(Reuters) – Artwork Cashin, UBS’ director of flooring operations on the New York Inventory Change who spent greater than 60 years on Wall Road, has died aged 83.
“It is with a heavy heart that I inform you of the passing of Arthur Cashin, Jr., a true giant in our industry, highly regarded market pundit,” Invoice Caroll, head of gross sales and growth at UBS Wealth Administration USA, stated in a memo to workers which was seen by Reuters on Monday.
Cashin, dubbed ‘Wall Road’s model of Walter Cronkite’ by The Washington Put up, was a daily on CNBC, delivering inventory market commentary and evaluation to the enterprise information channel’s viewers for greater than 25 years.
He started his enterprise profession at Thomson McKinnon in 1959. In 1964, at age 23, he turned a member of the NYSE and a associate of P.R. Herzig & Co.
In 1980, Cashin joined funding financial institution PaineWebber and managed their flooring operation. PaineWebber was acquired by UBS in 2000.
At the moment, the NYSE flooring was the hub for the overwhelming majority of all buying and selling exercise in america.
Cashin was one among three senior govt flooring governors and in addition served as a member of the Bond Membership of New York. He was additionally a part of the high-IQ society Mensa.
Along with his function at UBS, he’s famend for his every day e-newsletter, Cashin’s Feedback, which has been printed for over 25 years and reaches greater than 100,000 readers every day. He has additionally been a daily on CNBC’s Artwork Cashin on the Markets, a phase airing a number of instances per week, for greater than 20 years.
“It’s fair to say that over this time, Art Cashin became a household name for investors across the country, who benefited from his savvy insight on the markets, good humor and wit, while being one of UBS’s strongest brand ambassadors,” the memo stated.
Cashin was born in Jersey Metropolis, New Jersey, in 1941, based on CNBC, which first reported on his loss of life.
CNBC didn’t instantly reply to a Reuters request for remark. Cashin’s household couldn’t be reached for remark.
