Keefe, Bruyette & Woods (KBW) is a boutique investment bank and broker-dealer that specializes in the financial services sector. Founded in 1962, KBW has established itself as a leading expert in various financial sub-sectors, initially focusing on regional banks. The company has expanded its offerings to include sales, trading, and research, enhancing its role in the financial services industry. In 2013, KBW merged with Stifel Financial, which strengthened its capabilities in global wealth management. KBW provides a variety of services tailored to the financial services sector, including top-tier research, equity sales and trading, capital raising, and strategic advisory services. One of its notable products is the KBW Bank Index, a benchmark for the banking sector that serves as a key performance indicator. With operations in North America and Europe, KBW serves a diverse clientele, including banking institutions, insurance companies, asset management firms, and real estate companies. The firm is headquartered in New York and employs over 400 people, fostering a collaborative work environment.