Outspoken bank analyst Mike Mayo is leaving
, because the German bank tried to keep him from speaking his mind
The Wall Street Journal
Mayo will join boutique firm
and will be replaced at Deutsche Bank by Glenn Schorr, who is leaving
, the paper says. A Deutsche Bank spokeswoman declined to comment.
An internal UBS memo obtained by
stated that Schorr has left UBS and that Michael Carrier will assume Schorr's coverage of
. The fate of the rest of Schorr's coverage, which includes large cap banks such as
is still to be announced, the memo says.
A UBS spokeswoman confirmed the contents of the memo.