Dick Bove May Jump Ship from Rochdale as 'White Knight' Remains Absent

December 3, 2012 9:46 AM EST Send to a Friend
Beleaguered securities firm Rochdale is on the brink of losing its brightest star.

Reports out Monday have analyst Dick Bove, Senior Vice President of Equity Research at Rochdale Securities, being courted by competing firms as Rochdale works out how to stay afloat following $1 billion of unauthorized trades last month.

A bevy of traders, analysts, and other staff have left the firm, though Bove has said he plans to stay as CEO Dan Crowley continues to seek out a "white knight" which will lend the firm $5 million as it works out kinks with regulators stemming from the trade.

FINRA has barred Rochdale from conducting trades for clients following the Apple mishap and Bove is also unable to distribute research to clients.

The NY Post noted today that Bove might hit the exits if no resolution is found, though a time frame wasn't speculated.

Bove appears from time to time on CNBC, Bloomberg, and Fox News programs with analysis on U.S. banks.


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