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 York