UK’s Top-Ranked Analysts Launch Independent Research Firm

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New York – Top-ranked ex-sell-side analysts in the UK launched Autonomous Research, a boutique research house focused on the financial services industry.

Autonomous Research breaks into the independent research space with a team of first-tier analysts. Some of the team members include Stuart Graham, a former Merrill Lynch European banks analyst; Andrew Crean, a former Citigroup insurance analyst; and Corinne Cunningham, a former RBS credit analyst.

According to the Financial Times, the firm’s business model does not include a retainer fee. Autonomous Research is committed to building long term relationships with its clients through excellence in service and research at a “transparent and competitive price.” Furthermore, the firm is planning to limit its clientele to 100 institutional investors.

“When we get to 100, we close the door,” Stuart Graham, CEO, told the Financial Times. “This is not a pile-it-high, sell-it-cheap model.”

Since the insertion of Arete in 2000 by ex-Goldman Sachs technology analyst Richard Kramer, the UK independent research space has not seen new entrants established by former top-ranked analysts. This trend differs from the US independent research industry where former sell-side analysts have tapped into the industry’s maturity to set up shops. Starting in 2006 with Dana Telsey (ex-Bear Stearns), this trend in the US continued in 2007 with Ivy Zelman (ex-Credit Suisse), followed in 2008 by Ed Wolfe (ex-Bear Stearns), and most recently with Meredith Whitney (ex-Oppenheimer).

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