The longtime technology analyst said the new firm will combine research, advisory, capital raising and investing as it targets opportunities created by artificial intelligence and other structural shifts.
Dan Ives is leaving Wedbush Securities to start a merchant bank that will combine proprietary research, strategic advisory, capital raising and investing under one roof, with a focus on opportunities tied to artificial intelligence and other structural changes across the economy. Ives said the firm will be formally announced in the coming weeks and plans to work across technology, energy and financials, while he intends to continue covering technology stocks in a research capacity as he helps build the business. The move is a notable shift for one of Wall Street's best-known sell-side analysts, whose bullish views on AI beneficiaries and frequent television appearances have made him a familiar figure to investors. Ives, who spent eight years at Wedbush and more than 25 years covering technology stocks, said he wants to build a "modern merchant bank" with long-term capital and strong partners that could change how Wall Street views investment banks.