2016 In Perspective: Research Hiring Driven By Exits

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Much of the research hiring during 2016 was opportunistic, as research providers picked up talent left behind during major exits and restructurings.  Jefferies added four Nomura analysts to its London team after Nomura decided to close its European cash equities business.  Mizuho Financial Group hired seven Japanese equity research analysts and salespeople laid off when Barclays exited its Asian cash equities.

Twelve different research providers found homes for some of the fifty stranded Sterne Agee CRT analysts, with Wedbush taking five analysts.  Nevertheless, only about twenty of the fifty former Sterne Agee CRT analysts found new positions as far as we can tell.

US mid-tier bank Seaport Global added ten research staff, the bulk of being refugees from BB&T Capital Markets shuttering its 50-person equity research department.  Loop Capital, a small Chicago investment bank, added a new equity research group by welcoming eight castaways from Topeka Capital Markets’ demise.

Expert networks continued to be aggressive recruiters, but otherwise independents seemed to have as many defections as new entrants.  Vendor expecting to benefit from MiFID II were adding staff.

Healthcare continued to be the most popular sector for new additions among mid-tier banks and independents, although energy and financial services also showed strength, along with the ever-popular technology sector.

There were a number of senior level management changes during the year as firms sought fresh leadership and founders implemented succession plans.

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Senior Management

A number of research industry firms strengthened their senior management ranks during 2016.  Macquarie and Berenberg hired new heads of US research, the latter as part of its geographic expansion.  In some cases the moves reflected management succession, such as Ed Wolfe’s passing on the Director of Research role in order to focus more on relationship management and strategic initiatives, or Morningstar’s founder Joe Mansueto handing over the CEO role.  Capital Economics’ transition did not seem as smooth.

Some moves were MiFID II-related, such as Citi’s decision to shift its European research head into a client-facing role, or Edison Research’s hiring of a new Chairman.  The head of Instinet Europe stepped down to pursue unnamed MiFID II opportunities, which we will presumably hear more about this year.

Crowdsourcing platform StockViews hired a senior buy-side exec, research aggregator Street Contxt hired a new President and research aggregator Airex hired Lava Trading’s founder.  Two research industry trade associations – Euro IRP and RIXML — changed their directors.

Fixed Income Researcher Gimme Credit Hires New CEO 01/06/2016

Gimme Credit LLC, an independent fixed income research provider, hired a new CEO as it looks to exploit cutbacks in investment bank fixed income research. Michael Connor, the CEO of fixed …

Macquarie Hires US Head of Research From BMO 01/06/2016

Macquarie Securities hired a new head of US equity research from BMO Capital Markets. Christine Farkas headed US Equity Research at BMO, and before that was a beverage and tobacco analyst …

Wolfe Hires New Director of Research 01/19/2016

Wolfe Research, a research boutique, hired a new director of research as the firm plans to expand coverage. Michael J. Kiernan, CFA will replace founder Ed Wolfe in the role …

Citi Moves European Research Head Pre-MiFID 01/20/2016

Citigroup shifted its European head of research to a client-facing role in anticipation of new research payment rules in MiFID II, according to an article in Business Insider. Terence “Terry” Sinclair, …

Cowen Hires Nomura’s Research COO 02/19/2016

Cowen Group, a mid-sized NY investment bank, hired Nomura’s Equity Research COO as its Associate Director of Research. Lisa Thomas joined the firm as a Managing Director based in New …

Former Fidelity Executive Named Chairman of Crowdsourcing Platform StockViews 03/10/2016

London-based research crowdsourcing platform StockViews appointed Thomas Balk, the ex-head of Fidelity International, as Chairman while raising £250,000 ($355,000) in seed funding. Balk spent over 16 years at Fidelity, including leading …

Research Aggregator Airex Hires Former Lava Trading Founder As New CEO 04/21/2016

Airex, a research distribution platform, hired a new CEO, Richard Korhammer, who was the founder of electronic trading platform Lava Trading.  The firm also hired a new head of marketing. Richard …

Edison Adds New Chairman 04/27/2016

Edison Group, a well-established issuer-paid equity research firm, appointed a prominent UK venture capitalist as its new Chairman.  Tom Teichman, founder and chairman of Spark Ventures, will work with the …

Convergex Veteran Joins Research Aggregator Street Contxt 05/10/2016

John Meserve, the former head of Convergex’s commission management business, has joined research aggregator Street Contxt as President. Toronto-based Street Contxt is “knowledge exchange” positioned to help sell side content producers …

Policy Researcher Medley Global Advisors Gets New President 05/20/2016

The Financial Times has hired a former UBS managing director to head its policy research subsidiary Medley Global Advisors. Paul Richards, previously Head of Foreign Exchange Distribution for UBS, is a …

Head of Instinet Europe Steps Down to Pursue MiFID II Opportunities 05/27/2016

The head of Instinet Europe has resigned to pursue FinTech opportunities in the brave new world of MiFID II.  Adam Toms, who was the CEO of Instinet Europe for four …

Berenberg Hires US Equities Head As Part of US Equities Expansion 06/16/2016

Berenberg, a Hamburg-based private bank which grew its equity commission business 31% last year, hired a former BNY Convergex executive to head its US equity capital markets.  The move is …

Banco Santander Names New Head of Equity Research 07/05/2016

In a surprise move, Banco Santander recently promoted Jesus Gomez to head the equity research division at its brokerage business, replacing Mariano Colmenar, who is leaving the bank, according to …

Lux Research Names New CEO 08/18/2016

Lux Research, a Boston-based industry consulting and primary research firm covering the emerging technology space, recently announced the hiring of Mike Coyne as President and CEO. New Hire In his new role …

Morningstar Founder Steps Down as CEO 09/12/2016

Last week Joe Mansueto, billionaire CEO of Chicago-based investment research, data and analytics firm, Morningstar, Inc. announced that he would be stepping down as CEO at the end of this …

RIXML Appoints New Leader During Period of Change 09/22/2016

RIXML.org, an industry association focused on electronic research distribution, hired a former research business manager from Deutsche Bank as its new Executive Director.  Jim Ulrich will succeed Jack Roehrig, a former …

Changing Guard at Euro IRP: From Peter Allen To Chris Deavin 10/04/2016

Euro IRP, the European trade association for independent research providers, announced Chris Deavin as new Interim Chairman.  Peter Allen, who served as Chairman for five years, resigned to devote time …

Capital Economics Experiences Wobbly Transition As Bootle Passes The Reins 10/20/2016

Two years after selling a portion of his stake in economic research firm Capital Economics, founder Roger Bootle is easing out of the business.  The transition was not as smooth …

Agency Broker Tourmaline Adds Two Senior Execs to Management Team 10/20/2016

Stamford, CT-based global agency broker, Tourmaline Partners, recently announced the addition of two new members to its management team – senior financial industry executives, Tim O’Halloran and Sean Riley. Tourmaline’s New …

Departures

Some research industry participants moved to greener pastures.  Investor relations remains the most common exit strategy for analysts, although some opted to simply move to the buy-side.

Like Old Soldiers, Independents Don’t Die Just Fade Away 02/15/2016

Industrials analyst Brian Langenberg, who spent over a dozen years as an independent equity analyst, has transitioned to other pursuits. Technically his independent research firm, Langenberg & Company is still …

Founder of Macro Vision Research Joins Rival Boutique 03/16/2016

Talley Léger, founder of macro research boutique Macro Vision Research, has joined a competing independent research firm, Fundstrat Global Advisors, where he will be a Managing Director and Global Strategist. Léger …

Analyst Leaves Sell-Side for IR Role 03/18/2016

Piper Jaffray media and entertainment analyst, James Marsh, has recently been named VP of investor relations to manage the IR function at Santa Monica, California-based Lionsgate.  Marsh had previously worked …

Independent ESG Research Head Moves To Buy Side 04/18/2016

The founder of independent ESG research firm Didas Research has taken a job as head of sustainable research for Schroder Investment Management, according to an article in Environmental Finance. Andy Howard …

Two Healthcare Partners Depart London Boutique New Street Research 04/19/2016

Two senior healthcare analysts have left independent New Street Research, according to company filings.  Partners Stuart Harris and Crawford Currie left the London-based firm at the beginning of April in …

Wells Fargo Analyst Moves To IR At MetLife 05/12/2016

A Wells Fargo insurance analyst has been tapped to head investor relations for MetLife, Inc., the largest US life insurer. John A. Hall joins as senior vice president and head …

New Street Research Partners Join Millennium Capital 05/12/2016

We noted last month that two senior healthcare analysts left independent boutique New Street Research, and they have surfaced at hedge fund Millennium Capital Management, according to an article in .

Boutique Athlos Research Quietly Folds Into Consumer Edge Research 06/21/2016

Athlos Research, an independent fundamental investment research boutique covering the North American food & beverage industry, has merged with consumer sector specialist Consumer Edge Research as the Athlos founder has …

Macro Vision Founder Leaves Rival For Buy-Side 06/23/2016

Talley Léger, the founder of Macro Vision Research who joined rival Fundstrat Global Advisors just four months ago, has defected to the buy-side. Léger was hired by OppenheimerFunds as an …

Top-ranked Energy Analyst Bails Out Of Research Into Investor Relations 11/24/2016

Patrick Jobin, a Credit Suisse analyst who made the Institutional Investors All America Research Team for the last three years, has left to take an investor relations role at solar …

Expert Networks

Expert networks continued their growth pattern, hiring aggressively.  Two prominent expert networks hired new marketing heads, perhaps signaling a need to stimulate future growth.

Gerson Lehrman Hires New Asia Head As Part of Expansion Plan 03/04/2016

Gerson Lehrman Group (GLG), the leading expert network, hired a prominent corporate executive to head its Asia-Pacific operations. The move reflects the size of GLG’s business in Asia, and also …

Expert Network Veteran Joins Small Firm ExpertConnect 04/22/2016

Ex-Gerson Lehrman veteran Aaron Liberman is joining ExpertConnect to help grow the expert network.  Liberman was most recently global head of sales for expert network Coleman Research. ExpertConnect is an offshoot …

Gerson Lehrman Loses HR Head During Hiring Binge 05/11/2016

Gerson Lehrman Group’s head of human resources has left to join Shutterstock, a publicly traded commercial imagery provider.  Matthew Jagoda was head of human resources for GLG for over seven …

Former Gerson Lehrman Group Marketer Joins Guidepoint 06/01/2016

The former Global Head of Marketing for Gerson Lehrman Group has joined rival expert network Guidepoint to lead its marketing efforts.  Jennifer Van Ness joined Guidepoint as its Marketing Director. Van …

Big Data Firm Earnest Research Hires Former GLG Sales Head As President 06/06/2016

Alternative data platform Earnest Research has hired Gerson Lehrman Group’s former North American head of financial services business development, Andrew Robson, as President and Chief Revenue Officer. Robson joined leading expert …

Expert Network Coleman Research Hires New Marketing Head 06/30/2016

Coleman Research, a leading US-based expert network, has hired a new head of marketing as the firm continues to expand its staff.  Eva Zaeschmar joined the firm as Chief Marketing …

Expert Network Coleman Research Hires New General Counsel 09/16/2016

Coleman Research, a leading US-based expert network, has hired a new general counsel to replace Brian Moroney who moved to Deutsche Bank in June.   Peter M. Dolezal, who was previously …

Indie Hiring

Wolfe Research was one of the more active hirers during 2016, adding healthcare as it wooed a top-ranked analyst from JP Morgan and poaching a prominent quant from Deutsche Bank.  [Wolfe is no longer technically an independent, having added investment banking, but it still seems that research is the main game with banking as an add-on.]  Roubini made a flurry of hires early in the year, before selling off his firm in May.

Some of the activity reflected new independent shops being formed, as sell-side analysts defected from banks.  Nomura’s top currency strategist and former head of fixed income started a new boutique, a Jefferies M&A analyst set up his own shop, and short ideas activist Muddy Waters hired Pimco staff to branch into credit and money management.

Roubini Hires Ex-Bloomberg Tradebook Manager 01/13/2016

Roubini Global Economics (RGE), a leading macroeconomic research provider, hired a former Bloomberg Tradebook executive to handle its research operations. Andy Hartwill, who was Bloomberg Tradebook’s head of independent research in …

Nomura Strategist Sets Up FX Boutique 01/15/2016

Jens Nordvig, a highly ranked foreign exchange strategist from Nomura Securities, has left to start his own research boutique, Exante Advisors. Nordvig was ranked #1 in Currency Strategy by Institutional Investor …

Roubini Loses Key Asian Staff 01/20/2016

The Asian head of Roubini Global Economics has moved to hedge fund Guard Capital Management, according to a Bloomberg article. Guard Capital, a Hong Kong-based macro hedge fund led by former …

Roubini Hires Research Operations Head 02/02/2016

Roubini Global Economics (RGE), a leading macroeconomic research provider, hired a former Bloomberg Tradebook executive to handle its research operations. Andy Hartwill, who was Bloomberg Tradebook’s head of independent research in …

Former Jefferies Analyst Starts Merger Research Boutique 02/10/2016

A former Jefferies M&A strategist has set up his own research boutique focused on European risk arbitrage. London-based Manalo LLP (www.manalo-llp.com) incorporated in January 2016, and founder Roderick Manalo is …

Founder of Macro Vision Research Joins Rival Boutique 03/16/2016

Talley Léger, founder of macro research boutique Macro Vision Research, has joined a competing independent research firm, Fundstrat Global Advisors, where he will be a Managing Director and Global Strategist. Léger …

Edison Hires New Head of Investment Trusts 04/06/2016

Edison Investment Research, a successful London-based issuer-paid research firm, hired an HSBC banks analyst, Robert Murphy, to head its investment trust research team.  The five-person team writes reports on over …

Boutique Wolfe Research Expands Into Healthcare 04/22/2016

Research boutique Wolfe Research hired a highly ranked healthcare analyst formerly with JP Morgan Chase, representing Wolfe’s first expansion into the healthcare sector. New hire Justin Lake was number one ranked …

Community Banking Boutique FIG Partners Hires Two Sales Traders From KBW 04/25/2016

FIG Partners, a banking boutique specializing in community banks, hired two sales traders from rival Keefe, Bruyette & Woods, a subsidiary of Stifel Financial.  Pete McCorry joined as Senior Vice …

LifeSci Advisors Seeks Pardon For Racy After-Party By Hiring More Women 04/29/2016

LifeSci Advisors, a healthcare investor relations consultancy which offers paid-for research, has been groveling for forgiveness after hosting an after-party which offended gender sensibilities in the biotech industry.  Separately it …

Hedgeye Hires Healthcare Policy Analyst 05/03/2016

Hedgeye Risk Management, an independent investment research firm based in Stamford Connecticut, hired a healthcare policy analyst from Nashville boutique Obsidian Research.  The new hire complements its recent acquisition of …

Argus Research Hires S&P Salesperson 05/05/2016

Independent research firm Argus Research hired a former S&P salesperson to market its research offerings.  Randy Schut joined the firm as a Senior Director of Business Development. Schut worked for 10 …

Short Ideas Provider Muddy Waters Attracts Outside Investors While Shifting To Fixed Income 05/13/2016

Short and shout researcher Carson Block of Muddy Waters hired a PIMCO credit analyst for his new hedge fund affiliate, Muddy Waters Capital.  The move signals a new activist strategy …

Salesperson Defects From SGH Macro to 4CAST-RGE 06/22/2016

Salesperson Robert Hanney left policy research firm SGH Macro Advisors after a year to join newly merged 4CAST-RGE.  Hanney will be a Director of Business Development at 4CAST-RGE, similar to …

Morningstar Hires Nomura’s Head of CMBS Research 06/27/2016

Last week, Chicago-based data, research and analytics firm – Morningstar, Inc. – hired Nomura’s head of CMBS research to lead the structured finance initiatives of its credit ratings group. Morningstar’s New …

On The Mixed Success Of Independents 07/18/2016

eFinancialCareers published an article noting former Jefferies managing director Rod Manalo has left to start his own research boutique focused on M&A transactions, a move we reported over five months …

New Macro Research Firm Launched By Former Normura Research Head 08/24/2016

Des Supple, the former global head of equity and fixed income research at Nomura, started his own research consultancy in the beginning of this year. His new firm, Event Horizon …

William O’Neil Hires Six Salespeople + Tech Analyst 09/08/2016

Research firm William O’Neil + Co. hired six new salespeople, most with bulge bracket backgrounds, as well as a technology analyst as it continues its makeover. Having hired the former COO …

Wolfe Research Woos Star Quant From Deutsche Bank 10/07/2016

Wolfe Research, a prominent research boutique, wooed a high-profile quant from Deutsche Bank to head its quantitative research, portfolio strategy, and economics products.  Yin Luo joined the firm as a …

Issuer-Paid Firm LifeSci Advisors Beefs Up Corporate Access 10/25/2016

LifeSci Advisors, a healthcare investor relations consultancy which offers issuer-paid research, hired a Vertical Research salesperson to add to its corporate access team.  The new hire illustrates the high priority …

Vendor Hiring

Vendors anticipating windfalls from MiFID II added staff.  Research aggregator Smartkarma opened a Hong Kong office and expanded in Europe. Commission management provider Commcise expanded in the US and rival Castine hired the former head of MKM Partners’ commission management offering.  Research budgeting provider FrostRB expanded in Ireland.

London Commission Management Platform Commcise Expands to US 02/01/2016

London-based commission management provider Commcise hired a former Sanford Bernstein salesperson as it opened a New York office. The move reflects recent US client wins for the firm. Commcise hired a …

London Sales Agent Expands 03/18/2016

Fox Institutional Research Services, a London-based outsourced sales agent for independent research, is now representing two additional research providers and has hired a new salesperson. Fox was founded by former BCA …

New London-Based Sales Agent Focuses on Distributing Independent Research 05/04/2016

The co-head of Marex Spectron’s Independent Research & Commission Management Group has left to become a sales intermediary for independent research firms and specialist data providers.  London-based Edward Blad has …

Former MKM Partners Commission Management Head Moves To Fintech 07/20/2016

The former head of commission management for MKM Partners, John McGough, has joined Castine Consulting, a software firm offering commission management tools, along with other fintech products.  MKM Partners hired …

Asian Research Aggregator Smartkarma Expands In Europe 9/12/2016

Smartkarma, a Singapore-based research distribution platform, hired a former PIMCO executive to head its business development efforts in Europe. Tim Bruenjes previously headed PIMCO’s Asian equity and derivatives trading and …

Research Budgeting Platform FrostRB Expands Presence in Ireland 09/19/2016

Frost Consulting, a UK consulting firm focused on research procurement, has engaged the former head of Canaccord Genuity Quest to develop demand for its research budgeting software in Ireland. PJ Davies …

Asian Research Aggregator Smartkarma Opens Hong Kong Office 10/21/2016

Smartkarma, a Singapore-based research distribution platform, opened a Hong Kong office and is hiring sales staff, as the firm continues to expand after receiving a capital infusion June 2016. The new …

Mid-Tier Hiring

Research hiring at mid-sized and regional banks was mostly churn, as the mid-tier firms mostly hired analysts from each other. After Sterne Agee CRT, Topeka Capital Markets, and BB&T Capital Markets shut down their research operations, some of their former analysts found new homes in mid-tier banks.

Seaport Global was the most active hirer among the mid-tier banks, adding ten new analysts, including seven from BB&T.  The second most active was BTIG, which added seven analysts during the year.  Wedbush Securities was the third most active, hiring six analysts of which five were from Sterne Agee CRT.

Loop Capital opportunistically added an equities capability as it hired eight former Topeka Capital Markets analysts and salespeople.  FBR added five analysts over the course of the year, including two bulge analysts and one from Evercore ISI. Jefferies expanded its London equity research staff despite MiFID II concerns, hiring refugees from Nomura’s decision to shut down its European cash equities business.

Healthcare remained the most popular sector for mid-tier hiring, but energy and financial services were also favored, along with the perennially favored technology sector.

IFS Securities Hires Head of Healthcare Research 01/04/2016

Atlanta-based boutique investment bank and broker-dealer, IFS Securities, recently announced the appointment of David Bouchey, Ph.D., as Head of Healthcare Research. In this role Dr. Bouchey will focus on coverage …

CRT Hires Business Services Analyst 01/05/2016

CRT Capital Group, an mid-market investment bank, hired a business services analyst who spent nine years as an analyst at Credit Suisse. Hamzah Mazari is joining the firm as a …

Rosenblatt Hires More Research Staff 01/12/2016

Rosenblatt Securities, a NY institutional brokerage, announced it hired two research analysts and four sales staff as it continues to expand its research capabilities. Kinngai Chan, formerly with LA investment bank …

Mizuho Continues Equity Hiring Spree 01/15/2016

Mizuho Financial Group is steaming ahead with its equity recruiting even as rivals are paring back, according to a Bloomberg article. The firm has added seven Japanese equity staff this month, …

Macquarie Hires US Tech Analyst 01/22/2016

Macquarie’s new US head of research announced her first new hire, a tech analyst from Brean Capital. Sarah Hindlian is joining Macquarie Securities as Senior Vice President covering Enterprise Software …

Mizuho Hires Analysts From Morgan Stanley & Evercore ISI 02/09/2016

Mizuho Securities USA hired a Morgan Stanley REIT analyst as it continues its US equity research expansion. Haendel St. Juste joined the firm as Managing Director and Senior Equity Research …

UK Small Cap Specialist Peel Hunt Hires Morgan Stanley Analyst 02/12/2016

Peel Hunt LLP, a UK small cap specialist broker, hired a Morgan Stanley healthcare analyst as it added healthcare to the sectors it covers. Amy Walker joins the firm from Morgan …

Drexel Hamilton Hires Another Tech Analyst 02/23/2016

Drexel Hamilton, a NY-based mid-market investment bank, hired a media analyst from Janney Montgomery Scott. Tony Wible will be a senior equity research analyst for the Service Disabled Veteran Owned …

Mizuho Hires As Barclays Fires 03/01/2016

Mizuho Financial Group is hiring seven or eight Japanese equity research analysts and salespeople recently laid off by Barclays Plc, according to a Bloomberg article.  Barclays announced the closure of …

Guggenheim Securities Hires Healthcare Analyst 03/10/2016

Earlier this week, boutique investment bank Guggenheim Securities announced the hiring of a new senior analyst to cover the Medical Supplies and Devices sector. New Hire Scheduled to start in April, Christopher

Wunderlich Hires New Head of Institutional Sales 03/17/2016

Wunderlich Securities, a retail-oriented brokerage firm headquartered in Memphis, hired a former Morgan Keegan salesperson as its head of institutional equity sales. Ed Apple, Jr. joined the firm as a …

Seaport Global Securities Hires Shipping Analyst 03/28/2016

Seaport Global Securities, a NY mid-tier investment bank, hired a shipping analyst from Canadian broker GMP Securities.  Magnus Fyhr joined the firm as Managing Director and Senior Shipping Analyst located …

Cowen Hires Tech Analyst 04/04/2016

Cowen Group, a mid-sized NY investment bank, hired a Susquehanna International Group technology analyst.  J. Derrick Wood joined as a Managing Director and senior software analyst covering the enterprise software …

M&A Advisor Hovde Adds KBW Bank Analyst 04/13/2016

Hovde Group, a niche M&A advisor specializing in banks and thrifts, hired a bank analyst from Keefe, Bruyette, & Woods/Stifel Financial as it continues to expand its nascent equity research …

FBR Adds Industrials Analyst 04/11/2016

FBR & Co., a mid-market investment bank, announced it has hired an industrial analyst from Oppenheimer.  Holden Lewis has joined its equity research group covering industrial technology within its Diversified …

Drexel Hamilton Adds Energy Team 04/15/2016

Drexel Hamilton, a NY-based mid-market investment bank, hired two energy analysts, expanding its coverage to four industry sectors.  John Ragozzino joined the firm from RBC Capital Markets to cover the ..

Maxim Hires Consumer E-Commerce Analyst 04/21/2016

Maxim Group LLC, a NY mid-market investment bank, hired a consumer analyst from Brean Capital.  Tom Forte joined as a Senior Vice President, Senior Consumer & Consumer Internet Analyst, focusing …

BTIG Hires Former Barclays Consumer Analyst 04/26/2016

BTIG LLC, a US agency broker turned investment bank, announced it hired a former Barclays consumer analyst.  Alan Rifkin joined the firm as a Managing Director covering the retail hardlines/broadlines …

Evercore ISI Margins Rise in Q1 2016 Resulting In Renewed Hiring 04/28/2016

Evercore ISI’s margins have tripled since Evercore acquired ISI, according to Evercore’s latest quarterly report.  As a reward, Evercore ISI is now allowed to add staff, hiring a #2 ranked …

Vertical Research Partners Hires New Chemicals Analyst 05/05/2016

Recently, Stamford CT-based independent research firm, Vertical Research Partners (VRP), announced that Kevin McCarthy had joined the firm as a Partner to cover the Chemicals sector.  Previously, McCarthy had been …

Despite First Quarter Setbacks, Jefferies Hires London-Based Equity Staff 05/10/2016

Despite taking a bath in the first quarter results for its equities business, Jefferies Group is hiring new London-based equity staff, including poaching a senior UBS analyst, according to an …

BTIG Hires Real Estate Analyst 05/17/2016

BTIG LLC, a US agency broker turned investment bank, hired a real estate analyst formerly with independent John Burns Real Estate Consulting.  San Franciso-based Carl Reichardt, Jr. joins the firm …

Mizuho Americas Hires Barclays Energy Analyst 05/18/2016

Mizuho Americas hired an energy analyst from Barclays Capital as it continues its equity research hiring spree.  Brian Zarahn, CFA, joined the firm as Managing Director covering Energy Infrastructure and …

JMP Securities Hires Alternative Energy Analyst 05/19/2016

JMP Group, a San Francisco based investment bank, hired an alternative energy analyst, bringing its equity research staff to 25 analysts.  Joseph Osha has joined JMP Securities as a managing …

BTIG Hires Oppenheimer Biotech Analyst 05/24/2016

BTIG LLC, a US agency broker turned investment bank, hired a former Oppenheimer & Co healthcare analyst.  Ling Wang, CFA joined the firm as a Director and Biotechnology Research Analyst …

Janney Experiences Shuffle in Research and Sales 06/09/2016

Recently, Philadelphia-based Janney Montgomery Scott dropped coverage of all gambling stocks as its casino and hotel analyst left the firm.  Additionally, the firm’s MLP analyst also departed.  However, the firm …

FBR Hires Stifel Real Estate Analyst 06/22/2016

FBR & Co., a mid-market investment bank, announced it has hired a real estate analyst from Stifel Financial.  David Corak, CFA, joined as Vice President, Research Analyst responsible for covering …

FBR Hires Two Bulge Energy Analysts 06/28/2016

FBR & Co., a mid-market investment bank, announced it has hired two former bulge bracket energy analysts.  Joseph Allman joins the firm as a Managing Director covering Exploration and Production …

BTIG Hires 3 Former Cowen REIT Analysts 07/12/2016

BTIG LLC, a US agency broker turned investment bank, continued its research hiring spree by hiring 3 REIT analysts formerly employed by Cowen and Company. James Sullivan, who was previously Head …

Vertical Research Brings on New Partner to Add Aerospace and Defense Coverage 07/19/2016

Earlier this week, Stamford, CT based independent research firm, Vertical Research Partners (VRP) announced that it had brought on Robert Stallard as partner to cover a new sector for the …

Drexel Hamilton Moves Analyst To Banking 08/02/2016

Drexel Hamilton, a NY-based mid-market investment bank, shifted its bank analyst to its investment banking team as a senior coverage officer focused on banks and other financial institutions.   David Hilder …

Macquarie Hires Former Sterne Agee CRT Business Services Analyst 08/04/2016

Macquarie Securities hired a business services analyst from Sterne Agee/CRT.  Sterne Agee CRT was shut down last month about one year after the acquisition of Sterne Agee’s equity business. Hamzah Mazari …

Loop Capital Opens Equity Research Business After Topeka Capital Shut Down 08/04/2016

Chicago-based investment bank, Loop Capital Markets, announced that it was expanding its cash equities business to add an equity research group, hiring analysts recently laid off as Topeka Capital Markets …

Seaport Global Hires Two Ex-Sterne Agee CRT Analysts 08/09/2016

Seaport Global Securities, a NY mid-tier investment bank, hired two former Sterne Agee CRT analysts covering the industrials sector.  The firm has also added nine salespeople and sales traders over …

Mizuho Americas Hires Sterne Agee CRT Energy Analyst 08/16/2016

Mizuho Americas hired a former Sterne Agee CRT energy analyst, its fourth research new hire so far this year. Timothy Rezvan, CFA, joined the firm as a Managing Director covering …

German Boutique Bank Uses Issuer-Paid Model to Fund Research 08/18/2016

M&A advisory boutique goetzpartners Corporate Finance GmbH is expanding its equity research team in London, according to an article in eFinancialCareers.com.  The Munich-based firm has also adopted an issuer-paid business …

Fraction Of Sterne Agee CRT Analysts Find Jobs 08/22/2016

Not quite one-third of analysts laid off by Sterne Agee CRT have found new jobs, according to a recent article from S&P Global Market Intelligence. Of the fifty analysts employed by …

Jefferies Hires Nomura Refugees 08/26/2016

Jefferies is building its London equity research team, partly through hiring of former Nomura analysts after Nomura shut down its European equities business, according to an article in eFinancialCareers.com. Alix Turner, …

Wedbush Securities Adds Five Former Sterne Agee CRT Analysts 08/29/2016

Wedbush Securities, a Los Angeles-based mid-tier investment bank, will be hiring five former analysts from Sterne Agee CRT, according to an article from S&P Global Intelligence.  The move is part …

Chardan Capital Markets Hires Leerink Healthcare Analyst 09/14/2016

Chardan Capital Markets, a NY-based investment banking boutique, hired a Leerink Partners analyst as it expands its healthcare coverage.  Steve Wardell joined the firm as a Senior Equity Research Analyst …

CLSA Americas Adds Two New Analysts 09/19/2016

Last week, CLSA Americas, the US subsidiary of Hong Kong-based investment bank CLSA, added two senior analysts to its research team, bringing the total number of US-based publishing equity analysts …

Berenberg Continues Counter-Cyclical Hiring With Four New London Analysts 09/21/2016

Berenberg, a Hamburg-based private bank which grew its equity commission business 31% last year, has hired four new research analysts in its London office, according to an Financial News article. Berenberg …

Nomura Hires US Healthcare Analyst As It Anticipates ‘Boutique’ Approach 09/29/2016

Despite its April vow to ‘streamline’ its US equity research, Nomura couldn’t resist hiring a biotech analyst from Oppenheimer & Co. Christopher Marai, Ph.D., joined the firm as a Managing Director …

Stephens Hires Financial Services Analyst From Macquarie 09/30/2016

Stephens, a mid-tier investment bank based in Little Rock Arkansas, hired a former Macquarie Group financial sector analyst and promoted a junior analyst to cover aerospace and defense. Vincent Caintic joined …

FBR Hires Evercore ISI Bank Analyst 10/04/2016

FBR & Co, a mid-market investment bank, hired a bank analyst from Evercore ISI.  Stephen Moss joined as a Senior Vice President responsible for expanding FBR’s bank coverage.   headquarters. FBR currently …

Piper Jaffray Adds Healthcare Analyst From Wedbush 10/06/2016

Piper Jaffray, a mid-tier investment bank, hired a healthcare analyst from Wedbush Securities.  Sarah James joined as a senior research analyst covering hospitals and managed care companies. Piper Jaffray has 41 …

Seaport Global Hires Seven Former BB&T Analysts 10/19/2016

Seaport Global Securities, a NY mid-tier investment bank, continued the opportunistic expansion its equity research by hiring seven former BB&T Capital Markets analysts in the wake of BB&T’s July decision …

BTIG Hires Ladenburg Thalmann Biotech Analyst 10/27/2016

BTIG LLC, a US agency broker turned investment bank, hired its second biotech hire this year as it continues to expand healthcare coverage.  Robert C. Hazlett, III joined the firm …

Wedbush Hires Susquehanna Retail Analyst But Overall Research Staffing Isn’t Growing 11/03/2016

Wedbush Securities, a Los Angeles-based mid-tier investment bank, hired a retail analyst from Susquehanna International Group as other mid-tier firms contract their research staff.  However, Wedbush’s new research director appears …

Brean Capital Adds Regional Banking Analyst 11/03/2016

Earlier this week, New York-based boutique investment bank, Brean Capital, LLC, announced the hiring of 14 year industry veteran Blair Brantley, CFA as Managing Director and Senior Equity Research Analyst …

Guggenheim Partners Adds Senior TMT Analyst 11/07/2016

New York-based investment bank, Guggenheim Partners, recently announced that it had hired Institutional Investor ranked analyst Jonathan Schildkraut as Senior Managing Director and Senior Analyst in its sell-side equity research …

Guggenheim Securities Hires Again, Adding a Sterne Agee CRT Tech Analyst 11/09/2016

Guggenheim Securities, the investment banking subsidiary of Guggenheim Partners, announced a second research hire in the space of a week, adding a technology analyst from Sterne Agee CRT.  The new …

Evercore ISI Sets Up Commission Management With Former Merrill Staff 11/30/2016

Commission management veterans Bill O’Connor and Bob Nowicki have been hired by Evercore ISI to establish a commission management offering, as Evercore continues to build out its cash equities business. Bill …

Odeon Capital Hires Desk Analyst 12/08/2016

Odeon Capital, a small New York-based investment bank focused on sales and trading, decided an equity desk analyst would be a better fit for its equities platform than a traditional …

Cantor Fitzgerald Hires 2 Healthcare Analysts As It Narrows Focus 12/16/2016

Cantor Fitzgerald, a mid-tier NY investment bank, hired two healthcare analysts, doubling down on healthcare as it has reduced coverage from six verticals to just three. The firm hired former Guggenheim …

Bulge Hiring

Deutsche Bank Exits Russia and Expands Research in Dubai 01/27/2016

Deutsche Bank AG recently announced that it was expanding its emerging markets research team in the Dubai by relocating three equity research analysts from its Moscow office. Details of Move The three …

Citi and UBS Make Some Big Research Hires in Europe 08/01/2016

According to efinancialcareers.com, UBS and Citibank recently made some significant staffing moves within their European research businesses to better position the firms for the pending changes associated with MiFID II. New …

Goldman Names Australia Equity Research Heads 11/25/2016

New York-based investment bank, Goldman Sachs, has recently named three senior equity research professionals to co-head their Australia equity research business located in Melbourne and Sydney. New Co-Heads Named Earlier this week, …

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About Author

Sandy Bragg is a principal at Integrity Research Associates. He has over thirty years experience as an investment research professional. Prior to joining Integrity in 2006, he was an Executive Managing Director at Standard & Poors, managing S&P’s equity research business and fund information properties. Sandy has an MBA from New York University and BA from Williams College. Email: Sanford.Bragg@integrity-research.com

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