New York, NY – It is with great excitement that Integrity Research Associates announces that it has established a strategic alliance with global investment bank, UBS. This alliance will enable Integrity to market our suite of research advisory services to UBS’s hedge fund and long only clients. In addition, UBS will become Integrity’s preferred provider of commission management services to help facilitate client payments for our services and the research recommended by the firm.
In recent years, Integrity has been expanding its coverage of international research, analytic tools, databases, and unique industry consultants. The partnership with UBS will allow the firm to expand its coverage of these markets more quickly.
The partnership with UBS will also enable Integrity to greatly expand its analytical capabilities, both in the U.S. and abroad. We will be adding additional products in the coming months. For example, we recently launched ResearchFocus, which provides “buyer’s guides” on key alternative research segments. Earlier this week, we released a review of expert networks, adding to our existing reports on forensic research and earnings quality providers, short ideas providers, and U.S. small cap research. Upcoming reviews will cover channel checking, policy research, among other topics.
The team at Integrity decided to partner with UBS for a number of reasons, including the high quality of UBS proprietary research, the bank’s strong global presence, and the firm’s interest in developing a unique strategy in the third party research industry.
UBS has purchased a minority interest in Integrity, reflecting UBS interest in participating in the growth of alternative research. UBS has no involvement with Integrity’s analytic processes, and no access to client searches or other confidential information. All the work Integrity does for clients is covered by confidentiality agreements, which preclude the sharing of information about the search with any third party, including UBS.
The press release follows.
UBS Investment Bank Announces Minority Stake in Research Advisory Firm Integrity Research
New York, March 6, 2008 – UBS announced today that it has purchased a minority stake in Integrity Research Associates LLC, a leading research advisory firm that offers access to sources of alternative research, including channel checkers, expert networks, environmental research and other non-traditional providers. Terms of the investment were not disclosed.
Through the arrangement, UBS will be able to facilitate access to Integrity’s ResearchSelect® services evaluating over 1,600 alternative research firms around the globe. Integrity’s services, which identify and recommend research services to institutional investors, are currently available in the U.S. with a global rollout planned later this year. Integrity’s services are objective, confidential and customized to meet specific research needs.
“Clients are increasingly demanding non-traditional sources of research that give them increased opportunities to capture alpha,” said Mark Steinert, Global Head of Equity Research at UBS. “Our partnership with Integrity will give clients access to high-quality, relevant sources that give them the information that they need to execute their investment strategies.”
Integrity, first established in 2003, addresses the buy-side’s growing need to manage external research. “Integrity was the first firm to cover the full spectrum of alternative research providers.” said Michael Mayhew, Chairman and Founder of Integrity. “Working with UBS, we will continue to expand our global coverage, reflecting the rapid growth in both the number and variety of research providers. Clients will continue to benefit from our confidential, high touch service customized to their research requirements.”
“Integrity will complement the advice offered by our analysts – clients will now have entry to meaningful, hard-to-find research that augments fundamental advice from UBS as a top global research provider,” added John Ingrilli, Chief Operating Officer of Equities Americas at UBS. “We offer clients the rare combination of leading research, best in class alternative sources and a full suite of trade execution services, leveraging the abilities of our state of the art Commission Management platform. ”
UBS has a dedicated Commission Management team that will work closely with Integrity to simplify clients’ procurement and management of the recommended third party research while ensuring strict confidentiality.
In the news:
Reuters – UBS buys stake in alternative research firm