Pak packs up

Michael Pak’s career with Clarkson Capital Markets appears to be drawing to a close.

In an email to clients, the Houston-based equity analyst said he was “in the process of leaving” the firm but failed to elaborate further.

“It has been a pleasure working with you on my coverage of Asian and US-listed shipping equities,” he wrote.

“I hope to resurface in an investment research and/or corporate finance & development capacity.”

When contacted by TradeWinds, Pak declined to discuss the reasoning behind his departure but said he expects Clarkson Capital to continue to issue research notes going forward.

Many observers weren't surprised by the development given ongoing turbulence in the shipping and banking sectors and some believe the “writing was on the wall” when veteran analyst Urs Dur joined the team last year.

Pak, who signed on in 2010 and helped lay the foundation of a high profile expansion campaign in the US, said he intends to “take it easy” for a little while but is keeping an eye out for new opportunities and hopes to continue coverage of maritime equities in the future.

Clarkson Capital, which hasn't spoken about the matter publicly, did not immediately respond to numerous requests seeking comment Friday.