Who is hiring equity research professionals? Big data analytics firm 1010data is recruiting for an open Equity Research and Data Analyst position with previous experience on the buy-side or sell-side. The firm has been building an in-house equity research team since 2013.
According to the position description: “We are looking for a bright, intellectually curious Equity Research Analyst to help equity-focused clients effectively utilize our data, technology, and analytic offerings and to guide product development priorities.”
The Equity Research position is part of 1010data’s sales organization because it is viewed as a client support function for one segment of its client base, but the role is matrixed with product management to provide input on new product ideas. The primary duties are to support clients as they use 1010data’s system and to support the sales team with new prospects.
However, the role also involves creating original research, ranging from short weekly notes to clients to more substantial research papers that contain insights leveraging 1010data’s datasets as well as news and other information sources.
1010data’s core equity research offering is transaction data reflecting credit card purchases and online and mobile spending. The company also has extensive residential and commercial building data.
The equity research team currently consists of around four analysts, some of whom have been with the company since 2013. Backgrounds include alternative data pioneer Majestic Research (now M Science), retail boutique Telsey Advisory Group and the buy-side including long/short equity hedge funds.
1010data was acquired in 2015 by Advance/Newhouse for $500 million at a rich multiple. The firm was founded in 2000 by ex-Wall Street techs to manipulate large data sets of exchange data and has evolved into analyzing large-scale data in the retail, manufacturing and telecommunication sectors, as well as a continuing focus in the financial sector.
1010data is one of the most visible big data players with a long-standing commitment to equity research applications. Although investment analysis is a small part of its overall business, this is not a negative, especially since it is targeting retail companies directly, which can improve the quality and depth of its retail data for investment analysis. Having an exclusive focus on investment research is not necessarily an advantage in the alternative data space.
1010data’s hiring plans signals that the firm is growing its business in the investment segment, despite strong competition from firms like M Science, Earnest Research, 7 Park Data and others.