Keefe, Bruyette & Woods Appoints Head of European Investment Banking; Stephen Howard, Formerly of Dresdner Kleinwort Wasserstein, Joins KBW

Business Wire, Sept 29, 2004

LONDON & NEW YORK -- Keefe, Bruyette & Woods Limited, a U.K. based brokerage firm specializing in the financial services sector and wholly owned subsidiary of U.S. based Keefe, Bruyette & Woods (KBW), today appointed Stephen Howard to the newly created position of Head of European Investment Banking effective immediately. He will be based in the firm's London office.

Mr. Howard, 42, joins KBW Limited after spending 16 years, virtually his entire professional career, at Dresdner Kleinwort Wasserstein (formerly Kleinwort Benson). Most recently, Mr. Howard ran the firm's Financial Institutions Group. Over the years, he has worked on many high-profile transactions, including Dresdner Bank's takeover by Allianz, NatWest's defense against bids by Bank of Scotland and The Royal Bank of Scotland, AXA Group's offer for Guardian Royal Exchange and AEGON's acquisition of Guardian Life.

"KBW may be new to Europe, but the firm is already living up to its reputation as one of the leading investment banks specializing in the financial services sector," said Stephen Howard. "I look forward to building on the firm's U.S. success here in Europe."

"Following the successful launch of European equity research, sales and trading earlier this year, KBW Limited is now in an excellent position to broaden out into corporate finance," said John Duffy, KBW Chairman and CEO. "Stephen Howard brings an impressive knowledge of the European financial services industry and is committed to providing superior service and unique ideas to our European clients."

About Keefe, Bruyette and Woods

Keefe, Bruyette, & Woods, Inc (KBW) is an institutionally oriented securities broker/dealer and full service investment bank that specializes in the financial services sector. Founded in 1962 and 100% employee-owned, the firm has long been recognized as a banking industry authority and, in recent years, has expanded its focus to include insurance companies, broker/dealers, mortgage banks, asset management companies, and specialty finance firms. For more information, please visit www.kbw.com