Market Overview

Some Big-Name Equity Analysts Are Switching Teams

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Some Big-Name Equity Analysts Are Switching Teams

There’s been a flurry of job departures among sell-side stock analysts in 2016. Traders likely recognize some of the bigger names that have gotten the job-hopping itch.

Piper Jaffray Companies (NYSE: PJC)’s popular Apple Inc. (NASDAQ: AAPL) analyst Gene Munster has announced he is leaving the company and teaming up with long-time associates Doug Clinton and Andrew Murphy to form a new venture capital firm, Loup Ventures. The firm will reportedly focus on virtual reality, augmented reality, artificial intelligence and robotics.

Munster had been with Piper Jaffray since 1995. In addition to Apple, Munster covered other popular digital media stocks such as Facebook Inc (NASDAQ: FB), Alphabet Inc (NASDAQ: GOOG) (NASDAQ: GOOGL), Amazon.com, Inc. (NASDAQ: AMZN) and Yahoo! Inc. (NASDAQ: YHOO).

Other Names

Munster isn’t the only analyst that is job hopping. Long-time SunTrust Banks, Inc. (NYSE: STI) analyst Bob Peck will be leaving the company for a new position at Credit Suisse Group AG (ADR) (NYSE: CS) as well.

The finance world certainly seems to be taking notice of the shuffling.

Back in February, Oppeheimer Holdings Inc. (USA) (NYSE: OPY) reportedly fired 14 senior equity analysts and their staff. Among the group let go were Sean McGowan, Holden Lewis, Robert Duboff and James Schumm.

Evercore Partners Inc. (NYSE: EVR) also laid off five equities analysts this year, including Chris Allen.

 

Related Articles (EVR + OPY)

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Posted-In: Andrew Murphy Doug Clinton Gene Munster Holden Lewis James Schumm Loup VenturesNews Management Best of Benzinga

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