Stifel increased compensation for several top executives as pay for its chairman and CEO, Ron Kruszewski, increased 23% in 2012.

According to disclosure documents filed with the Securities and Exchange Commission, the firm raised Kruszewski’s total compensation from $5.7 million in 2011 to nearly $7 million in 2012. Stifel also increased pay for other top executives last year in the form of increased annual compensation incentives, which are awarded at the end of each year for strong performance.

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