July 1 (Reuters) - Wedbush Securities said on Wednesday Dan Ives, its managing director and global head of technology research, has left the brokerage firm to start his own investment banking venture.

Ives, who spent eight years at Wedbush, said he would announce the new venture in mid-July.

"I will be launching a new modern merchant bank with a great investment partner and a lot of capital behind it and be a trusted partner for clients and investors looking forward," Ives told Reuters in an emailed response.

Wedbush Fund Advisers will continue to manage the IVES and IVEP ETFs. Founded in 1955, Wedbush Securities is the largest subsidiary of Wedbush Financial Services.

"It's a natural step for Dan to seize an entrepreneurial opportunity and I wish him success and look forward to future partnerships with his new venture," said Wedbush Securities CEO Gary Wedbush.