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KBW: M&A activity among U.S. financial services firms expected to rise

On Thursday, Keefe, Bruyette & Woods released its 2013 outlook for the financial services sector. Overall, KBW projects limited top-line growth for most financial firms in 2013 in light of moderate economic growth and low interest rates. The firm said it expects M&A activity to accelerate in the coming year; and predicts that outside of the banking sector, such activity will be driven by efficiency savings and that "firms with lagging returns will become more realistic about pricing."