Tom Michaud Recounts 9/11 Survival and KBW's Resilience After Devastating Losses
Tom Michaud, now CEO of KBW (Keefe, Bruyette & Woods), shared his harrowing experience of surviving the 9/11 attacks and the subsequent efforts to rebuild the investment bank. Michaud, who worked on the 89th floor of the South Tower, narrowly avoided being in the building due to a slight delay in his morning commute. He witnessed the attacks unfold and the collapse of the towers, losing 66 colleagues, including his direct boss and many from the research, sales, and trading departments. In the immediate aftermath, Michaud and the remaining leadership faced the immense challenge of deciding the firm's future, ultimately choosing to rebuild rather than pursue a planned acquisition. The firm established the KBW Family Fund to support victims' families and worked tirelessly to reconstruct records and operations, reopening for business less than a week after the attacks.
