Instinet announced today that it has entered a research marketing agreement with Meredith Whitney Advisory Group – MWAG.
MWAG provides a diverse range of advisory services through its analysis of both the financial sector and state governments, including mortgage, banking, brokerage, credit card and payment processing firms. Its municipal focus is on the economic issues faced by 25 U.S. States.
Instinet will deliver exclusive MWAG services via its Instinet Access program, according to Mark Dowd, spokesman at Instinet. Access gives independent research providers outsourced marketing support, account coverage, payment facilitation and other services.
Dowd added that as an independent firm unaffiliated with any financial institution, MWAG’s extensive knowledge base would be a benefit to Instinet’s clients.
Whitney’s claim to fame was her analysis on the state of the banking system, particularly of Citigroup, back in 2007 before the financial system collapse of 2008 and the Lehman Brothers collapse and fire-sale of Bear Stearns.
More recently, the firm has chronicled the financial difficulties facing several U.S. states and cities and has forecast a large scale default event in the municipal bond market. No such default has happened yet.
