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(Bloomberg) — Dan Ives, a technology analyst well-known on Wall Street for both his eye-grabbing outfits and perma-bull views, is leaving his post at Wedbush Securities to launch a merchant bank.
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The new firm will include research, capital raising, advisory and investing in what Ives describes as a “modern merchant bank” across sectors such as technology, energy, infrastructure and financials.
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“It’s been a glorious eight years for me at Wedbush and I’ve loved every minute of it. I’m so proud of everything we’ve accomplished,” Ives said in an interview. “To me it’s part of my evolution in 25 years on Wall Street to take this next step.”
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More details will be formally announced in the coming weeks, Ives said. He added that his work as a research analyst and frequent commentator on television and radio will continue. The news of Ives departure and new venture was first reported by CNBC.
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Though the career move may seem like an unusual one, Ives is no stranger to charting his own path on the Street. While at Wedbush, he briefly served as the chairman of Eightco Holdings Inc.; shares of the company surged more than 3,000% when his position was announced alongside plans to buy digital tokens backed by OpenAI Inc.’s Sam Altman. Ives also served on the advisory board of Zeta Global Holdings Corp. and last year started his own colorful clothing line.
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Ives also launched exchange traded funds, the Wedbush AI Revolution ETF (IVES) and the Wedbush AI Power & Infrastructure ETF (IVEP). Wedbush Fund Advisors will continue to manage the IVES and IVEP exchange-traded funds, according to a press release on Wednesday.
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Ives, whose research notes often give pithy sports metaphors to describe prominent technology companies and especially the top names in artificial intelligence, said that his next step “would be like going from being a player on a team to an owner-player on a baseball team.”
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It’s an opportunity to “build something with a vision that I’m a believer in,” he said.
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