Mark T. Lynch, a Wall Street bank stock analyst for the past decade, is joining Wellington Management Co. today after resigning from Lehman Brothers, New York, according to market sources.
Mr. Lynch, who could not be reached for comment Monday, is the second banking analyst in as many weeks to depart from a major brokerage firm.
Last week, George M. Salem resigned from Prudential Securities Inc., closing out a 26-year career as a "sell side" analyst to look for opportunities in the investment management sector, better known as the "buy side" of Wall Street.
Wellington Management ranks among the nation's largest institutional investors.
Mr. Salem and other analysts have cited the rigors of travel and marketing and a desire to focus more on investment strategy as reasons for making the shift.
Mr. Lynch had covered regional and superregional banks at Lehman Brothers for three years.
Before that, he had followed banks for Bear, Stearns & Co., New York, together with analyst Mark Alpert. Mr. Alpert is now a bank analyst in New York for Alex. Brown & Co., Baltimore.
With Mr. Lynch's departure, Lehman Brothers has two bank analysts. Michael L. Mayo covers regional banks; James M. Rosenberg covers money-center and large West Coast banks.