CHICAGO - With an unabated appetite for expansion, Stifel, Nicolaus & Co.'s public finance division is making a pronounced step into Ohio by hiring most of the banking team from Wachovia Securities, but the move comes at the expense of its newly acquired Butler Wick & Co. municipal group.

The Butler Wick bankers the firm let go on Feb. 12 include its manager Omar Ganoom, Donald Bank, and Eric Prall, all located in the firm's Columbus office, and Joseph O'Keefe, who was hired last June to establish a presence in Illinois.

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