Seaport Global Securities Adds Healthcare Coverage

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Regional investment bank Seaport Global Securities, recently announced the addition of Managing Director and Senior biotechnology and specialty pharmaceuticals analyst Vernon Bernardino.  With the addition of Bernardino, Seaport is launching its equity research coverage in the healthcare sector.

Seaport’s Newest Research Hire

Mr. Vernon Bernardino joins Seaport Global Securities following a 14 career on both the sell-side and buy-side as an equity research analyst.  In addition, he spent 11 years in the pharmaceutical industry as a research scientist.  Besides his own coverage responsibilities in the biotechnology and specialty pharmaceuticals sectors, Mr. Bernardino will also head up a new healthcare research team for Seaport Global.

Prior to joining Seaport, Vernon Bernardino spent almost 2 years at FBR & Co. and 4 years at MLV & Co. (which was acquired by FBR in September, 2015) covering biotech and specialty pharmaceuticals companies.  Previously, Bernardino worked as an equity analyst for Brinson Patrick Securities, Dawson James Securities, Rodman & Renshaw, Sturdivent & Co., and Nicholas Applegate Capital Management.

Early in his professional career, Bernardino worked as a VP of business development and research scientist at Zephyr Sciences, Corvas International, and Schering-Plough.  Vernon holds a bachelor’s degree in biological sciences from Rutgers University and an MBA in finance from the University of San Diego.

Ed Lainfiesta, Managing Partner of Seaport Global, commented on Bernardino’s hiring, “We are pleased to have Vernon join the equity research team and launch our healthcare research product. He brings significant industry and Wall Street experience that is critical to this highly dynamic industry.”

Our Take

With research offices in Houston, Chicago, New York and Southern California, Seaport Global’s research team currently includes more than 20 analysts covering over 600 companies in the energy, industrials, mining and metals, chemicals, shipping, and now healthcare industries.

Over the past twelve months, Seaport Global has been aggressively expanding its research team adding at least 11 new analysts and 1 research salesperson (Seaport Global Adds to Equity Research Team,  and Seaport Global Hires Seven Former BB&T Analysts).

Consequently, the addition of an experienced senior analyst like Vernon Bernardino fits the firm’s recent counter-cyclical behavior.  Even adding a whole new research coverage area like healthcare is not terribly surprising as investment banking activity in the healthcare sector has been hot over the past few years.

However, the big question is whether Seaport Global will be able to withstand the pressure of a weak U.S. cash equities business and the move by a growing number of asset managers to unbundle research payments from trading altogether.  Only time will tell if Seaport Global’s gutsy research strategy will pay off.

 

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About Author

Mike Mayhew is one of the leading experts on the investment research industry. In addition to founding Integrity Research, Mike is on the board of directors of Investorside Research Association, the non-profit trade association for the independent research industry, and a frequent speaker on research industry trends and developments. Mike has over thirty years of research industry experience. Email: Michael.Mayhew@integrity-research.com

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