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Wall street mourns chief Citigroup stock strategist Levkovich

After he succumbed Friday to injuries sustained in a car accident last month.
Image: Chris Goodney/Bloomberg

Colleagues, friends and admirers from across Wall Street publicly mourned Tobias Levkovich, Citigroup Inc.’s longtime chief US equity strategist, after he succumbed Friday to injuries sustained in a car accident last month.

“It is with great sadness that I report that my dear friend and (three decade) confidante Tobias Levkovich has passed away,” Seabreeze Partners founder Doug Kass wrote on Twitter. “Words can’t express my sadness this morning.”

Analysts and investors who knew Levkovich 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 September 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 US 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.

© 2021 Bloomberg

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