Financial Industry May Lose 150,000 Jobs in 18 Months, Bove Says

Financial Industry May Lose 150,000 Jobs
Pedestrians pass a Bank of America branch in Times Square in New York. Photographer: Jeremy Bales/Bloomberg

Banks and other financial firms may lose 150,000 jobs by the middle of 2013, said Richard Bove, an analyst at Rochdale Securities LLC.

“The financial industry in my view is going to shrink by about 150,000 people over the next 12 to 18 months,” Bove said during an interview today with Tom Keene on “Bloomberg Surveillance.”

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