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When it agreed to be sold to Stifel last year, KBW was painted as a victim of weak bank M&A and the transformation of investment banking. Things are looking up now as the combined company ranked as the top advisor in four of six U.S. regions at midyear.
September 1 -
The rates commercial bankers pay for M&A advice were on the rise long before investment banks began to consolidate. Their future direction depends on the pace of bank deals.
February 15
A group that includes the co-founder of Sandler O'Neill & Partners has started a new investment bank aimed at community and regional banks.
Kimberlite Advisors will advise community banks, real estate companies and investors, the New York firm said in a release issued Tuesday. Thomas O'Neill, founder of Sandler O'Neill, will serve as co-chief executive with Michael Coster, a former Lazard Frères managing director.
There has been a lot of upheaval in investment banking in recent months. Stifel Financial earlier this year
Other principals involved with Kimberlite include Lewis Ranieri, a former Salomon Brothers vice chairman who is considered a mortgage-finance pioneer; Alan Pomerantz, a lawyer who headed the real estate practice group at Weil, Gotshal & Manges; and Kenneth Hamlet, a former president and CEO of Holiday Inn.
