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Wall Street Analyst Hintz Leaves Bernstein to Teach

Photographer: Jin Lee/Bloomberg

Brad Hintz, analyst at Sanford C. Bernstein & Co. Close

Brad Hintz, analyst at Sanford C. Bernstein & Co.

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Photographer: Jin Lee/Bloomberg

Brad Hintz, analyst at Sanford C. Bernstein & Co.

Brad Hintz, a Sanford C. Bernstein & Co. analyst who covered investment banks including Goldman Sachs Group Inc. for more than a decade, is leaving Wall Street to become a professor at New York University.

Hintz, 64, said he will help teach a course on managing financial institutions at the Stern School of Business. The class’s other professors are former Goldman Sachs executive Roy Smith and Philip Ryan, an ex-chief financial officer at Credit Suisse Group AG, Hintz said in an e-mail.

“I have enjoyed my years in equity research and the opportunity it has given me to offer public commentary on the dynamics of Wall Street,” Hintz said. “I have been elated by my successes and humbled by my market mistakes.”

Hintz, a former CFO of Lehman Brothers Holdings Inc. and treasurer at Morgan Stanley, has been among the highest-rated analysts covering Wall Street banks since he joined Bernstein in 2000. He predicted some of the effects new capital rules and regulations would have on trading units at the biggest banks.

He issued ratings on Morgan Stanley (MS) and Goldman Sachs, and was vocal about issues at a variety of firms, including JPMorgan Chase & Co.’s trading losses and regulatory issues for BNP Paribas SA and Barclays Plc.

Institutional Investor magazine repeatedly named him the top analyst in his sector. In March 2013, Hintz recommended investors buy shares of Charles Schwab Corp. (SCHW), which has since jumped 66 percent.

Rating Mistake

Hintz had missteps as well. He maintained his outperform rating on Morgan Stanley from mid-2007 through the financial crisis, as the shares plunged. When that firm posted earnings for the first quarter of 2009 that trailed estimates, he said he was “humiliated.”

“My guys are holding the sword so I can run on it this afternoon,” Hintz said in an interview the day the bank announced its results.

Hintz changed his rating on Goldman Sachs last month for the first time in five years. He reduced his rating to market perform from outperform as Goldman Sachs trailed the broader market.

To contact the reporters on this story: Michael J. Moore in New York at mmoore55@bloomberg.net; Erik Schatzker in New York at eschatzker@bloomberg.net

To contact the editors responsible for this story: Peter Eichenbaum at peichenbaum@bloomberg.net Dan Reichl, David Scheer

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