In a 2010 report, Wheeler made the case that British conglomerate Barclays (BCS) should split its investment bank from its commercial bank as a means to improve the firm's share price. At the time, he calculated such a move could lift Barclays shares by 39%.
Since 2010, Barclays shares have been range-bound. Over the past year, shares in the bank also underperformed the FTSE 100.
SImilarly Wheeler has been critical of Deutsche Bank's (DB) attempts to continue to operate as a universal bank with investment banking and commercial banking operations on a single balance sheet. The analyst also said in a May 2013 report that the U.K government may be working on plans to sell its stake in Lloyds Banking Group before divesting a similar rescue investment in Royal Bank of Scotland (RBS).
-- Written by Antoine Gara in New YorkFollow @AntoineGara
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV