New York, NY, June 21, 2017. Rosenblatt Securities is pleased to announce it has hired veteran financial-services-industry analyst Christopher Allen.
In nearly two decades as a securities analyst, Allen has developed a devoted following among investors in financial-services stocks, particularly those of global exchange operators such as CBOE Holdings, CME Group, IntercontinentalExchange and Nasdaq. He also has analyzed related companies in equity brokerage and market making, including TD Ameritrade, E*Trade Financial, Charles Schwab & Co., Interactive Brokers, ITG, KCG Holdings and Virtu Financial.
“As the leading provider of market-structure analysis to institutional traders and other market participants globally, we’ve long admired Chris’ work covering exchanges and related companies from an investment standpoint,” said Justin Schack, a Partner and Managing Director who heads Rosenblatt’s Market Structure group. “He’s one of very few analysts who have been following these companies since the era when they began de-mutualizing and going public more than a decade ago, so his views and insights will be particularly helpful for the institutional analysts and portfolio managers we also serve.”
Allen comes to Rosenblatt from Buckingham Research Group, where he covered exchanges, e-brokers and market-structure-related companies. He has also served stints as a financials analyst at Evercore Partners, Bank of America Securities, UBS and Putnam Lovell NBF Securities.
“Rosenblatt’s deep institutional knowledge of market structure, regulation, and the equity markets and extensive relationships will bring a new element to my coverage,” said Allen. “So will the firm’s annual Global Exchange Leader Conference, which is a must-attend for exchange-industry investors and just a few months away. I’m excited to get started.”
Allen joins a growing investment-research team at Rosenblatt. Earlier this year, the firm also hired veteran media-industry analyst Alan Gould, as well as longtime semiconductor-company analyst Hans Mosesmann. The pair are part of a five-analyst technology, media and telecom team. Rosenblatt also provides US investors with research on and access to hundreds of emerging- and frontier-market companies, via leading local-market partners.
Said Evan Morgan, head of research sales: “Bringing on someone of Chris’ caliber and experience underscores our commitment to excellence in investment research.”
Rosenblatt’s growth in equity research comes as many market participants are rethinking their commitment to the field, amid new commission-unbundling rules that are part of revisions to the European Union’s Markets in Financial Instruments Directive and other headwinds.
“Rosenblatt has always been comfortable zigging while the rest of the industry zags,” said Joe Gawronski, the firm’s President and COO. “After all, we roughly quadrupled the size of our execution business over the past 15 years, during an extraordinarily tough period for agency brokers. Deep expertise and thorough, conflict-free customer service is a winning formula in any environment.”