New York – A press release from Credit Suisse yesterday indicates that the company will produce an “alternative energy” research team to cover this growing area. Credit Suisse has tapped Mark Flannery and Edward Westlake to head up alternative energy research.
The announcement is just the opening salvo in the expected positioning that will be taking place in this space. An example is the rise in prices of farmland in the corn belt, related to the production of Ethanol.
Additionally, so called SRI research firms (Socially Responsible Investments) have been propagating quickly in recent years, with the Sell-side taking a greater interest in the space. For example, Goldman’s Hudson Street offering includes Asset4, which could loosely be referred to as a SRI research firm. More technically, Asset4 is an ESG (Environmental, Socially Responsible, Governance) product which views corporate governance alongside of the environmental and social responsibility issues of particular companies.
The Credit Suisse team will cover all of the alternative energy sources and applications, including both fuel alternatives and electrical alternatives, including wind, solar, tidal and geothermal power, as well as products such as fuel cells and hybrid vehicle technology. The full list can be found in the press release.
The full press release is included below:
March 06, 2007 06:23 PM Eastern Time
Credit Suisse Announces Expanded Equity Research Coverage of Alternative Energy
Mark Flannery and Edward Westlake to Lead Effort
NEW YORK–(BUSINESS WIRE)–Credit Suisse announced today that it will significantly expand research coverage of the Alternative Energy Sector with Mark Flannery and Edward Westlake jointly leading the effort. The Alternative Energy Sector encompasses (among other things) Wind Power, Solar Power, Bio-fuels, Geothermal Power, Hydropower, Wave Power, Coal-to-Liquids, Gas-to-Liquids, Hybrid Vehicle Technology & Fuel Cells and Batteries.
The theme of Alternative Energy encompasses important developments in political, social and economic spheres and has potentially serious implications for many other sectors. Credit Suisse has, for some time, produced valuable research in some of the Alternative Energy sub-sectors. However, going forward, this research will be presented with greater depth and a more global view.
Mark Flannery, is a Managing Director and Head of Global Energy Research at Credit Suisse. Mark is currently based in New York, after serving in similar roles for Credit Suisse in Hong Kong and London. Mark currently covers the large integrated oil companies and the independent refining sector in the U.S. Ed Westlake is a Managing Director and co-heads the European Energy Research team in London.
“I see this as an important first step in Credit Suisse’s effort to supplement our client-centric product offering with thematic Equity Research on some of the most pressing global issues of the day,” says Stefano Natella, Global Head of Equity Research. “Mark and Ed’s vast experience uniquely qualifies them as leaders for this global Alternative Energy research effort. Furthermore, coverage of Alternative Energy is in line with Credit Suisse’s strategy in Equity Research — to build the most profitable, intelligence-based department who delivers the best ideas to targeted clients,” says Mr. Natella.
About Credit Suisse
As one of the world’s leading banks, Credit Suisse provides its clients with investment banking, private banking and asset management services worldwide. Credit Suisse offers advisory services, comprehensive solutions and innovative products to companies, institutional clients and high-net-worth private clients globally, as well as retail clients in Switzerland. Credit Suisse is active in over 50 countries and employs approximately 45,000 people. Credit Suisse’s parent company, Credit Suisse Group, is a leading global financial services company headquartered in Zurich. Credit Suisse Group’s registered shares (CSGN) are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com
In its Investment Banking business, Credit Suisse offers securities products and financial advisory services to users and suppliers of capital around the world. Operating in 57 locations across 26 countries, Credit Suisse is active across the full spectrum of financial services products including debt and equity underwriting, sales and trading, mergers and acquisitions, investment research, and correspondent and prime brokerage services.
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