focus on making sure FutureFuel’s corporate governance is aligned to maximize the potential of the business to grow shareholder value. We know they will bring valuable leadership and perspectives to our Board,” said Tony Novelly.

About FutureFuel

FutureFuel is a leading manufacturer of diversified chemical products, specialty chemical products, and biofuel products. In its chemicals business, FutureFuel manufactures specialty chemicals for specific customers (“custom chemicals”), as well as multi-customer specialty chemicals (“performance chemicals”). FutureFuel's custom chemicals product portfolio includes proprietary intermediates for major chemical companies and chlorinated polyolefin adhesion promoters and antioxidant precursors for a major chemical company. FutureFuel’s performance chemicals product portfolio includes polymer (nylon) modifiers and several small-volume specialty chemicals for diverse applications. FutureFuel’s biofuels segment primarily produces and sells biodiesel. Please visit www.futurefuelcorporation.com for more information.

Forward- Looking Statements

This document contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements deal with FutureFuel’s current plans, intentions, beliefs, and expectations, and statements of future economic performance. Statements containing such terms as “believe,” “do not believe,” “plan,” “expect,” “intend,” “estimate,” “anticipate,” and other phrases of similar meaning are considered to contain uncertainty and are forward-looking statements. In addition, from time to time, FutureFuel or its representatives have made or will make forward-looking statements orally or in writing. Furthermore, such forward­ looking statements may be included in various filings that the Company makes with the U.S. Securities and Exchange Commission (the “SEC”), in press releases, or in oral statements made by or with the approval of one of FutureFuel’s authorized executive officers.

These forward-looking statements are subject to certain known and unknown risks and uncertainties, as well as assumptions that could cause actual results to differ materially from those reflected in these forward-looking statements. Factors that might cause actual results to differ include, but are not limited to, those set forth under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in FutureFuel’s Form 10-K Annual Report for the year ended December 31, 2021, its Form 10-Q for the quarter ended March 31, 2022, and in its future filings made with the SEC. An investor should not place undue reliance on any forward-looking statements contained in this document, which reflect FutureFuel management's opinions only as of their respective dates. Except as required by law, the Company undertakes no obligation to revise or publicly release the results of any revisions to forward-looking statements. The risks and uncertainties described in this document and in current and future filings with the SEC are not the only ones faced by FutureFuel. New factors emerge from time to time, and it is not possible for the Company to predict which will arise. There may be additional risks not presently known to the Company or that the Company currently believes are immaterial to its business. In addition, FutureFuel cannot reliably predict the impact of each factor on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. If any such risks occur, FutureFuel’s business, operating results, liquidity, and financial condition could be materially affected in an adverse manner. An investor should consult any additional disclosures FutureFuel has made or will make in its reports to the SEC on Forms 10-K, 10-Q and 8-K, including any amendments of those filings. All subsequent written and oral forward-looking statements attributable to FutureFuel or persons acting on its behalf are expressly qualified in their entirety by the cautionary statements contained in this press release.

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Survivor of sunken yacht sent chilling message to father after escaping

A member of mike lynch's defence team was onboard superyacht the bayesian when it was struck and sunk by a storm off the coast of sicily.

Poppy Bilderbeck

The father of a passenger onboard the superyacht sunk by a storm in Sicily has spoken out about the chilling text message he received from her.

On Monday (August 19) at around 5:00am, a 'violent' storm hit just off the coast of Sicily and a luxury yacht called the Bayesian sunk.

The yacht was carrying 22 people and six - at the time of writing - remain missing.

The superyacht had 10 members of crew, alongside 12 passengers onboard - including the ' British Bill Gates' Mike Lynch , his wife, their 18-year-old daughter, alongside members of the legal team which represented Lynch and helped him get cleared of 15 counts of fraud which he faced after Silicon Valley giant Hewlett-Packard purchased his company Autonomy for $11.1 billion in 2011.

Recaldo Thomas - the yacht's on-board chef - has been confirmed dead with 15 others rescued and six currently remain missing.

And the text message of a passenger onboard who survived the incident has since been revealed by her father.

Ayla Ronald, who is originally from Christchurch, New Zealand , was one of the guests on board the superyacht as 'part of the legal team' who'd worked on Lynch's defence, her father, Lin Ronald, told The Telegraph.

He said: "[They] were invited to go sailing as a result of the success in the recent United States court case."

Shortly after the storm hit and the boat sank, Lin received a chilling text from his daughter which read: "She has said to me that there are deaths, and she and her partner are alive."

Indeed, one person has been confirmed dead and when questioned about the likelihood of others being alive, the Italian Coastguard's Vincenzo Zagarola said, as quoted by Sky News: "Never say never, but reasonably the answer should be not."

He continued: "We think they are still inside the boat, that is our very hard idea.

"Of course, we do not exclude that they are not inside the boat, but we know the boat sank quickly.

"We suppose that the six people missing may not have had time to get out of the boat."

Local media reports have since revealed rescue teams have entered the superyacht's hull by smashing through a window.

Yesterday, Giornale Di Sicilia reported divers had managed to enter the hull but have not yet been able to reach the cabins as a result of some entrances potentially being blocked.

Investigations have since been launched by Italian officials and the UK's Marine Accident Investigation Branch into why the Bayesian sank.

If you have experienced a bereavement and would like to speak with someone in confidence, contact Cruse Bereavement Care via their national helpline on 0808 808 1677

Topics:  Travel , World News , Bayesian yacht

Poppy Bilderbeck is a Senior Journalist at LADbible Group. She graduated from The University of Manchester in 2021 with a First in English Literature and Drama, where alongside her studies she was Editor-in-Chief of The Tab Manchester. Poppy is most comfortable when chatting about all things mental health, is proving a drama degree is far from useless by watching and reviewing as many TV shows and films as possible and is such a crisp fanatic the office has been forced to release them in batches.

• Captain of sunken yacht breaks silence with chilling five words about tragedy
• ‘British Bill Gates’ goes missing on sunken yacht just days after co-defendant in US fraud trial is ‘fatally struck’ by car
• Divers find bodies in search for missing tourists after yacht belonging to 'British Bill Gates' capsized
• Sixth body found in yacht disaster believed to be 'British Bill Gates'' daughter

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Ronald Kruszewski

Age, biography and wiki.

Ronald Kruszewski (Ronald James Kruszewski) was born on 1958 in Crumstown, Indiana, United States, is a Chairman and CEO of Stifel. Discover Ronald Kruszewski's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is He in this year and how He spends money? Also learn how He earned most of networth at the age of 65 years old?

We recommend you to check the complete list of Famous People born on . He is a member of famous Chairman with the age 65 years old group.

Ronald Kruszewski Height, Weight & Measurements

At 65 years old, Ronald Kruszewski height not available right now. We will update Ronald Kruszewski's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

Dating & Relationship status

He is currently single. He is not dating anyone. We don't have much information about He's past relationship and any previous engaged. According to our Database, He has no children.

Ronald Kruszewski Net Worth

His net worth has been growing significantly in 2022-2023. So, how much is Ronald Kruszewski worth at the age of 65 years old? Ronald Kruszewski’s income source is mostly from being a successful Chairman. He is from United States. We have estimated Ronald Kruszewski's net worth , money, salary, income, and assets.

Ronald Kruszewski Social Network

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.

Ronald James Kruszewski is an American business executive. Kruszewski is the chairman, chief executive officer, and former president of Stifel. 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.

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

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

Kruszewski received an Ernst & Young Entrepreneur of the Year Award in the financial services category in 2007. 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. Kruszewski appeared on the cover of St. Louis Commerce Magazine alongside three other executives in 2011.

Kruszewski is the current chairman and chief executive officer of Stifel. 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. Since then, the company has grown significantly by completing a series of acquisitions during the 2000s and 2010s. 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.

Kruszewski was born in Crumstown, Indiana, in 1958. He was the second of four children raised in a blue-collar family. 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. 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. He was the first in his family to attend college, which he funded by mowing lawns and working as a bouncer. He received an accounting and finance degree with honors from Indiana University Bloomington in 1980.

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