Welcome to our first ever edition of Professional Buyer Rising Stars!
A niche field in the broader investment industry, manager research is not for the faint-hearted. Top companies need inquisitive analysts who are paying attention to new approaches in the space and can unearth the truth in any portfolio manager’s pitch.
That’s why the Citywire editors had a tough time whittling the number of applicants down to 40. Our select list is based on nominations made by industry peers or managers. Among the nominations, we identified the gatekeepers who met the inclusion criteria for this publication, which included being under the age of 40 and US-based. Additionally, companies could have no more than two representatives. We then built a list based on professional qualifications, academic achievements and the importance of the roles they play at their companies.
We asked our 40 rising stars to share advice they would give their younger self, the worst job they have ever had, their dream mentor and, for a more light-hearted look at the people behind the qualifications, who they would pick to be stranded on an island with.
Editor, Citywire USA
We are proud to champion this new wave of young professionals in manager research, who are committed to improving the industry from their position of influence within their companies.
Senior Analyst, Northern Trust
managing the fixed income manager roster
what Advice would you give your
‘Be present (and go long Treasurys in 2007)’
Neal Barrett started his career at Morgan Stanley, where he analyzed fixed income and securitized products. From there, he moved on to the credit team at RBS, before joining the investment management group at A.G. Bisset Associates, where he worked for seven years. As a senior member of the manager research investment team at Northern Trust, Barrett uses his buyside experience to support the due diligence process he puts managers through. His colleagues say he consistently challenges the status quo and has brought to fruition new strategies that should benefit Northern Trust clients for years to come.
Portfolio manager, Baird
Investment manager due diligence, portfolio modeling
‘Hard work pays off, but never compromise on your values’
Aaron Benson is a veteran member of the Baird team, having been with the firm for more than 12 years. Benson began his career as a senior performance analyst and has since expanded his role to include work on the ‘Align’ model portfolios and investment manager due diligence for Baird’s portfolios. He is a member of the CFA Institute and the CFA Society of Milwaukee.
Senior investment analyst, SEI
covering US Small, SMID and mid caps and Real Estate, manager research and selection
Who is your dream mentor?
‘Michael Mauboussin. He has interesting views on the impact that investors’ actions and biases have on the pricing of securities. His research is highly relevant to understanding where investment managers can derive an edge, relative to others’
As a 12-year veteran of SEI, Joseph Bozzuto is known for his due diligence skills and vast knowledge of the managers in his space. Bozzuto started at SEI as a transaction manager before moving over to the investment team, first as a product manager and then as an analyst. He has covered the US small and mid-cap equity space for almost six years.
Due diligence analyst, LPL Financial
Due diligence, analysis of mutual funds and institutional separate accounts
What is the worst job you have ever had?
‘Golf course range boy. I’ve never seen such evil in a human’s eyes as when golfers on the practice tee see a range boy come out to pick up golf balls’
After working in the high-net-worth client space for three years at Vanguard, Kyle Cheadle joined LPL Financial as an analyst in Charlotte, North Carolina, in 2015. Having covered large cap, small cap, all cap, multi-asset and unconstrained eclectic categories in his tenure on the team, his experience stretches across various asset classes. Today, he is part of the revamped research team, with a more focused approach to ESG investing. He is also a member of the equity, fixed income and multi-asset teams within LPL.
Director of portfolio strategy and market research, The Coury Firm
portfolio construction, third-party manager selection, investment committee member
If you were stuck on a desert island, who would you choose to be stranded with?
‘Andrew Carnegie. I love his industriousness and how he became a titan of his industry after starting from nothing. I also admire how he succeeded based on his knowledge and work ethic, capitalizing on every opportunity he could’
Jonathan Dane started his working life as the founder of technology support firm ITDoctors. From there, he moved into finance, first at PNC and then as an equity research associate at Jefferies. He spent nearly two years as an associate at Goldman Sachs, before joining the Coury Firm as director of portfolio strategy and research in 2016. He is known within Coury for his unique approach to manager due diligence, which blends quantitative and qualitative factors in order to find top talent.
Chief operating officer and director of research, Next Capital Management
New York, NY
Manager sourcing, due diligence, portfolio construction, strategic direction
‘Chris Lees from JO Hambro. Many know how to analyze financial statements, but Chris has an uncanny ability to understand the complex variables that impact markets’
Ryan Davis started his career interning at Maryland wealth manager Fortigent. After a stint as an economist at the Bureau of Labor in Washington, DC, he returned to Fortigent as an alternative investments analyst, before heading to New York in 2015 to join Next Capital Management, where he has been since. Davis’s nominator said his passion and intellectual curiosity are unmatched.
Director of research, Adviser Investments
running the research and investments group, senior investment committee member
‘The analyst in me has so many questions. How long am I there? Is there a chance of rescue? Questions aside, I’d take Bear Grylls, for his experience and survival skills. Plus, people would eventually come looking for him’
Jeff DeMaso started his career in 2005 as an intern for Kolbren Insight Management, where he eventually became the manager of fund research. In 2011, he joined Adviser Investments, where he now leads the analyst team. DeMaso was instrumental in adding Bryan Krug of Artisan High Income to the firm’s roster within months of the opening of the fund. The fund has since proven to be one of the best-performing funds in its peer group, ranking 16 out of 255 high yield funds over three years. The fund had no track record, but DeMaso noticed that Krug did.
Research analyst, UBS
covering large-cap value and equity income, due diligence across equity for the Investment Manager Research team
‘I delivered pizzas for a couple of summers in college. My car never smelled the same again’
Christopher Dionisopoulos started his career at UBS as a client service associate. From there, he moved on to associate director, focusing on research and tailored client solutions. Dionisopoulos, who is a graduate of Providence College, is known among his colleagues for always being prepared throughout the due diligence process.
Managing director of ETF research, Charles Schwab Investment Advisory
ETF and index mutual fund research, general ETF expert
‘Conducting telephone product surveys. The surveys were ridiculously long, and we were paid based on the number of people who completed the entire survey’
After interning at the US Securities and Exchange Commission and working as an investment analyst for Cheyenne Capital, Emily Doak joined Charles Schwab Investment Advisory as a senior research analyst in 2011. Now managing director of ETF research, she selects funds for Schwab’s ETF list and $30 billion robo advisor. ‘Her clarity of thought and commitment to doing what is right for investors rather than what is expedient stand out,’ Doak’s nominator said.
Although our rising stars are spread out across the country, a whopping 50% of the top 40 are from the east coast. Massachusetts and New York are the states hosting the most, while Chicago is the leading city.
Taxable fixed income research and special team projects
‘Michelle Obama. She’s openly talked about overcoming challenges at home and issues around public image and self-esteem, and I think I could learn a lot from her’
Lauren Dombrowski first started at UBS as a summer analyst while attending UNC Chapel Hill. She returned to the company after graduating, starting as a research associate, before becoming an analyst. She now conducts due diligence on US taxable fixed income investment strategies for use in wealth management and provides high-conviction ideas to UBS advisors. Her colleagues say she has quickly come up the analyst curve by co-covering strategies and shadowing senior analysts to hone her skills.
Senior analyst, LPL Financial
researching domestic large-cap equity, creating new investment offerings
‘Tom Hanks. He obviously has experience being stranded on an island and surviving. Also, as the best actor of all time and a seemingly great guy, he’d be able to provide some entertainment to make our ordeal quite enjoyable’
Drew Donatelli has been in LPL Financial’s manager research team since 2015, starting out as an analyst before eventually managing the team. When investors fell victim to the bitcoin craze, Donatelli co-authored a white paper on blockchain and created LPL’s Blockchain Innovators SMA. He also helps advance junior team members. Donatelli started his career as a file clerk at Lamp McErlane law office in Pennsylvania while earning his BA in investment finance. In 2012, he joined Vanguard as a high-net-worth relationship manager before joining LPL.
Research analyst, Rockland Trust
researching mutual funds, screening and analyzing prospective funds, managing the strategic asset allocation framework
‘My three-month-old son, Brayden. He would keep my spirits high’
Chris Egan has worked at Rockland Trust for nearly 10 years. After starting at the firm as a bank teller, Egan eventually moved over to the investment side as a research assistant in 2014. He is now an analyst covering consumer staples, consumer discretionary and financials for Rockland’s Large Cap Blend & Mid Cap Growth products.
Research and due diligence for the Fund Strategist portfolio, research group and investment committee member
‘Eddie Vedder, singer, songwriter and lead vocalist of Pearl Jam. I’m pretty sure Eddie would make the days on a desert island a bit more enjoyable’
Brooks Friederich has reached veteran status at Envestnet, having joined the firm in 2008. He directs the fund strategist portfolios team, setting standards in benchmarking, risk profiling and classification that are broadly used across the firm. Friederich started his career in investment management in 2006 as an analyst at Pitney Bowes, joining ALPS Funds a year later, before landing at Envesetnet.
Director of US Large-Cap Equity, Nationwide Investment Management Group
selecting large- and mid-cap managers on the mutual fund and variable annuity platforms
‘As a kid, my family raised hogs. After every farrowing season, the farrowing crates had to be pressure-washed. It was literally and figuratively the shittiest job I ever had!’
Luke Garland joined Nationwide Insurance in 2009, after having worked at National City and CME Credit Union immediately after graduating from university. Starting out as a suitability support analyst, he eventually became the director of US large-cap equity. ‘Garland has a rare ability to explore creative outside-the-box solutions to achieve investor outcome,’ his nominator said.
Research Analyst, Stifel Financial
St. Louis, MO
analyzing traditional asset classes for mutual funds and ETFs, managing discretionary home office models, research and development
what Advice would you give your younger self?
‘Always be curious, don’t be afraid to ask questions, and be an active listener’
Dylan Gray’s five-year career at Stifel Financial started shortly after he graduated from Grinnel College, when he joined as a financial analyst. Gray is now an analyst and portfolio manager. His colleagues say that on the surface, Gray does not appear old enough or experienced enough to be considered a ‘rising star,’ but in a short time, he has already developed into a leader and mentor.
Director of research, Pathstone
Managing due diligence, selecting funds and investment managers, evaluating alternative investment opportunities in hedge funds, private equity and fixed income
‘I once worked as a gas station attendant at a marina. Although it was still better than pumping gas at a regular service station, watching all the boaters go out for a day on the water got old pretty quickly’
Alex Hart has been director of research at Pathstone since 2015, when the firm acquired Federal Street Advisors, where Hart had been the director of equity and fixed income research. Hart started his career at Federal Street Advisors as a CFA. When Pathstone took over, Hart integrated three disparate company research teams and investment models to create a cohesive analyst team.
Vice president and senior investment analyst, Envestnet
Managing research workflow, professional development for the equity team
‘I worked in a steel factory one summer during college. The 10-hour shifts were long and grueling and consisted of repeating the same mundane tasks over and over with little or no human interaction’
During his 10 years at Envestnet, David Hawal has risen through the ranks to become the firm’s head of equity research. He started his career at Charles Schwab in 2007 as a broker, before becoming a portfolio specialist at Envestnet in 2009. He received a bachelor’s degree in international business and Spanish from Loyola University Maryland and a master’s in business adminstration from John Carroll University. ‘Hawal has been integral in expanding coverage and helping drive innovation with fresh and easily digestible deliverables,’ his nominator said.
Senior vice president/research analyst Meketa Investment Group
Global, international and emerging markets equity manager research, member of MIG Global Macroeconomic Investment committee
who is your dream mentor?
‘I would be remiss not to mention two people professionally and personally. The first is my father, Dave Hetzer, who guides and inspires me each day. The second is Ed Omata, who runs Meketa Fiduciary Management. I have had the great privilege of growing up in the business under Ed’s wing’
David Hetzer is vice president and a research analyst at Maketa Investment Group in Chicago, where he has been since 2011. Prior to Maketa, he completed two internships during his studies at the University of San Diego at TVC Capital in Del Mar, California and The Griswold Company in New York City.
Managed assets research analyst,
Covering core equities, taxable fixed income and real estate on the managed assets department
‘Jim Simons of Renaissance Technologies. Who wouldn’t want to learn from the creator of the group that has produced the most admirable return stream over the past 20 to 30 years?’
After a one-year stint as a financial consultant at D.A. Davidson from 2011 to 2012, Shawn Holland made a comeback two years later, joining the managed assets research team alongside Scott Haigh and Jeff Hume in Bozeman, Montana, overseeing programs with a total of $17 billion in assets. With a business administration degree, Holland previously worked in D.A. Davidson’s financial planning department and as a loan analyst and underwriter at Mountain West Bank.
Senior director, investment research,
Evaluating and selecting investments
across the firm’s institutional and
wealth management businesses
‘That’s easy – family and friends’
David Hood joined Captrust in 2009 and is a senior director and head of the firm’s investment team. After stints on the set of The King of Queens television series and at the King & Spalding law office, he made his entry into finance, working on commodities purchasing strategies at ESC. Hood has a degree in journalism and political science from the University of North Carolina at Chapel Hill and an MBA in finance from Wake Forest University.
Vice president, multi-manager investments, Northern Trust
ESG and equity manager research
‘Bear Grylls. His resourcefulness and ability to adapt to any situation is impressive and would certainly be useful when trapped on a desert island’
Steve Indiveri began his career as a research analyst at Clearbrook Investment Consulting. He eventually moved on to an analyst role at GE Asset Management. From there, he became a client advisor at Spruce Investment Advisors. At Northern Trust, Indiveri has been on the multi-manager team for more than four years, and recently became vice president. He is known for his forward-thinking research on integrating ESG into manager selection.
Portfolio manager, Commonwealth Financial Network
asset allocation research and mutual fund due diligence for the discretionary model program
‘For two summers in high school I worked for the Appalachian Mountain Club and did a variety of jobs. The worse job there was probably having to clean the toilets’
Andrew Kitchings began his career at Bank of America, where he was an investment associate and research analyst. From there, he joined LPL Financial as a research analyst, focusing on identifying emerging managers across equity, fixed income and unconstrained strategies. At Commonwealth, he analyzes the PPS Select Portfolios, discretionary mutual funds and ETFs. He is a chartered alternative investment analyst, certified energy risk professional and a certified financial risk manager.
Research analyst, global manager research team, Wells Fargo Investment Institute
St. Louis, mo
municipal bond manager Research
‘I should say my wife, but Kenny Chesney would be good also. I’m a big fan of his, and if he went missing as well, I might have a better chance of being rescued’
Kyle Lane has worked at Wells Fargo for more than seven years. He initially started on the fixed income trading team, where he developed knowledge of the fixed income markets, became familiarized with the trading platforms and obtained Finra licenses. He was also a fixed income trading liaison and was involved in all aspects of the trading process. Lane’s peers say that his experience on the fixed income desk gives him a unique perspective in the due diligence process. His ability to think like a trader has expanded the scope of his coverage in just two years.
Research analyst, RBC
analyzing fixed income managers,
overseeing the discretionary mutual
fund and ETF Income portfolios
‘Thor Heyerdah, a Norwegian explorer and writer who sailed from South America to the Polynesian islands by raft in 1947. If we couldn’t find materials to build a raft, I’m sure he’d have a few good stories’
Jacob Lauer joined RBC one year ago from Bremer Bank, where he was an investment portfolio analyst. Bremer Bank is headquartered in Minnesota and is jointly owned by the Otto Bremer Trust and Bremer employees. In his role at RBC, Lauer covers the broad universe of fixed income managers. His peers say that he has taken the initiative to deepen his understanding of fixed income and brings a unique passion to the space.
Partner/Research Director, DiMeo Schneider & Associates
managing the global public markets team, Investment and Discretionary committee member
‘Both education and experience in college will serve you in your professional life. Think critically. The truth of a matter rarely shows up neatly in your lap’
At DiMeo Schneider & Associates, Bradford Long is the research director of the global public markets team, which oversees investment research across global equity, global fixed income and global real assets. While studying economics at the University of Colorado, he interned for Goldman Sachs’s asset management team, before working as an analyst at Citigroup for less than a year. He worked at Wells Fargo as an analyst before joining DiMeo Schneider in 2012.
Senior analyst, manager research team, Morningstar
covering equity and allocation funds and offerings from asset managers
‘Author David Epstein, who is engaging, incisive and intellectually honest to the point of confessing that he unwittingly committed statistical malpractice in completing a master’s degree – something the granting university didn’t notice’
A PhD in theology and more than a decade of schooling and teaching does not naturally translate into a career in investment. But Alex Lucas pivoted well, joining Morningstar’s Chicago-based manager research team as an analyst.
Deputy director of research,
co-leading the research and investments group, covering mutual funds, ETFs, ESG strategies and alternatives
‘Focus on building and maintaining relationships with the people that are important to you’
Brian Mackey started out as an analyst for Registered Investment Advisor while studying economics at Elon University. He joined Adviser Investments in Newtown, Massachussetts, in 2012 as an investment analyst. Now, as deputy director of research on a team that covers total assets under management of more than $5 billion, his colleagues say he is one of the best discoverers of managerial talent. Case in point: he brought on a fund from Baillie Gifford, working with a team that rarely offers US access. Today, clients own almost 15% of the fund’s assets.
Director of investments,
Axxcess Wealth Management
Heading the investment committee, managing model portfolios, assisting advisors with portfolio construction
‘Style Network, as part of a rotational program with Comcast and NBC. After only three weeks of being on the finance team there, we received the news that the network was being shut down’
From paintball sales to working at a food bank, Cory Persson certainly had a colorful work history before landing at Pacific Capital, where he became director of investment strategy. He then went on to direct the investments department at Axxcess Wealth in Carlsbad, California, in 2018. Persson oversees the investment platform and heads the investment oversight committee.
Research analyst, Wells Fargo Investment Institute
Covering multi-asset, real return strategies and international equity strategies
‘Learn from everyone you meet because everyone can teach you a lesson’
David Pham joined Wells Fargo as a research analyst after spending seven years at Edward Jones, where he worked in portfolio construction and investment advice. Pham has a background in asset allocation and manager selection, which has helped him to stand out at Wells Fargo. His peers rate him as incredibly thorough and always prepared.
Associate vice president, manager research, FineMark National Bank & Trust
Palm Beach, FL
Manager selection, due diligence across all asset classes
‘No one is perfect. I subcribe to the views of Nassim Nicholas Taleb in Fooled By Randomness. If I must, then my dream mentor is me 10 years from now. You want to be constantly learning, improving and aspiring to become better’
Najam Qasim graduated with a BA in finance from the University of Florida and an MA in investments and securities from Florida International University in 2009. During his studies, he gained work experience at IberiaBank, where he spent six years as an investment analyst. In 2011, he joined FineMark National Bank & Trust, where he was promoted from hedge fund research analyst to leader of the manager research team. ‘He is passionate about investments and manager selection and isn’t afraid to bring new ideas to his investment committee,’ his nominator said.
Senior investment analyst, Cetera Financial Group
Los Angeles, CA
creating and maintaining the
‘Nicolas Amato, the managing director of Bramshill Investments. He’s my dream and real mentor, aka my fiancé’
Natalia Reshetova joined Cetera one year ago and has already risen in the ranks to senior investment anayst on the traditional manager research team. Previously, she was an investment manager at Beverly Hills-based Finestone Partners, where she stayed for nearly five years before joining Cetera in Los Angeles in 2018. She holds a master’s degree in global economics from the Russian State University of Trade and Economics and an MBA in finance from Pepperdine University.
Research analyst, Edward Jones
Manager research, ongoing due diligence
‘Surround yourself with people who are smarter than you and work harder than you. Learn from them and emulate their work ethic. And short sleeves equal short careers’
Patrick Riordan is a research analyst at Edward Jones in St. Louis, Missouri. Prior to Edward Jones, he worked as a consultant at advisory firm EY and as an analyst for BNY Mellon. But Riordan’s influence on others extends beyond his time in the field. With a master’s degree in finance, Riordan has also shared his experience with up-and-coming finance students at the University of Missouri. ‘Relative to his peers, Pat is far more responsive, asks better questions and quickly identifies strengths and weaknesses of the manager in the room,’ his nominator said. ‘Once identified, he tactfully finds ways to determine the magnitude of those weaknesses and strengths.’
Associate portfolio manager, Office of Investments, University of Chicago
due diligence, managing existing portfolio positions and risk exposures
‘Bill Belichick, because of his leadership qualities and his ability to find players that are often overlooked and undervalued by other teams and coach up those individuals’
Chris Rosemeyer first joined the University of Chicago five years ago as an analyst on the portfolio strategy team. He eventually moved to the public markets and absolute return group, first as an analyst and now as an associate portfolio manager. Prior to joining the University of Chicago, Rosemeyer served in various roles at Bank of America Merrill Lynch, including as an analyst for institutional and wealth management services. He is a CFA charterholder.
Vice president, Morgan Stanley
NEW york, ny
Manager research, developing quantitative screens to source managers
‘Don’t be afraid to take risks – you will learn your strengths and weaknesses, and it helps to build character. Also, cherish the time spent with friends and family’
A senior investment analyst at Morgan Stanley, Adnan Sabih has more than a decade of investment experience. He began his career as a client analyst at Merrill Lynch. He then spent a year as a financial analyst at American Express before joining Bank of America Private Bank as a product manager for six years. He holds a dual bachelor’s degree in finance and economics from Rutgers Business School. At Morgan Stanley, he has analyzed more than 700 investment strategies and published 150 research reports on investment managers.
Vice president, fixed income, PNC
monitoring the taxable fixed income strategies on PNC’s investment platform
‘Jocko Willink and Tim Ferriss are definite lifestyle role models and would be dream mentors, but I’d be remiss to not mention the inspiration of Isabel Allende and Carlos Slim, from both a moral and a business standpoint’
Carlos Sanabria started his career as a student researcher at Morgan Stanley. He then went on to hold several research roles, including analyzing for the strategic investment research group at Prudential. At PNC, Sanabria has moved up the ranks from assistant vice president of investment advisor research to his current focus on taxable income strategies.
Product development associate, John Hancock Financial Services
Customer service, operations, sales and relationship management in the mutual fund spaceS
Adam Savage joined John Hancock Financial Services after graduating university, initially working in customer service. While pursuing a master’s in finance at Suffolk University, he continued working as a research analyst before becoming a product development associate. He has been at John Hancock for 14 years.
senior analyst, asset management services, Raymond James Financial
St Petersburg, FL
selecting managers for discretionary Freedom funds, covering global equities, liquid alternatives and portfolio construction
‘Be bold, curious, introspective, humble and the hardest worker’
Johnny Suarez has spent the bulk of his 15-year career at Raymond James. Before joining the due diligence team, he worked as an associate financial advisor intern for the firm. Prior to joining Raymond James, he was a stockbroker intern with Scottrade. According to his colleagues, Suarez leads by example through his work ethic and willingness to put in the time building relationships with managers.
Research analyst, Russell Investments
Researching equity investment managers
‘Growing up, my grandfather would pay me a quarter for every fly I could swat that managed to find its way into the house’
Puneet Thiara began her career at Goldman Sachs, as a summer analyst and private wealth management intern. After graduating school, she joined Fisher Investments. There, she was an investment associate before becoming an associate vice president of client development. She eventually joined Russell Investments, sitting on the research team. At Russell, she is an active mentor of younger coworkers and was recognized as the 2018/2019 Volunteer of the Year by CFA Society Seattle for her work in overhauling the society’s social programing.
Associate, Wilshire Associates
santa monica, ca
helping to shape the manager roster
‘Christine Hurtsellers, chief executive officer of Voya Financial. She is an experienced leader in the investment field and a fervent supporter of women working in the industry’
Marisa Walters joined Wilshire Associates immediately after graduating from the University of California, Berkeley. In her four years at the firm, she has progressed from analyst to senior analyst to associate on the manager research group.
Senior vice president, Wilshire Associates
Investment manager research
‘I was a phonathon caller during my college years seeking alumni donations. My success rate was very low!’
Chad Wubbena has more than a decade of manager research experience. He began his career at Aon Hewitt as a senior analyst on the equity manager research team, eventually becoming an associate partner on that team. In the role, he helped shape the manager roster for Aon. At Wilshire Associates, he has continued to focus on equity manager research. He is a CFA charterholder.
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research and sales
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