Believing strongly in Knight Capital Group Inc.'s importance to the financial industry, Ron Kruszewski, the chief executive of Stifel Nicolaus, made the executive decision to put down money to rescue the besieged financial firm from insolvency.  

"We put money at risk on a very quick basis, in a day, effectively, but we felt that it was important that Knight survive," Kruszewski said in a telephone interview with On Wall Street. "As an industry, we­- Jefferies, Stifel, Stevens - just went in there. We could have gotten more, but we felt it had to be an industry solution."

Register or login for access to this item and much more

All On Wall Street content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access