New York – Ned Davis Research (NDR), a US-based provider of financial research to institutional investors, has appointed a new CEO. Michael Sanders is stepping down as Executive Director and Eric Lankinen will join the firm as CEO.
Earlier in the year, Euromoney Institutional Investor PLC, an international publishing, events and information group based in London, acquired an 87% interest in NDR. The incoming CEO, Eric Lankinen, will assume the role after 25 years at BCA Research, a Montreal-based provider of investment strategy research which was also acquired by Euromoney in 2006.
The appointment of Mr. Lankinen makes sense given the success story that Euromoney had with BCA Research. Particularly after Euromoney’s acquisition, BCA enjoyed robust growth, has added key products, services and personnel, and has substantially enhanced its coverage of international markets. Now the question is whether Mr. Lankinen can repeat the trick with NDR.
One interesting challenge for Mr. Lankinen is the potential cannibalization of customers by BCA and NDR. Current users of one firm seem natural clients for the other – particularly in North America where NDR is strongest. The real opportunity for NDR will be to leverage Euromoney’s international presence to grow its customer base outside of North America. Fortunately, NDR’s new CEO receives a firm with a highly satisfied customer base and with reputable products and services. That could provide a solid base to repeat the BCA marvel.