Stifel Financial announced on Wednesday that, in response to current economic uncertainty, the company will be closing its office in Calgary, the oil and gas capital of Canada. According to a Stifel spokesperson, after a comprehensive review, we have made a difficult decision to consolidate some of our operations in Canada, including the closure of the Calgary office. Current market conditions and operational costs require us to take this action. This move comes as Jefferies Financial, a peer of US investment banks, opens offices in Toronto and Calgary, and establishes investment banking and capital markets departments in Canada to pursue its international expansion plan. The bank has more than 50 employees in Canada in its investment banking, stock research, sales, and trading departments. Stifel says it will continue to provide services to clients at its offices in Melbourne, Toronto, and Vancouver.