Bank Analysts Mayo, Schorr on the Move

Deutsche Bank analysts Mike Mayo is moving to boutique firm CLSA, as former UBS analyst Glenn Schorr takes his place.
Author:
Publish date:

Outspoken bank analyst Mike Mayo is leaving

Deutsche Bank

(DB) - Get Report

, because the German bank tried to keep him from speaking his mind

The Wall Street Journal

reported Thursday.

Mayo will join boutique firm

CLSA

and will be replaced at Deutsche Bank by Glenn Schorr, who is leaving

UBS

(UBS) - Get Report

, the paper says. A Deutsche Bank spokeswoman declined to comment.

An internal UBS memo obtained by

TheStreet.com

stated that Schorr has left UBS and that Michael Carrier will assume Schorr's coverage of

Morgan Stanley

(MS) - Get Report

and

Goldman Sachs

(GS) - Get Report

. The fate of the rest of Schorr's coverage, which includes large cap banks such as

Citigroup

(C) - Get Report

and

JPMorgan Chase

(JPM) - Get Report

is still to be announced, the memo says.

A UBS spokeswoman confirmed the contents of the memo.