New York, 19 March 2013
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.”