Industry Watch: Silenced' Analyst and Trader Form Institutional Brokerage.

Traders, February, 2000 by Wexler, Sanford

Sean Ryan, a former Bear Stearns & Co. banking analyst, and Daniel Byrne, who ran the trading desk at Keefe Bruette & Woods, have teamed up to launch a new institutional brokerage in listed stocks.

Byrne, Ryan & Co., which is setting up shop in White Plains, N.Y., with six employees, is slated to begin trading in mid-February.

The firm is touting its "unbiased," fundamental research information on financial stocks. "We don't have any of the investment banking or other business conflicts that have increasingly weighed on mainstream Wall Street research," said Ryan, president of Byrne Ryan.

Last year, Ryan, who was then with Bear Stearns, issued a critical assessment of First Union, the sixth-largest U.S. bank. He questioned whether the...

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