Barclays Trio Said to Found Research Startup as MiFID Looms
- Scott Davis, Carter Copeland, Rob Wertheimer quit this week
- Analysts to start Melius Research ahead of ban on free reports
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Three Barclays Plc analysts in New York have left the bank to set up their own firm in anticipation of the upheaval caused by European rules that will ban free research, according to people with knowledge of the moves.
Scott Davis, Carter Copeland and Rob Wertheimer resigned this week to start a boutique called Melius Research LLC, said the people, who asked not to be identified because the plans aren’t public. Davis, the top-ranked analyst in his sector by Institutional Investor, covers industrials including General Electric Co. Copeland follows aerospace companies, while Wertheimer covers machinery companies such as Caterpillar Inc.