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Keefe, Bruyette & Woods (KBW) is a full-service, boutique investment bank and broker-dealer that specializes in the financial services sector. We operate in North America and Europe, providing institutional & private investors and financial services companies with research, equity sales & trading, capital raising, and strategic advisory services. We have built our reputation for excellence in financial services on the basis of our research platform, our senior professionals, track record of market innovation, and the strength of our execution capabilities.


On June 11, 1962, Harry Keefe Jr., Gene Bruyette, and Norbert Woods, founded Keefe, Bruyette & Woods with five other employees and only $50,000 in capital.

Those were the days in which investors purchased bank stocks for the dividend yield alone, few banks published balance sheets or earnings statements, and research was nearly nonexistent. The founders began this company with a vision of the future and belief in personal responsibility and accountability. With sales, trading, and research operations, and a focus on regional banks and savings & loan associations, the company grew solidly.

On September 11, 2001, our headquarters in the World Trade Center was destroyed and 67 employees perished. Five of our nine board members, including our co-CEO and Chairman, died. The employees of several departments were nearly completely lost.

In the years that followed, we committed ourselves to rebuilding — eventually growing our company from 157 surviving employees to more than 500 — while preserving and nurturing the spirit of teamwork, employee participation, and individual initiative that has underpinned the firm's resilience and success throughout its history.

In February 2013, after fifty years in operation, we entered into a merger agreement with Stifel Financial. Our combined strengths have allowed us to continue to grow and fortify our company, leveraging Stifel's robust global wealth management capabilities and contributing the strength of KBW's market brand as the specialized financial services platform of choice.