Ex-Citi analyst leads new research boutique
A group of financial services professionals from the buyside and the sellside have teamed up to launch their own equity research boutique, joining a wave of new start-ups from analysts that have found themselves out of work because of the financial crisis.
Consumer Equity Research received FSA authoristation this month and will begin publishing research in the middle of September.
The group will be chaired by Seth Peterson, a former senior analyst at Citigroup covering the European household and personal care sector.
The group has three other principals: Charles Allen, an ex-fund manager at Crédit Agricole, Edward Ritchie, formerly at Schroders and Lazard, and James Targett, previously a small-cap and European consumer analyst at Goldman Sachs.
The business will be solely focussed on global consumer stocks, according to a release, and will target institutional investors active in the sector. The business was funded almost entirely out of the principals' own pockets.
Peterson said: "Our long-term thematic research will be the opposite of the current glut of reactive, maintenance product.”
Consumer Equity Research is one of several start-up research houses to have emerged since the financial crisis. Stuart Graham, the former head of European banks equity research at Merrill Lynch, and Andrew Crean, the former head of European insurance equity research at Citigroup, founded London-based Autonomous Research over the summer with a focus on banking and insurance.
In the US leading banks analyst Meredith Whitney, who shot to fame after correctly predicting the financial crisis, left Oppenheimer & Co in February to launched her own firm Meredith Whitney Advisory Group.
--write to lvaughan@efinancialnews.com
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