Mizuho Americas Adds Senior Consumer Equity Research Analyst

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Last week, global investment bank Mizuho Americas announced the hiring of John Baumgartner, CFA, as Managing Director and Senior Consumer Equity Research Analyst covering the US food industry. 

Mizuho’s Recent Analyst Hires

Following a career of close to 17 years as a sell side analyst covering food, agribusiness and commodities, John Baumgartner, CFA recently joined Mizuho Americas as Managing Director and Senior Equity Research Analyst covering the US food industry, including plant-based alternatives and healthy lifestyle companies.

Prior to joining Mizuho, Mr. Baumgartner spent 9 years at Wells Fargo Securities where he served as Director of Equity Research for Food and Agribusiness. Prior to that, John spent more than two years as the Senior Equity Research Analyst for U.S. Food at Telsey Advisory Group.  Earlier in his career, Baumgartner spent a combined six years at Goldman Sachs, Wachovia Securities, and Banc of America Securities. Baumgartner holds a Bachelor of Science degree in Finance, with Highest Honors, from Rutgers University.

Susan Gilbertson, Managing Director and Head of US Equity Research, commented on the hiring, “Over a year into the coronavirus pandemic, consumers are more focused on healthier eating habits. As a result, plant-based eating has become more mainstream and companies are working on innovative ways to bring these types of products to market as soon as possible.  Against this backdrop, we are excited to add John’s deep consumer industry expertise to expand our research coverage.”

In addition to Baumgartner, Misa Batcheller also joined Mizuho.  Batcheller, spent almost 6 years at Wells Fargo Securities, where she served as an Equity Research Associate for consumer packaged food (CPG) and an Economic Research Analyst.  Batcheller holds a Bachelor of Arts in Economics, from Wake Forest University.

John Baumgartner, CFA will be based in NY and will report to Head of US Equity Research, Susan Gilbertson.

Our Take

Mizuho’s growing US equity research team includes sector analysts in consumer /retail; energy (MLPs, oil and gas exploration & production, utilities); healthcare (biotechnology, healthcare services, specialty pharmaceuticals); technology (hardware/software, internet, semiconductors, and FinTech); and REITs.  Mizuho’s global equity research team is comprised of approximately 65 economists, strategists and research analysts in Japan, Hong Kong and the US, providing macro insights and proprietary analysis and recommendations on some 900 companies in Asia and the Americas.

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 equity research franchise over the past few years.  During the 3rd Quarter of last year, Mizuho added Dan Boyd as senior equity research analyst covering energy stocks. In the 2nd Qtr, Mizuho hired Dan Dolev as Managing Director and senior equity analyst covering Financial Technology companies.  Late in 2019, Mizuho added Omotayo Okusanya to co-lead the coverage of the REITs sector, and Vamil Divan, MD as senior healthcare analyst covering large cap pharma and biotech companies.  The recent hiring of John Baumgartner  makes sense as it is consistent with Mizuho’s pattern of expanding its equity research coverage by hiring experienced research analysts.

Mizuho has been extremely opportunistic in growing its cash equities and research business in the US over the past few years.  We suspect the firm is likely to continue this approach for the foreseeable future – particularly as it sees peers reducing analyst headcount or shuttering their research departments altogether.  However, the pressures caused by MiFID II and more recently by the global COVID-19 pandemic should prompt Mizuho to continue focusing on quality versus quantity as they expand their equity research franchise.

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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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