Scott McCuaig has retired from his role as president, co-chief operating officer and director of broker-dealer Stifel, Nicolaus & Co. effective April 1.

The move was announced by parent company Stifel Financial Corp. on Monday. McCuaig is also retiring from his role as senior vice president and director of Stifel Financial Corp., as well as all other roles with Stifel Financial subsidiaries and affiliates.

McCuaig’s decision was announced internally a year ago, said Stifel Chairman, President and Chief Executive Ronald J. Kruszewski. During that time, Stifel has moved to transition his responsibilities, Kruszewski said.

“I always respect when people can exit this business with grace and time to enjoy life,” Kruszweskisaid Monday.

He will be replaced by James M. Zemlyak, who will continue in his current role as chief financial officer of the holding company, Kruszewski said, while taking on overall responsibility for the broker-dealer business. Allen Brautigam has been promoted to director of branches from his previous regional director role.

McCuaig assumed the president and co-chief operating officer in 2002 after first joining the firm as head of its private client group in 1998. Before that, he served in various roles at Robert W. Baird & Co. including managing director, director of marketing, regional sales manager and board member.