TLDR
- Dan Ives has departed Wedbush Securities following an eight-year tenure to establish his own merchant bank
- The new venture will integrate research capabilities, advisory functions, capital-raising operations, and direct investment
- Primary focus areas include artificial intelligence alongside related sectors such as technology, energy, and financial services
- One day prior to announcing his exit, Ives published an Outperform rating on SpaceX
- Wedbush has yet to announce a successor for Ives’ position
Dan Ives, widely regarded as one of Wall Street’s most prominent technology sector analysts, has parted ways with Wedbush Securities. His career at the firm spanned eight years, while his overall experience covering tech stocks extends beyond 25 years.
Ives revealed plans to establish what he characterizes as a “modern merchant bank.” The institution will consolidate research operations, strategic consulting, fundraising capabilities, and investment activities within a single entity.
The emerging firm will concentrate on artificial intelligence and the transformative shifts it’s driving throughout various industries. Key sectors under consideration encompass technology, energy, and financial services.
Speaking with CNBC, Ives indicated his intention to maintain his technology stock coverage through research while simultaneously developing the firm’s broader operations. A formal announcement regarding the company is anticipated within the next several weeks.
According to Ives, the organization will attract professionals from throughout Wall Street. He has built a reputation for optimistic perspectives on AI-connected enterprises and regular appearances across financial media platforms.
Wedbush Securities acknowledged the transition through a Wednesday press statement. CEO Gary Wedbush characterized the move as “a natural step for Dan to seize an entrepreneurial opportunity.”
Ives informed Wedbush of his decision on Wednesday, with his departure effective immediately that same day.
Questions Surround SpaceX Coverage Announcement
Just 24 hours before informing Wedbush of his intentions, Ives published his initial coverage assessment of Elon Musk’s SpaceX, assigning an Outperform designation. A CNBC host directly questioned the sequence of events.
“From a timing perspective, you never could coordinate these things,” Ives stated.
Ives has maintained multiple positions beyond his primary analyst responsibilities. According to a January Barron’s report, he served as an adviser to Zeta Global Holdings, a publicly listed marketing technology enterprise, while also chairing a different technology company.
These additional roles weren’t consistently disclosed within his research documentation at that time, prompting concerns from Wall Street professionals regarding possible conflicts of interest. Following the Barron’s publication, Ives began incorporating disclosures into his social media communications.
Earlier Positions and Resignations
In March, Ives resigned from his chairman position at Eightco Holdings, a digital assets enterprise whose stock was valued at 71 cents per share. Cryptocurrency investor Tom Lee subsequently joined the board to occupy the vacant position.
Ives previously represented two Wedbush exchange-traded funds as their public face. Additionally, he introduced a personal clothing brand last year.
Wedbush has not designated a replacement for Ives’ role. The firm described the transition as marking “the next phase of growth” for its technology research division and investment banking operations.
