art cashin, Director of Floor Operations at UBS The man who spent more than 60 years on Wall Street has died at the age of 83.
“It is with a heavy heart that I inform you of the passing of Arthur Cashin Jr., a true stalwart of our industry, a highly respected market expert,” said Bill Carroll, head of sales and development at UBS Wealth Management USA. A memo to employees seen by Reuters on Monday.
Cashin, whom The Washington Post dubbed ‘Wall Street’s version of Walter Cronkite’, was a regular on CNBC, providing stock market commentary and analysis to the business news channel’s viewers for more than 25 years.
He began his business career at Thomson McKinnon in 1959. In 1964, at the age of 23, he became a member of the NYSE and a partner of PR Herzig & Company.
In 1980, Cashin joined the investment bank Pennwebber and managed their floor operations. PennWeber was acquired by UBS in 2000.
At the time, the NYSE floor was the center of the vast majority of all trading activity in the United States.
Cashin was one of three senior executive floor governors and also served as a member of the Bond Club of New York. He was also a part of the high-IQ society Mensa.
In addition to his role at UBS, he is famous for his daily newspaper, Cashin’s Comments, which has been published for over 25 years and reaches over 100,000 readers daily. He has been a regular contributor to CNBC’s Art Cashin on the Markets for more than two decades, a segment that airs several times a week.
“It’s fair to say that during this time, Art Cashin became a household name for investors across the country who recognized his savvy take on the markets while also being one of UBS’s strongest brand ambassadors,” the memo said. Benefited from insight, good humor and wit.” ,
Cashin was born in 1941 in Jersey City, NJ, according to CNBC, which first reported his death.
CNBC did not immediately respond to a Reuters request for comment. Cashin’s family could not be reached for comment.
