Recently, global investment bank Mizuho Americas announced the hiring of Gabriel (Gabe) Moreen to cover Master Limited Partnerships (MLPs) as a member of its energy equity research team.
Mizuho’s New Hire
Mr. Gabriel Moreen, a nine time Institutional Investor’s All-America Research Team analyst, will join Mizuho as Managing Director and senior analyst covering the Master Limited Partnerships as a member of the bank’s energy research team. Prior to his new role, Moreen worked for a brief time at Deutsche Bank Securities, Inc. Prior to his stint at Deutsche Bank, Mr. Moreen spent almost twelve years at Bank of America Merrill Lynch covering both Natural Gas stocks and MLPs. Gabe started his career on Wall Street at JP Morgan Securities Inc. where he spent two and a half years an associate analyst and member of the natural gas equity research team. Mr. Moreen graduated from Princeton University with an A.B. degree in politics, with a certificate in political economy.
Susan Gilbertson, Mizuho’s Head of U.S. Equity Research explained the new hire, saying “Gabe’s extensive experience and corporate relationships will be immediately accretive to our highly regarded energy practice at Mizuho. This addition adds to the depth and breadth of our research offering in this strategically important sector, to the benefit of our clients.”
Gabe Moreen will be stationed at Mizuho’s New York office and will report to US Equity Research Head Susan Gilbertson.
Mizuho’s growing US equity research team includes sector analysts in energy (MLPs, oil and gas exploration & production, utilities); healthcare (biotechnology, healthcare services, specialty pharmaceuticals); technology (hardware/software, internet, semiconductors); and REITs.
Although Mizuho is not one of the “Big Four” Japanese securities houses, it has been one of the few sell-side firms which have been aggressively expanding its cash equities business over the past few years. In addition to Mr. Moreen, the firm has added 2 other new members of its US research team in 2018, including top-rated oil and gas analyst Paul Sankey; and Susan Gilbertson, the Head of US Equity Research, who were both hired in May.
Given the opportunistic way Mizuho has expanded its cash equities and research business in the US, we would not be surprised to see Mizuho add more research analysts in the future – particularly as it identifies high quality analysts who have been orphaned as other sell-side banks reduce headcount or shutter their research businesses altogether. However, the pressures brought on by MiFID II are likely to cause the firm to focus on quality versus quantity in an effort to win an increasing share of asset managers’ shrinking research wallet.