By Business Wire, March 19, 2013, 07:00:00 AM EDT
- Macquarie Securities appoints David Konrad as Head of US Banks
coverage team
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Coverage to include large cap banks and brokers, and select regional
banks
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Formerly head of large cap banks coverage at KBW
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Hiring augments existing US financial institutions coverage
NEW YORK--(BUSINESS WIRE)--
Macquarie Securities, the institutional equities arm of Macquarie Group
("Macquarie") (ASX: MQG; ADR:MQBKY), today announced the appointment of
David Konrad as a Managing Director and Head of US Banking sector
coverage.
Mr. Konrad is one of the most well regarded analysts covering the
sector. With a 25-year career in banking, he has been named twice as one
of the "World's Best Financial Stock Pickers" by Bloomberg Magazine
(2010 and 2011), a top stock picker by the Wall Street Journal (2008)
and has managed a team that was awarded a top rating in the 2009
Greenwich Associates research survey.
Mr. Konrad joins from Keefe, Bruyette & Woods (KBW), where he was Head
of Large Cap Bank Research for the past five years and had overall
responsibility for research focused on universal and large cap
Midwestern banks. Specific stocks he covered at KBW include JPMorgan
Chase (NYSE:JPM), Citigroup (NYSE:C), Goldman Sachs (NYSE:GS), Morgan
Stanley (NYSE:MS), US Bancorp (NYSE:USB), PNC Financial (NYSE:PNC),
Fifth Third Bancorp (NASDAQ:FITB), KeyCorp (NYSE:KEY) and Huntington
Bancshares (NASDAQ:HBAN).
Prior to KBW, Mr. Konrad held various banking roles at Harris Trust &
Savings Bank and LaSalle National Bank. He holds a Chartered Financial
Analyst (CFA) designation.
Macquarie's US banking research effort forms part of its overall US
financial institutions coverage. The team produces research in banks and
brokers, insurance, diversified financial services, specialty lenders
and financial guaranty companies. Globally coordinated with research
counterparts in Europe and the Asia-Pacific region, the firm's worldwide
sector coverage now encompasses 51 analysts across 601 financial
institution stocks, providing comprehensive sector and stock-specific
research to the firm's clients.
Andrew Root, Managing Director and Head of US Research said: "Macquarie
is delighted to have David join our financial institutions research
team. As head of our US banking research, his deep and extensive
expertise in the banking sector will provide clients with a top-tier
perspective on individual stocks and industry trends. His leadership
experience and prospective coverage will enlarge and enhance our
existing financial sector research product."
About Macquarie Group
Macquarie Group (Macquarie) is a global provider of banking, financial,
advisory, investment and funds management services. Macquarie's main
business focus is making returns by providing a diversified range of
services to clients. Macquarie acts on behalf of institutional,
corporate and retail clients and counterparties around the world.
Founded in 1969, Macquarie operates in more than 70 office locations in
28 countries. Macquarie employs approximately 13,400 people and has
assets under management of over $353 billion (as of September 30, 2012).
Go to www.macquarie.us
for more information.
About Macquarie Securities Group
Macquarie Securities Group operates as a global institutional securities
house covering sales, research, ECM, execution and derivatives
activities, and offers full-service cash equities in Australia, Asia,
South Africa and Canada with specialized offerings in the US and Europe.
Macquarie Securities Group operates in the US as Macquarie Capital (USA)
Inc., a member of FINRA and SIPC. Further information can be found at www.macquarie.com/mgl/com/us/local-activities/research
Source: Macquarie Group