The Private Markets Group serves its clients in three primary areas:

1. Venture capital and private equity fund management.
2. Advisory services to emerging early stage private companies.
3. Advisory services to venture capital and private equity fund managers.

Through the Private Markets Group, Stifel, Nicolaus is a co-general partner of Vectis II, a national life sciences venture capital and private equity fund, co-headquartered in St. Louis and in Boston with its partner, Brooke Private Equity Advisors.

The principal officers of the Private Markets Group are:

J. Joseph Schlafly – Senior Vice President and Director
Phone: 314-342-2134

Mr. Schlafly serves as the Director of the Private Markets Group. After practicing law at Bryan Cave in St. Louis for almost four years, Mr. Schlafly joined Stifel Nicolaus in 1980 where he has focused primarily on investment banking for a variety of clients. During his tenure at Stifel Nicolaus, Mr. Schlafly served on the Management Committee and managed the Corporate Syndicate Department and the Capital Markets Group. In that connection, Mr. Schlafly was a key principal in the organization of the initial public offering of Stifel Nicolaus in 1983.

In 1985, Mr. Schlafly became the Director of Public Finance and remained in that role until April, 2007. He then became the Director of the Private Markets Group to pursue venture capital and private equity opportunities. In the area of venture capital and private equity, Joe has successfully formed and managed three Missouri-based venture capital funds for Stifel Nicolaus and has also successfully raised, either directly or indirectly, over $250 million for other venture capital firms in Missouri.

Joe recently served as Chairman of the St. Louis Chamber and Growth Association's Capital Formation Alliance, designed to attract capital and commerce to the Saint Louis region. Additionally, Joe currently serves as a board member of the Coalition for Plant and Life Sciences and Innovate Saint Louis.

Mr. Schlafly received his undergraduate degree from the University of Pennsylvania and his Juris Doctorate from St. Louis University School of Law

Thomas L. Shoaf, M.D. – Managing Director

Thomas L. Shoaf is Managing Director of Private Markets at Stifel Nicolaus & Company, Inc. Tom oversees investments for the Vectis Healthcare and Life Sciences Fund II and advises private life science companies.

Dr. Shoaf previously served as Medical Director at UCB, based in Brussels, Belgium, where he had responsibilities in clinical development and FDA regulatory strategy including that of Keppra®, a top selling medication for epilepsy. He later served as Senior Director of Global Business Development and completed licensing agreements with Biogen Idec, Jazz Pharmaceuticals and the acquisition of Schwarz Pharma AG for approximately $6 billion.

Tom conducted clinical research and practiced and taught medicine as an Assistant Professor at the University of Texas Southwestern Medical Center (UTSW) at Dallas and later at the University of Chicago. His numerous publications include a pediatric psychiatry book published by McGraw Hill. He completed his residency and fellowship at UTSW and is certified by the American Board of Psychiatry and Neurology. After receiving his undergraduate degree from Stanford University, he worked in fiscal and tax policy at the Cato Institute, then completed his MD from the University of Kansas School of Medicine, and MBA from Kellogg School of Management at Northwestern University.

Tom serves as a trustee of the Lattner Family Foundation, which contributes to neuroscience research and health services.