Bloomberg News
WHEN TO SAY NO: "Whether you’re ahead or behind by a few deals, that is not a perfect measurement as to whether or not you did a great job for your client. Sometimes your best advice to your client is not to" pursue a deal, says Thomas Michaud, CEO of KBW.

Bank IPOs to Spike in 2014, Says KBW Chief Michaud

It has been a year after Stifel bought Keefe, Bruyette & Woods in a quest for more scale in the area of bank advisory services. Thomas Michaud, KBW's CEO, reflects on the past year and evaluates trends and forces in bank M&A and capital raising in coming months.

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