Rochdale rivals courting star analyst Bove
Embattled Rochdale Securities may find it tough to hang on to one of its most prized assets: star bank analyst Dick Bove.
Bove is being courted by a bevy of rival firms with Rochdale teetering on the edge after it was rocked by $1 billion worth of unauthorized Apple trades.
The small brokerage, run by CEO Dan Crowley, blames a rogue trader, identified as David Miller, for making the massive bet without approval. The Federal Bureau of Investigation, along with regulators including the Financial Industry Regulatory Authority, are probing the matter.
Bove has pledged to stay at the firm while Crowley looks for a white knight willing to pony up $5 million or more to allow the Stamford, Conn., firm to continue operating as a broker-dealer....