Macquarie Appoints US Head of Banks Research
Macquarie Securities appoints David Konrad as Head of US Banks coverage team
Coverage to include large cap banks and brokers, and select regional banks
Formerly head of large cap banks coverage at KBW
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 (NYS: JPM) , Citigroup (NYS: C) , Goldman Sachs (NYS: GS) , Morgan Stanley (NYS: MS) , US Bancorp (NYS: USB) , PNC Financial (NYS: PNC) , Fifth Third Bancorp (NAS: FITB) , KeyCorp (NYS: KEY) and Huntington Bancshares (NAS: 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
Stephen Yan, +1 212-231-1310
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