Stifel buys KBW

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Bank boutique KBW has agreed to a $550 million purchase by Stifel. As an investment banking boutique that focused on the financial services industry, KBW had run into some hard times, as deals proved scarce. Meanwhile, Stifel's recent acquisitions, which include Legg Mason's capital markets business and Thomas Weisel Partners, have helped the firm post record net revenue every year since 1997, notes Bloomberg. Article