KBW, Inc. Announces Executive Management Succession, Third Quarter Results, Workforce Reduction Program, Quarterly Cash Dividend and Increase in Stock Repurchase Program

NEW YORK--(BUSINESS WIRE)--KBW, Inc. (NYSE: KBW), a full-service investment bank that specializes in the financial services sector, is announcing that Thomas B. Michaud has been appointed Chief Executive Officer and President of the Company and Andrew M. Senchak, has been appointed Chairman of the Board. John G. Duffy will serve as Vice Chairman of the Board. These changes are described further under the heading “Executive Management Succession” below. In addition, KBW has implemented a workforce reduction program, declared a regular quarterly dividend and authorized an additional $50.0 million for its stock repurchase program, as described further under the headings, “Workforce Reduction Program” and “Capital Management and Other Matters.”