Wall Street Mourns Chief Citi Stock Strategist Levkovich
(Bloomberg) -- Colleagues, friends and admirers from across Wall Street publicly mourned Tobias Levkovich, Citigroup Inc.’s longtime chief U.S. equity strategist, after he succumbed Friday to injuries sustained in a car accident last month.
“After more than 33 years with Citi, it would be an understatement to say that Tobias was well-known and highly regarded beyond our research division,” Paco Ybarra, who leads Citigroup’s institutional clients group, said in a memo to staff Monday. “He was a fixture within the halls of Citi, always stopping to engage with colleagues or discuss his latest market call. His charisma and energy were unmatched.”
Analysts and investors who knew Levkovich, who was 60 years old, described his sharp intelligence and good nature as they reflected on his passing, both online and at a service on Sunday. Many noted they had worked with him years ago but kept in touch as they fanned out to other shops. Several recalled client meetings or conversations that went long as he continued to share ideas.
“Such a nice person and a talented quick-witted strategist,” PNC Financial Services Group Inc. Chief Investment Officer Amanda Agati wrote on Twitter. “Truly the end of an era. You will be missed.”
Levkovich, a resident of Woodmere, died at a Long Island hospital, the Nassau County Police Department said Friday in a statement. He was struck while crossing Peninsula Boulevard shortly after 6 a.m. on Sept. 1. He was initially in stable condition, police said.
Nassau County police said the driver of the car remained at the scene after the crash, which is under investigation. The driver’s identity hasn’t been released.
Levkovich, a managing director at Citigroup, had been chief U.S. equity strategist since 2001, according to a biography on the CFA Society of New York website. He was a high-profile figure at the New York-based bank whose market forecasts and commentary on equities received widespread coverage in the press.
Levkovich’s outlook for the S&P 500 was tracked closely and often discussed. For 2021, he struck a particularly bearish tone, predicting the benchmark index will end the year at 4,000 before eventually reaching 4,350 by June -- levels it’s already surpassed even with recent turbulence. He acknowledged that situation a month ago -- and then stood by his analysis.
He held a bachelor’s degree in commerce from Concordia University in Montreal and attended Boston University’s Graduate School of Management, the CFA Society’s website shows.
“We are deeply saddened by the tragic loss of our friend and colleague Tobias Levkovich,” Citigroup said in a statement. “He will be missed incredibly. Our thoughts are with his family and friends during this difficult time.”
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