Meredith Whitney, the Wall Street analyst who forecast a flood of U.S. municipal-bond defaults in 2010 that hasn’t materialized, won backing from billionaire Michael Platt and other partners at BlueCrest Capital Management LLP for her new hedge fund-firm, according to a fund presentation.
U.S. lenders face “tough” comparisons when they report second-quarter results and higher dividends aren’t likely because of increasing capital requirements, according to banking analyst Meredith Whitney .
Meredith Whitney, who built her own Wall Street advisory firm after winning renown for a 2007 call on Citigroup Inc., deregistered her brokerage unit following three unprofitable years and is setting up an investment fund, according to industry records.
U.S. banks will close 5,000 branches in the next 18 months as they face profit declines from decreased loan demand and lower fee revenue, said Meredith Whitney , the former Oppenheimer & Co. analyst who now runs her own firm.
Job cuts on Wall Street will be a “continued slow bleed” after the industry trimmed hundreds of thousands of positions in recent years, said Meredith Whitney, a banking analyst and chief executive officer of Meredith Whitney Advisory Group.