Securities Industry News
Bove Joins Rochdale Securities
Wednesday, 18, Feb 2009
Following his legal battle with a Florida bank, securities analyst Richard Bove decided to change employers.Bove, a well-known and outspoken bank analyst, said Tuesday he joined Rochdale Securities LLC, the Connecticut-based institutional brokerage. In an interview with Dow Jones Newswires, he said the lawsuit BankAtlantic Bancorp Inc. (BBX) brought against him and his former employer Ladenburg Thalman & Co. made working there "untenable."
At Ladenburg, Bove covered banks and brokerages, including JPMorgan Chase & Co. (JPM), Citigroup Inc. (C), Bank of America Corp. (BAC), Morgan Stanley (MS) and Goldman Sachs Group Inc. (GS). He was among the voices forecasting steep losses for the financial services industry.BankAtlantic took issue with one of those reports, "Who Is Next," issued in July following the collapse of IndyMac Bancorp Inc.
