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There will be no more early morning wake-up calls to catch bank earnings and market flights for Desjardins Securities financial services analyst Michael Goldberg, who is retiring after a dozen years at the firm and four decades in the business.
Mr. Goldberg is planning to retire as of June 27, an announcement he made in a note to his clients and contacts.
Prior to Desjardins, Mr. Goldberg spent nine years covering banks at HSBC, and before that he was at RBC covering banks for seven years. That's roughly 112 sets of quarterly bank earnings to analyze. Multiply that by eight publicly traded banks and you can see why Mr. Goldberg might be ready to put his feet up for a bit.
As Mr. Goldberg said in his announcement, "I could look at numbers until I'm blue in the face but, in the end, numbers are not enough – it comes down to people."
There has been a steady stream of movement among bank analysts in the relatively recent past. Desjardins has transferred coverage of banks to Doug Young, who was formerly at TD Securities.
Editors's note: this story has been updated to reflect that Mr. Goldberg covered eight, not six banks, and that Desjardins has already replaced Mr. Goldberg in bank coverage.