A New European Research Firm


New York – Another alternative European research provider has been formed, as two heads of equity research teamed up to create Willis Welby LLP. Their website is in beta, but their coverage includes Consumer non-durables, Food, Major Diversified, Producer Manufacturing and Auto Parts.

The partners will include Tony Willis, Max Welby and Gareth Rudd, after Gareth Rudd formally joins in May.  Tony Willis was the head of equity research at BZW in the 1990s at the same time that Max Welby was head of sales. Gareth Rudd and Max Welby intersected at ABN Amro where both were traders in the Principle Strategies area.

Their research product relies on Multi-Company Discounted Cash Flow analysis as well as the long-term Intrinsic Return on Capital Employed.  From these elements industry views and then individual stocks are analyzed.


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