Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

Top Strategist at Bank of America Is Replaced 3 Days After he Called for S&P 1450

Joe Weisenthal, Business Insider
David Bianco, head of U.S. equity strategy at Bank of America Merrill Lynch
Daniel Acker | Bloomberg | Getty Images


David Bianco, the top equity strategist at Bank of America , has been replaced one day after calling for the S&P 1450, in an uber-bullish research report that was widely panned by anyone.

According to Bloomberg, it's not clear if he was fired or whether he resigned, and the bank wouldn't say.

New strategist Savita Subramanian came to the firm in 2009 from UBS.

A spokeswoman for the bank, Susan McCabe, says Bianco's departure had nothing to do with his "S&P 1450!" call. Rather, she says, the firm decided to combine its quantitative and fundamental strategy teams into a single lead strategist position. David Bianco lost out.

Here's our recap of Bianco's note.

This story originally appeared on Business Insider

Read more from Business Insider:

»Bill Ackman Reveals His Next Big Trade: Long Hong Kong Dollar

» Kyle Bass: Greece Will Default, And It Won't Be Orderly

» BIG CONFERENCE CALL ENDS: Greece Says It's Staying In The Euro, And Everyone Is Still Supporting The Bailout

» Here Are The Countries Most Likely To Default


Questions? Comments? Email us at

Follow NetNet on Twitter @

Facebook us @