Education
COVID-19 has had a significant impact on providers and recipients of education, and business models are evolving to keep pace.
Healthcare
As the world continues to adapt to the new normal, so does the healthcare industry, and quickly.
Industry & Investments
Industries are evolving and change has accelerated in the past year, leading to business and investment opportunities.
Market Review and Outlook
After two years of COVID-related disruption, there was hope that 2022 would mark the beginning of a path toward normalization, for our economies and life in general; instead, the world has asked us for more patience and introduced new challenges. The year began with the relatively mild Omicron variant, and while it has been only moderately disruptive in most parts of the world, it is once again resulting in severe restrictions across China, exacerbating existing supply-chain issues. With the pandemic persisting, our attention rapidly turned to the Russian invasion of Ukraine, and the reintroduction of war onto the European continent.
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Richard de Chazal, CFA, joined William Blair International, Ltd. in 2001. He is a London-based macroeconomist with two decades of experience analyzing the U.S. economy and financial markets. Prior to joining William Blair, Mr. de Chazal worked for UBS Warburg in the Global Investment Strategy Department, and PaineWebber Intl. Ltd. in the London Economics Department.
Richard de Chazal
Macroeconomist
Our take on trends that matter.
Technology
Industries that were already moving toward digital environments have accelerated their technology adoption timelines.
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Across sectors, we have seen accelerated adoption of technology, business opportunity, and a deglobalized environment. Learn from our experts what this evolution means for a post-pandemic world. Stay up to date with our take on trends that matter most.
Navigating the Path Ahead
Industrial (R)evolution
The convergence of smarter hardware, software, and automation is disrupting business processes.
Humanizing Healthcare
Patient engagement, personalized medicine, and CAR-T therapies are driving the healthcare space.
Consumer Experience
Connected medical devices and remote patient monitoring represent the best example of a technological shift that occurred directly as a consequence of COVID.
Travis Cope
Investment Management Research Analyst
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Q1 2022
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Richard de Chazal, CFA Equity Research
From the archives, get our take on trends that matter, including friction-free real estate transactions, personalized medicine, brand intimacy, consumer-centric healthcare, and more.
Take a Look Back
2022:
Over the past year, industries that were already moving toward digital environments have accelerated their adoption timelines. From secure IT support to opportunities in new sectors, this digital transformation is proving to provide long-term benefits. Our experts share their views in the videos below.
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These hotspots control the deeplinking feature
Optimism for the Future of Medical Technology
Despite COVID-19’s unprecedented and devastating impact, there is hope for the medical technology sector on three fronts.
Margaret Kaczor Equity Research Analyst, Medical Technology
Margaret Kaczor, CFA, partner, joined William Blair in June 2010 and covers medical technology companies, with particular interest in robot-assisted surgery, kidney disease, immunodeficiency diseases, sleep and oxygen therapy, surgical tools and equipment, and diabetes. Ms. Kaczor, jointly with analyst Ben Andrew, was named the No. 2 stock picker in the 2015 StarMine Analyst Awards for her coverage of healthcare equipment and supplies. In 2016, Institutional Investor named Ms. Kaczor a "Rising Star of Wall Street Research." She earned B.S. degrees in both accounting and finance from the University of Illinois.
Margaret Kaczor
Equity Research Analyst, Medical Technology
IT Budgets After COVID-19
Executives and board members are going to look at digital transformation—from data analytics to chatbots—as a logical area of spending coming out of this global health crisis.
Maggie Nolan, CPA Equity Research Analyst, IT Services
Maggie Nolan, CPA, who joined William Blair in June 2015, is an analyst covering IT services companies. Ms. Nolan graduated from Miami University with a Bachelor of Science degree in business with majors in finance and accounting.
Maggie Nolan, CPA
Equity Research Analyst, IT Services
Opportunities for Technology in Real Estate
While real estate has faced challenges as a result of COVID-19, recent technology adaptation can continue to provide long-term benefits for the industry.
Stephen Sheldon Equity Research Analyst, Technology
Stephen Sheldon, CFA, CPA, who joined William Blair in September 2011, is a technology analyst focused on the real estate and education verticals. In 2018, Institutional Investor named Mr. Sheldon a Rising Star for the All-America Research Team. Before 2018, Mr. Sheldon spent more than six years as an associate covering companies in the HR technology, information services, and staffing industries. Mr. Sheldon graduated with a B.S. in accounting and business administration from the University of Kansas and a master’s in professional accounting degree from the University of Texas.
Stephen Sheldon
Equity Research Analyst, Technology
Key Differentiators for Software Market Success
The overall impact of COVID-19 will vary across the technology industry; however, leaders that are able to differentiate themselves are likely to establish long-term growth.
Peter Dalrymple, Partner Investment Banking Managing Director, Technology
Peter Dalrymple joined William Blair in 2011 and is a partner and managing director in the software investment banking group at William Blair. Prior to joining, Peter spent three years in the technology investment banking group at Canaccord Genuity focused on software, internet, and digital media companies. Prior to his investment banking career, Peter was as an Associate with Pelion Venture Partners and also served as the Central and Southeast European Country Manager for the U.S. Trade & Development Agency. Peter graduated from Bates College with a Bachelor’s in Political Science and earned an M.B.A. in Finance from Northeastern University.
Peter Dalrymple, Partner
Investment Banking Managing Director, Technology
Technology Opportunity in Insurance
As a $2 trillion annual market, the insurance industry is seeing significant upgrades in technology. This has created room for opportunity within the sector.
Adam Klauber, CFA, Partner Equity Research Co-Group Head, Financial Services and Technology
Adam Klauber, CFA, partner, co-group head–financial services and technology sector, joined William Blair in 2011. His coverage focuses on financial analytic service providers, insurance brokers, and property-and-casualty insurance. In 1998, Mr. Klauber was a founder of Cochrane Caronia Waller, a Chicago-based insurance boutique, which merged with Fox Pitt Kelton in 2007; the combined entity was acquired by Macquarie Securities Group in 2010. Mr. Klauber has been recognized three times in recent years in The Wall Street Journal's "Best on the Street" report, including a No. 1 ranking in 2007. Mr. Klauber has also worked as a managing director and senior insurance analyst at Nesbitt Burns Securities (US) and as a senior bank analyst at Duff & Phelps Equity Research. He holds a B.S. in business administration from Indiana University and an M.B.A. in finance from Loyola University.
Adam Klauber, CFA, Partner
Equity Research Co-Group Head, Financial Services and Technology
Persistent Transformation Within Technology Companies
Strong demand for technology-led innovation can help more businesses digitalize their operations in order to make their products and services better, faster, cheaper, and more convenient. We believe these transformative shifts are here to stay.
Jayesh Kannan, CFA Investment Management Global Equity Research Analyst
Jayesh Kannan, CFA, is a global equity research analyst. He covers small-cap technology, media, and communication services companies. Before joining William Blair in 2018 as a research associate focused on technology, media, and communication services, Jayesh was an associate in the institutional equities division at Morgan Stanley in New York City and Singapore. In this role, he focused on emerging market and Asian equities. Jayesh is a member of the CFA Institute and the CFA Society Chicago. He received a B.E. in computer engineering from Nanyang Technological University, Singapore, where he graduated as a Singapore Airlines-Neptune Orient Lines scholar with first-class honors, and an M.B.A. from the Sloan School of Management at the Massachusetts Institute of Technology, where he was a Martin Trust Community Fellow.
Jayesh Kannan, CFA
Investment Management Global Equity Research Analyst
The Current Technology Ecosystem in the Restaurant Industry
The restaurant industry has been forced to adapt and innovate throughout the pandemic. As a result, a major opportunity for technology providers is stemming from restaurant operators implementing a wide range of digital improvements in ordering and hiring efficiencies.
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Louie DiPalma, CFA Equity Research Analyst, Global Industrial Infrastructure
What is driving smart city innovation? The pandemic has stimulated the adoption of smart city technology. But the Infrastructure Bill has the potential to shift things into overdrive.
Innovations in Smart City Technology
Louie DiPalma, CFA, who joined William Blair in February 2010, is an analyst covering aerospace and defense companies. Before his promotion in January 2018, he spent eight years as an associate covering the internet infrastructure and communication services industries. DiPalma earned a B.A. in chemistry with a minor concentration in computer sciences at Providence College and an M.B.A. with a concentration in finance from Kellogg School of Management at Northwestern University.
Louie DiPalma, CFA
Equity Research Analyst, Global Industrial Infrastructure
Jim Breen, CFA Equity Research Analyst, Internet Infrastructure and Communication Services
Internet access has immensely evolved over the past few decades, and the need for high-speed internet has drastically increased since the beginning of the pandemic. Find out how the U.S. Appropriations Acts will fund and benefit internet infrastructure, helping to close the digital divide.
US Infrastructure and Closing the Digital Divide
Jim Breen, CFA, joined William Blair & Company in 2010 as a communication services analyst. Previously, Breen spent 10 years as an analyst at Thomas Weisel Partners, LLC. He has been recognized several times in recent years by The Wall Street Journal's "Best on the Street" and the Financial Times/StarMine "World's Top Analysts" listing, the former of which ranked him the No. 2 stock-picker for 2010 in internet and computer services. Breen also worked as a high-yield fixed-income analyst at BancBoston Robertson Stephens and as a civil engineer at Modern Continental Construction Company. He holds a B.S. in civil engineering from Tufts University and an MBA from the Carroll School of Management at Boston College.
Jim Breen, CFA
Equity Research Analyst, Internet Infrastructure and Communication Services
5 Forces Driving Growth in the Construction and Building Product Sector
The construction and building product sector is embracing new technologies to protect the planet. Discover the five forces we see driving future growth and investment in the space.
Ryan Merkel, CFA Equity Research Analyst, Building Products and Specialty Distribution
Ryan Merkel, CFA, joined William Blair in 2005 and specializes in building products and specialty distribution. Previously, Merkel worked as a consultant at PricewaterhouseCoopers in its valuation services group. Merkel was named No. 3 earnings estimator in the 2015 StarMine Analyst Awards for his coverage of trading companies and distributors. Merkel received a B.B.A. degree in finance from Indiana University and an M.B.A. from the University of Chicago.
Ryan Merkel, CFA
Equity Research Analyst, Building Products and Specialty Distribution
The Impact of 5G
The fifth generation of the mobile network is notably different from the generations before it. Discover how 5G will have a significant impact on the economy in years to come.
Digital Expansion Creates a New Paradigm for Security
The evolving work-from-home environment, expanded use of technology by consumers, and defense systems to protect critical infrastructure are among the reasons cybersecurity needs are growing.
Jonathan Ho Equity Research Analyst, Cybersecurity Technology
Jonathan Ho, partner, joined William Blair & Company in 2005. Mr. Ho is a technology analyst specializing in cybersecurity and security technology. Previously, he worked as a lead software engineer and information technology project manager for seven years in the government/defense contracting industry. Mr. Ho holds a B.S. in finance and a B.S. in management science and statistics from the University of Maryland at College Park, an M.S. in information and telecommunications systems from the Johns Hopkins University, and an M.B.A. in finance and accounting from the University of Chicago.
Jonathan Ho
Equity Research Analyst, Cybersecurity Technology
While many feel the global education sector is in turmoil, an industry that has been traditionally reluctant to change is embracing experimentation and innovation. COVID-19 has had a significant effect on the industry, such as adapting business models and evolving education models. Our experts share their views in the videos below.
Brandon Dobell is a Managing Director and Head of Integrated Client Services at William Blair. Previously, Brandon spent 15 years in William Blair’s Equity Research department where he was named #1 Stock Picker and Earnings Estimator in 2017 by Thomson Reuters before transitioning to the Investment Banking group to launch the ICS group. The Firm’s ICS Group focuses on delivering a full range of services to clients with an emphasis on serving public companies. Prior to joining William Blair, Brandon was a Group Head in the Global Services Equity Research department at Credit Suisse. Brandon graduated from UC San Diego and has an MBA from the University of Southern California.
Brandon Dobell
Investment Banking Managing Director, Services and Industrials
COVID-19’s Economic Impact on Education
7 Lessons Learned from COVID-19
The economic impact of the novel coronavirus has had a significant effect on the education sector. Early trends of the pandemic may indicate how the industry will rebound in a post-COVID-19 world.
Brandon Dobell Managing Director, Services & Industrials
From adapting business models to evolving education models, here are seven lessons learned from COVID-19 and the resulting economic downturn.
Brandon Dobell Investment Banking Managing Director, Services and Industrials
Justine Chiou Investment Banking Managing Director, Education
The Post-Pandemic Global Education System
While many may feel the global education industry is in turmoil, there is confidence the current work and adaptation will lead to a more effective, efficient, and equitable pedagogy.
Justine Chiou is a Managing Director in William Blair’s Chicago office where she leads the firm’s education practice. Prior to joining William Blair, Justine worked for the Corporate Executive Board in their financial services practice, where she advised clients in retail banking and retirement services and launched their middle market platform. Justine holds an MBA from the University of Chicago Booth School of Business and a BA cum laude in History and Literature from Harvard University. She lives in the Wicker Park neighborhood in Chicago.
Justine Chiou
Investment Banking Managing Director, Education
As the world continues to adapt to the new normal, so does the healthcare industry, and quickly. This has led to greater opportunity for those that embrace and adapt to economic and cultural impacts of the pandemic. Our experts share their views in the videos below.
Digitization of Healthcare in America
The COVID-19 pandemic has made clear that the ongoing digitization of healthcare in America is only accelerating. Impacts of the crisis have shown a clear call-to-action for innovation and spending in the industry.
Joe Schauenberg Investment Banking Managing Director, Healthcare
What COVID-19 Means for Biotechnology
From the importance of investing to improved perception of the pharmaceutical industry, here are three observations on COVID-19’s impact on healthcare from a biotechnology equity research standpoint.
Andy Hsieh, Ph.D. Equity Research Analyst, Biotechnology
Embracing Economic and Cultural Impacts in Healthcare
Healthcare providers that embrace and adapt to both the economic impacts and cultural impacts of COVID-19 will see greater opportunity as we emerge from this crisis.
Edward Nakayama Investment Banking Director, Healthcare
Brian Weinstein, CFA Healthcare Analyst with Coverage in Diagnostic Products and Medical Technology
Diagnostic & Antibody Testing for COVID-19
From diagnostic testing to antibody testing, we take a look at three different types of COVID-19 tests currently available, and explore what a vaccine could mean for the future of testing.
Brian Weinstein, CFA, partner, and group head of life sciences, joined William Blair in 2001. Weinstein is a healthcare analyst with coverage in diagnostic products and medical technology. Before joining William Blair, Weinstein was a senior analyst at Casas, Benjamin & White, L.L.C., where he worked on restructurings and workouts in the healthcare services space. In addition, he worked at Baxter International/Allegiance Corporation in a variety of finance roles, including manager of investor relations at Allegiance. He received his B.S. in business with concentrations in both finance and marketing from Indiana University, and also holds an M.B.A. from the University of Chicago Graduate School of Business.
Brian Weinstein, CFA
Equity Research Analyst, Healthcare Focused on Diagnostic Products and Medical Technology
Joe Schauenberg is a Managing Director in the Healthcare Investment Banking Group at William Blair and leads the Healthcare Information Technology Practice. He joined the firm in 2007 and has advised on more than 60 M&A and capital raising transactions for publicly-traded and privately-held clients. Significant transactions on which Joe has advised include the sale of MatrixCare to ResMed, the sale of symplr to Clearlake Capital, and the sale of the European Healthcare Software subsidiary of McKesson Corporation (nka System C) to Symphony Technology Group. Prior to joining William Blair, Joe spent six years in Revenue Cycle Management consulting for Arthur Andersen and Ernst & Young advising academic medical centers and large physician groups to optimize management of accounts receivable, reimbursement denials and overall cost to collect. Joe received a B.B.A. with Special Honors with Distinction from the University of Iowa in finance and management information systems and an M.B.A. with Honors from the University of Chicago. Joe lives in Barrington, Illinois with his wife and three children.
Joe Schauenberg
Investment Banking Managing Director, Healthcare
Ed Nakayama is a Director in the Healthcare Investment Banking Group at William Blair. He joined William Blair in 2013 and focuses on M&A, debt, and equity advisory services in the Healthcare Services sector, particularly healthcare providers and service providers into the healthcare ecosystem. Since joining William Blair, Ed has advised on more than 30 M&A and capital raising transactions. Prior to joining William Blair, Ed was an Environmental Engineer at Holcim (U.S.) in Boston, MA and Ann Arbor, MI and studied jazz performance at the Berklee College of Music in Boston. Ed received a B.S. in Chemistry from Duke University and an M.B.A. from the University of Chicago Booth School of Business.
Edward Nakayama
Investment Banking Director, Healthcare
Andy Hsieh, Ph.D., a biotechnology analyst, joined William Blair in January 2014, after an internship as a research associate with Cowen & Company. Dr. Hsieh earned a Ph.D. in chemistry from the University of California, Berkeley and a B.S. in biological sciences from Carnegie Mellon University.
Andy Hsieh, Ph.D.
Equity Research Analyst, Biotechnology
Tim Lugo, partner, joined William Blair in 2005 and focuses on the therapeutics space. Before joining William Blair, he worked at Pacific Growth Equities as a junior analyst on a number of specialty pharmaceutical companies. Mr. Lugo was named No. 1 stock picker and No. 3 earnings estimator in the 2016 Thomson Reuters Analyst Awards for his coverage of biotechnology. Mr. Lugo has a B.A. in molecular and cellular biology (with an emphasis in genetics) and a B.A. in economics, both from the University of California, Berkeley.
Timothy Lugo, Partner
Equity Research Head of Biotech
Brian Weinstein, CFA Equity Research Analyst, Healthcare Focused on Diagnostic Products and Medical Technology
Matt Phipps, PhD Equity Research Analyst, Biotechnology
How the Biotech Industry Has Adapted to the Pandemic
The biotech industry has had to adjust to recent stress placed on the healthcare system. However, biotech companies have adapted, and have an opportunity to continue to hold the attention of physicians, investors, and the larger industry community.
Matt Phipps, Ph.D., a biotechnology analyst, joined William Blair in November 2014, after working as a postdoctoral research fellow at Texas Scottish Rite Hospital for Children. In the 2019 StarMine Analyst Awards from Refinitiv, Dr. Phipps was ranked the No. 1 earnings estimator in biotechnology and No. 3 across all industries. Dr. Phipps earned a Ph.D. in cellular and molecular physiology from the University of Alabama at Birmingham and a B.S. in physics in medicine from the University of Notre Dame.
Matt Phipps, PhD
Five Reasons Testing Is Still Important Even with Vaccines
While vaccines are unequivocally good news in the fight against COVID-19, there are five important reasons that diagnostics manufacturers should remain busy into the foreseeable future.
5 Biggest Trends Changing Healthcare Today
Healthcare advancements in response to the COVID-19 pandemic are rapidly becoming market mainstream and could make the U.S. system more effective.
Ryan Daniels Equity Research Co-Group Head, Healthcare
Ryan Daniels, CFA, partner, joined William Blair in 2002 and focuses on healthcare technology and healthcare services. Previously, he worked with Deloitte Consulting's M&A Advisory Services Group. Mr. Daniels holds a B.A. in economics from Northwestern University and earned an M.B.A. from the Kellogg School of Management.
Ryan Daniels, CFA
Equity Research Co-Group Head, Healthcare
What’s Ahead in COVID-19 Vaccine Safety and Distribution
Developing vaccines to beat COVID-19 has been the Manhattan Project of our time. Now we’re into distribution, but some of the public is questioning safety. Can we return to normal by the end of 2021?
Timothy Lugo, Partner Equity Research Head of Biotech
COVID-19 Therapeutics and Vaccine Expectations
Our expert says that there is reason to be optimistic for a COVID-19 vaccine by at least 2021. Hear more about our expectations for therapeutics and a vaccine.
Timothy Lugo, Partner Head of Biotech Equity Research
Camilla Oxhamre Cruse, PhD Investment Management Global Equity Research Analyst
The Need for Structural and Technological Transformation in Healthcare
The pandemic has highlighted just how much digital ground the healthcare sector needs to cover. In fact, the fax machine would no longer exist if it was not for our healthcare system. As the market continues to grow, investors will look for opportunities among companies that provide improved quality, decreased cost, and a better experience for patients and caregivers.
Camilla Oxhamre Cruse, PhD, is a global equity research analyst covering small- and mid-cap healthcare companies. Before joining William Blair in 2014, Camilla spent six years at Carnegie Investment Bank, where she was a sell-side research analyst focusing on the Nordic pharma and biotech industry. She has a scientific background. Specifically, Camilla has a PhD in medicine (immunology and infectious diseases) from the Karolinska Institutet in Stockholm, Sweden (known as the “home of the Nobel Prize in Medicine”) and an M.Sc. in biochemistry from Lund University (in Lund, Sweden) and École Nationale Supérieure de Chimie de Montpellier (in Montpellier, France). Camilla also received an M.B.A. in finance from Hawaii Pacific University.
Camilla Oxhamre Cruse, PhD
Investment Managment Global Equity Research Analyst
Yaoyao Wang, CFA Investment Banking Senior Vice President of Healthcare
Globally, there has been a push for earlier disease detection and prevention, and powerful diagnostics technologies are expected to improve early cancer detection.
Market Trends in the Diagnostics Industry
Yaoyao Wang is a senior vice president in the healthcare investment banking group with focus on diagnostics and life sciences tools. She joined William Blair in 2015 and spent four years in Chicago before relocating to London as part of the European healthcare IB expansion initiative. Prior to joining William Blair, she worked for PwC as a management consultant specializing in asset management and risk management consulting. Wang holds an M.B.A from University of California Berkeley, Haas School of Business, a B.S. in Business Administration and a B.A. in Economics from University of California Berkeley.
Yaoyao Wang, CFA
Investment Banking Senior Vice President of Healthcare
Travis Cope Investment Management Research Analyst
Connected devices that enable remote patient monitoring are a great example of a shifting technology landscape brought about by COVID.
Connected Medical Devices Improving Healthcare
Travis Cope is a research analyst with William Blair Investment Management. He focuses on U.S. mid-cap healthcare companies. He joined William Blair in 2008 as a U.S. research associate, before becoming an analyst in 2011 and a partner in 2022. Travis was also a generalist analyst covering emerging market small-cap companies and non-U.S. small-cap resources companies. Before joining the firm, he was an analyst at Macquarie Bank in Chicago, where he engaged in corporate restructuring advisory activity. Travis received an M.A. in international relations and modern history from the University of St. Andrews in Scotland.
Industries are evolving and change has accelerated in the past year, leading to business and investment opportunities. As we navigate the path ahead, it is important to recognize the lessons that can be learned from the impacts and challenges faced. Our experts share their views in the videos below.
COVID-19’s Impact on Specialty Distribution
As a result of the novel coronavirus, we have identified immediate trends taking place in the industrial distribution space. However, the long-term impacts of COVID-19 may create areas of opportunity within the space.
Ryan Merkel, CFA Equity Research Analyst, Industrial Distribution and Commercial Services
COVID-19’s Impact on Global Industrial Infrastructure
The biggest change to impact the cyclicals industry as a result of COVID-19 will focus on safety, specifically food safety.
Lawrence De Maria Equity Research Global Industrial Infrastructure Analyst, Agriculture, Construction, Mining, and Capital Goods
COVID-19’s Effect on Macro Investments
How has the pandemic impacted macro investments and emerging markets? We explore areas of opportunity in a post-COVID world and what lessons can be learned.
Lotta Moberg, PhD, CFA Investment Management Analyst, Dynamic Allocation Strategies
COVID-19’s Effect on Global Utilities & Real Estate
Stocks in the global utilities and global real estate sectors are typically thought to be defensive in nature. While global utilities have held up their end of the bargain, global real estate stocks have been one of the worst-performing sectors as we navigate the pandemic.
Alaina Anderson, CFA, Partner Investment Management Portfolio Manager and Global Research Analyst, Real Estate, Utilities, and Engineering Companies
Ryan Merkel, CFA, joined William Blair in 2005 and specializes in industrial distribution and commercial services. Previously, Mr. Merkel worked as a consultant at PricewaterhouseCoopers in its valuation services group. Mr. Merkel was named No. 3 earnings estimator in the 2015 StarMine Analyst Awards for his coverage of trading companies and distributors. Mr. Merkel received a B.B.A. degree in finance from Indiana University and an MBA from the University of Chicago.
Equity Research Analyst, Industrial Distribution and Commercial Services
Lotta Moberg is an analyst on the Dynamic Allocation Strategies team. She is responsible for global macro research. Lotta has previously worked for the Swedish foreign ministry in Russia, the Swedish Defense Forces in Kosovo, and has been a consultant for the World Bank. She has been published in several economics journals, including The Journal of Institutional Economics and The Review of Austrian Economics, and has taught classes in economics at George Mason University. Lotta has researched areas such as special economic zones, tax policy, and municipal bankruptcy. Education: Ph.D., economics, George Mason University; B.A., economics, Lund University, Sweden.
Lotta Moberg, PhD, CFA
Investment Management Analyst, Dynamic Allocation Strategies
Larry De Maria, CFA, co-group head–global industrial infrastructure, joined William Blair in 2011 and focuses on agriculture, construction, mining, and capital goods. Mr. De Maria was a managing director of global industrial infrastructure equity research at Sterne Agee for the previous four years, serving as co-manager of the group. Previously, he was a senior vice president–sales trading pod manager, institutional equity sales and trading at Prudential Equity Group from 2000 to 2007 and an associate vice president–institutional equity sales and trading at A.G. Edwards from 1998 to 2000. Mr. De Maria has a B.S. in business management (finance concentration) from Providence College.
Lawrence De Maria
Equity Research Global Industrial Infrastructure Analyst, Agriculture, Construction, Mining, and Capital Goods
Olga Bitel, partner, is a global strategist. She is responsible for economic research and analysis across all regions and sectors. She distills macroeconomic and geopolitical developments into actionable insights for global equity portfolios within a multifaceted strategic framework. In addition, she provides insights about cyclical turning points and structural trends as inputs into portfolio construction in predominantly bottom-up investment approaches. Before joining William Blair in 2009, Olga was a senior economist at the National Institute of Economic and Social Research in London, United Kingdom, where she produced macroeconomic forecasts for most Asian economies and led thematic research projects for some of the world’s best-known international organizations, including the Organization of the Petroleum Exporting Countries and the International Monetary Fund. Olga received a B.A. from the University of Chicago and an M.Sc. in economics from the London School of Economics and Political Science.
Olga Bitel, Partner
Investment Management Global Strategist
Alaina Anderson is a portfolio manager for the International Leaders ADR strategy and a global research analyst covering real-estate stocks. Before joining William Blair in 2006, she was a senior analyst in the investments department of the MacArthur Foundation, where she provided research support for internally managed portfolios and was involved in investment manager due diligence, selection, and monitoring for the foundation’s U.S., non-U.S., and hedge-fund portfolios. Before joining the MacArthur Foundation, Alaina was an investor relations consultant with Ashton Partners and a financial advisor with UBS Painewebber. She is a member of the CFA Institute, the CFA Society of Chicago, and a trustee of Lawrence Hall Youth Services. Alaina received a B.S. from the Wharton School at the University of Pennsylvania and an M.B.A. from the University of Chicago’s Booth School of Business.
Alaina Anderson, CFA, Partner
Investment Management Portfolio Manager and Global Research Analyst, Real Estate, Utilities, and Engineering Companies
As a result of the novel coronavirus, we have identified immediate trends taking place in the specialty distribution space. However, the long-term impacts of COVID-19 may create areas of opportunity within the space.
Dylan Carden Equity Research Analyst, Consumer Technology and Specialty Retail
5 Themes to Expect from the Current Recession
From online migration to inventory utilization to consumer communication, major themes are beginning to emerge as a result of the current recession.
Dylan Carden joined William Blair in 2014. Mr. Carden is an analyst specializing in consumer technology and specialty retail. Before working at William Blair, he worked at Telsey Advisory Group. Mr. Carden has an undergraduate degree in English from Kenyon College and an M.B.A. from Indiana University with a concentration in finance and accounting.
Dylan Carden
Equity Research Analyst, Consumer Technology and Specialty Retail
Yan Krasov, CFA, Partner Investment Management Analyst, Industrials and Healthcare
The Industrial Sector’s Response to the Recession
Facing the third recession in 12 years, the industrial sector is familiar with navigating periods of economic uncertainty and fluctuation in demand for products and services. In fact, many industrial companies have actively responded to the pandemic by shifting their manufacturing processes.
Yan Krasov is a research analyst at William Blair Investment Management. He focuses on U.S. large-cap industrials and healthcare companies. Before joining William Blair in September 2006, Yan spent four years at JPMorgan Securities in Chicago, where he began his career in the firm’s institutional equity sales and private client services groups. He is a member of the CFA Institute and the CFA Society of Chicago. Yan received a Bachelor’s in speech and economics from Northwestern University and an M.B.A. from the University of Chicago’s Booth School of Business.
Yan Krasov, CFA, Partner
Investment Management Analyst, Industrials and Healthcare
Romina Graiver Investment Management Portfolio Specialist
The Heightened Importance of ESG Investing
Learn how rising risks of climate change, social injustice, and the economic crisis are impacting environmental, social, and governance (ESG) investing.
Romina Graiver is a portfolio specialist for William Blair’s global equity strategies. In this role, she participates in the team’s decision-making meetings, conducts portfolio analysis, and is responsible for communicating portfolio structure and outlook to clients, consultants, and prospects. Previously at William Blair, she was a senior client relationship manager. Before joining William Blair in 2012, Romina was deputy head of the international equity investment team at BNP Paribas Investment Partners, where she was responsible for product development and investor communication. Before taking on that role, she was a product specialist for model-driven equity investments and a marketing manager. Romina received a Bachelor of Science in international business and a Master of Science in economics from the University of Pantheon-Sorbonne in Paris, France.
Romina Graiver
Investment Management Portfolio Specialist
Luis Olguin, CFA Investment Management Portfolio Manager
Pandemic Recovery: Emerging Market Corporates
While the pandemic has tested emerging markets, the corporate asset class has shown maturity and remained resilient.
Luis Olguin, CFA, is an Emerging Markets Corporate portfolio manager on the Emerging Markets Debt team. Prior to joining William Blair, he was a senior portfolio manager on the EMD team of NN Investment Partners. Having rejoined NNIP in 2014 with both portfolio management and credit analysis responsibilities, Luis had global portfolio management responsibilities in Emerging Markets corporate credit as well as analyst duties in Latin America across oil and gas, metals and mining, and industrials sectors. Previously, he was Head of Equities for AFP Habitat, a pension fund in Peru. During this time, he was also a professor at the University of Lima teaching several courses in investment management. Before that, he served as a director with financial and managerial responsibilities of a family-owned conglomerate in Peru. Prior to this, he spent eight years at ING Investment Management (predecessor firm to NN Investment Partners) across diverse roles within fixed income research and portfolio management. Luis received a Bachelor of Business Administration from Emory University’s Goizueta Business School.
Luis Olguin, CFA
Investment Management Portfolio Manager
Vivian Lin Thurston is a portfolio manager for William Blair's China A-Shares Growth strategy and a global research analyst covering Chinese equities. Previously, she was a global research analyst covering large-cap consumer stocks. Before joining William Blair, Vivian was vice president and consumer sector head at Calamos Investments. Before that, she was an executive director and senior investment analyst at UBS Global Asset Management/Brinson Partners, where she was responsible for stock selection and research for consumer sectors in the United States and emerging markets. Vivian also held roles at Mesirow Financial, China Agribusiness Development Trust and Investment Corporation, and Vanke. She is a member of the CFA Institute and the CFA Society of Chicago. She is also the founder and chairman of the board of the Chinese Finance Association of America, a 501(c) nonprofit organization. Vivian received a B.A. in sociology from Peking University and an M.A. in sociology and M.S. in finance from the University of Illinois Urbana-Champaign.
Vivian Lin Thurston, CFA, Partner
Vivian Lin Thurston, CFA, Partner Investment Management Portfolio Manager
China's Post-Pandemic Recovery
China's consumer, healthcare, and technology sectors are experiencing significant impacts from COVID-19. Learn how China is recovering from the pandemic from both a societal perspective and an investment standpoint.
Vivian Lin Thurston, CFA, Partner Portfolio Manager
A Short Title Sometimes Can Be A Long Title
A brief description of the topic discussed in the video by the expert. Sometimes the length of the description can be short while other times can be quite long.
Vivian Lin Thurston is a portfolio manager for William Blair’s China A-Shares Growth strategy and a global research analyst covering Chinese equities. Previously, she was a global research analyst covering large-cap consumer stocks. Before joining William Blair, Vivian was vice president and consumer sector head at Calamos Investments. Prior to that, she was an executive director and senior investment analyst at UBS Global Asset Management/Brinson Partners, where she was responsible for stock selection and research for consumer sectors in the U.S. and emerging markets. Vivian also held roles at Mesirow Financial, China Agribusiness Development Trust and Investment Corporation, and Vanke. She is a member of the CFA Institute and the CFA Society of Chicago. She is also the founder and chairman of the board of the Chinese Finance Association of America, a 501(c) nonprofit organization. Education: B.A., Sociology, Peking University; M.A., Sociology and M.S., Finance, University of Illinois Urbana-Champaign.
Brian Drab, CFA, Partner Equity Research Analyst, Industrial Technology
Current Trends in Engineering and Manufacturing Technology
From rapid manufacturing and 3-D printing to standby generators, industrial technology companies are adjusting to growing demand.
Brian Drab, CFA, partner, joined William Blair in 2006. Drab covers industrial technology. Previously, he worked as an engineer at Motorola, with mechanical design and manufacturing responsibilities. He graduated summa cum laude with a Bachelor of Science in mechanical engineering from Washington University in St. Louis and earned an M.B.A. from Harvard Business School.
Brian Drab, CFA, Partner
Equity Research Analyst, Industrial Technology
Steve Maletzky Investment Banking Managing Director, Head of Equity Capital Markets
Current Trends in Equity Capital Markets
Throughout the COVID-19 pandemic, there has been one major trend in equity capital markets: the convergence of public and private. Learn how companies are utilizing access to public markets.
Steve Maletzky is the head of William Blair’s Equity Capital Markets team. He joined the Equity Capital Markets group at William Blair in 2010 to lead the healthcare capital markets practice. Maletzky has more than 18 years of experience structuring equity and equity-linked IPOs, follow-ons, confidential follow-ons, PIPEs, and late stage private placements. In total, he has raised over 10.0 billion USD through more than 250 bookrun transactions. Over 80% of these transactions have been for companies in the life sciences sector and he maintains an active dialogue with fundamental life science institutional investors. Prior to joining William Blair, Maletzky worked in the Equity Capital Markets Groups at Needham & Company and Cowen and Company. He is a board member of The Nora Project, a not for profit that works to promote meaningful connections between students and their peers with disabilities. Maletzky holds a B.S.M. in finance from Tulane University.
Investment Banking Managing Director, Head of Equity Capital Markets
Steve Maletzky
Key Areas of Convergence in Public and Private Capital Markets
A robust appetite for high-growth investments is driving more focus on private investments. Learn more about SPACs, or special purpose acquisition companies, and other trending topics in equity capital markets.
Setting Economic Recovery Expectations
As shelter-in-place policies are lifted, we begin to assess the economic damage and form expectations for economic recovery. But, how short will the current downturn be, and how swift the recovery?
Olga Bitel, Partner Investment Management Global Strategist
Biggest Implications of Economic Growth in 2021
That 2021 economic growth is likely to be the strongest in decades is increasingly becoming consensus view. Here’s why we think this year will be all about earnings growth well in excess of expectations.
Thomas Clarke, Partner Investment Management Portfolio Manager
Navigating Macro Investments in an Accelerated Environment
What does it mean for portfolios as market prices move in accordance with changes in the macro environment? Thomas Clarke discusses how the pandemic accelerated changes already taking place and pushed things further in the direction they were going.
Thomas Clarke, partner, is a portfolio manager on William Blair’s Dynamic Allocation Strategies (DAS) team. In this role, Tom shares, with Brian Singer, ultimate responsibility for strategy setting and portfolio construction across all DAS portfolios. Before joining William Blair in 2011, Tom was a member of Singer Partners’ investment team, where he focused on currency strategy. Until 2009, Tom was a managing director and head of currency analysis and strategy for the global investment solutions team of UBS Global Asset Management. There, he set currency strategies for multi-asset, global and international equity, and fixed-income portfolios, and developed and oversaw the currency analysis process. Tom was also a member of the firm’s global asset allocation and currency committees and the U.K. investment committee. Before joining UBS in 2000, Tom was head of currency for Rothschild Asset Management, where he spent 10 years as part of the fixed-income and currency group. Tom received a B.Sc. from the University of Manchester.
Thomas Clarke, Partner
Sharon Zackfia, CFA Equity Research Group Head, Consumer
Post-Pandemic Expectations for the Restaurant Industry
The National Restaurant Association estimates 15% to 20% of restaurants permanently closed over the past year. What could this mean for consumer demands and experiences?
Sharon Zackfia, CFA, partner and group head–consumer sector, joined the equity research group of William Blair in 2000 with a focus on lifestyle and leisure brands, restaurants, and consumer technology. Previously, she worked in research at Credit Suisse First Boston and with the Nasdaq Stock Market and Jennison Associates. Zackfia has been recognized as a top earnings estimator multiple times in the StarMine Analyst Awards, including most recently in 2019. She was also recognized by The Wall Street Journal's Best on the Street as the No. 1 stock analyst in restaurants in 2010 and 2011 and as the No. 2 analyst in 2010 in leisure goods and services, and was named the No. 1 stock picker in restaurants in both 2009 and 2010 in the Financial Times/StarMine World's Top Analysts listing. Zackfia is a CFA charterholder and received a B.A. from Yale University. She also serves as a board member of the YWCA of Metropolitan Chicago and on the Board of Trustees of Lincoln Park Zoo.
Sharon Zackfia, CFA
Equity Research Group Head, Consumer
Cat Duncan, CFA Investment Management Research Analyst
The Pandemic's Impact on the Childcare Industry
Considering the pandemic, research shows female representation in the workforce could take a significant step backwards. Find out what impact this has posed on the childcare industry from an environmental, social, and corporate governance (ESG) standpoint.
Cat Duncan, CFA, is a research analyst at William Blair Investment Management. In this role, she focuses on U.S. mid-cap consumer companies. Before joining William Blair, Catriona was an equity analyst at Columbia Threadneedle Investments where she covered the consumer and communication services sectors. Before that, she was a vice president on the domestic growth team at Piper Jaffray and a senior analyst in public equity investments at Morgan Creek Capital Management. Catriona is a member of the CFA Institute and CFA Society Chicago. She received a B.A. in government from Harvard University and an M.B.A., with honors, from the University of Chicago’s Booth School of Business.
Cat Duncan, CFA
Tyler Glover, CFA, Partner Private Wealth Management Director of Consulting Services
Perspectives Across the Private Alternative Investments Landscape
While private capital fundraising slowed because of the pandemic, we see potential for a revitalization in fundraising, economic activity, and deal activity in 2021.
Tyler Glover works closely with advisors and clients in portfolio design and implementation, investment policy, asset allocation, and investment solutions across traditional and alternative asset classes. As head of the Consulting Services group at William Blair, he and his team are dedicated to serving private wealth clients by upholding a high standard of care in investment guidance. Tyler joined William Blair Private Wealth Management in 2014 and previously held retail and institutional distribution and consulting roles at Calamos Asset Management. Tyler is a CFA charterholder and Chicago CFA Society member. Tyler serves on William Blair’s Retirement Plan Investment Committee. He is also treasurer for Ronald McDonald House of Chicagoland and Northwest Indiana and serves on the organization’s board of directors and finance committee. Tyler received his B.A. and M.B.A. from North Central College.
Private Wealth Management Director of Consulting Services
Tyler Glover, CFA, Partner
Kathleen M. Lynch, CFA Investment Management Portfolio Manager
Asset-Backed Securities and the Pandemic Economy
The credit performance of asset-backed securities (ABS) could be impacted if consumers are strapped for cash. However, to date, ABS have mitigated the negative impact of increased volatility due to the pandemic.
Kathy Lynch, CFA, is a portfolio manager for William Blair’s Low Duration Fixed Income strategy. Before that, Kathy was a tax-exempt trader and portfolio manager. She was the lead portfolio manager for the William Blair Ready Reserves Fund from December 2008 through November 2015 and served as the credit analyst for the William Blair Ready Reserves Fund. Before joining William Blair in 1999, Kathy was a middle-market fixed-income associate at Citigroup, where she was responsible for facilitating trades in taxable and tax-exempt fixed-income securities. Kathy is a member of the CFA Institute and the CFA Society Chicago. She received a B.S. in business administration from the University of Dayton.
Kathleen M. Lynch, CFA
Blake Pontius, CFA Investment Management Director of Sustainable Investing
Imbedding ESG Factors Into Strategic Decision Making
The drivers of sustainable investing appear to be structural in nature and represent emerging risks and opportunities for companies across different industries. For investors and companies seeking to demonstrate their green credentials, we expect to see net zero commitments become the norm.
Blake Pontius, CFA, is director of sustainable investing and a global portfolio specialist. In this role, he coordinates the firm’s integration of environmental, social and governance factors in its investment processes and provides analytical support to portfolio managers on the global equity team. He is also responsible for communicating investment strategy and portfolio positioning to clients, consultants, and prospects. Previously at William Blair, Blake was a relationship manager responsible for institutional clients invested in the firm’s global/international and emerging market equity strategies. Before joining William Blair in 2005, Blake worked at UBS Asset Management and Mercer. He is a member of the CFA Institute and the CFA Society Chicago. In addition, he holds the SASB Fundamentals of Sustainability Accounting (FSA) credential. Blake received a BA in economics, with honors, from Michigan State University and an MBA in finance, with distinction, from DePaul University.
Investment Management Director of Sustainable Investing
Blake Pontius, CFA
Jamie Wildman, Partner Private Wealth Management Merchant Banking
Perspectives on Private Equity Investing
There has been a tremendous amount of capital raised over the past 10 years, and the deal environment remains incredibly robust in 2021. With private equity continuing to be raised at a record pace, we try to target funds that fall into three buckets.
Jamie Wildman provides ultra-high-net-worth private wealth clients with access to unique private capital offerings. Before joining the Private Wealth Management team in 2020 to lead the firm’s merchant banking effort, Jamie spent 23 years in investment banking, where he advised on merger-and-acquisition transactions and capital raises involving public and private equity. Jamie joined William Blair’s investment banking department in 2004 from Bear Stearns and began his investment banking career in 1997 at Cowen & Company. Jamie has served on the firm’s Wilblairco (partner investment vehicle) committee and community impact steering committee. Jamie is the current chair of the board of directors of the American Red Cross of Greater Chicago and is the immediate past chair of the board of directors of Bernie’s Book Bank. He also serves on the Northwestern Medicine Lake Forest Hospital philanthropic advisory council and the men’s golf pro-am committee for the Ann & Robert H. Lurie Children’s Memorial Hospital. He is the former treasurer and board member of the Gorton Community Center in Lake Forest, Illinois. In 2011, Jamie was selected as an Emerging Leader by the Chicago Council on Global Affairs. Jamie received his B.A. cum laude from Vanderbilt University and his M.B.A. with honors from the University of Chicago Booth School of Business.
Private Wealth Management Merchant Banking
Jamie Wildman, Partner
Nick Heymann Equity Research Co-Group Head, Global Industrial Infrastructure
Learn how the labor shortage, a shift to green energy, and the need to re-shore production are helping pave the way for capital spending through the end of this decade.
3 Key Factors Setting the Stage for Capital Spending
Nick Heymann, co-group head–global industrial infrastructure, joined William Blair in 2011. Heymann was managing director of global industrial infrastructure equity research at Sterne Agee for the last four years, leading an eight-person team covering 79 stocks in North America, South America, and Europe. Previously, he was senior vice president–equity research at Prudential Equity Group from 1997 to 2007; senior vice president–equity research at NatWest Securities from 1990 to 1997; and managing director–equity research at Drexel Burnham Lambert from 1983 to 1990. He has been named an Institutional Investor All-American analyst nine times and was ranked as the No. 2 stock-picker in electrical equipment by the Financial Times/StarMine in August 2013. Heymann has a B.S. in business administration from the University of Maine at Orono and an M.B.A. from the Tuck School of Business at Dartmouth.
Equity Research Co-Group Head, Global Industrial Infrastructure
Nick Heymann
Surveys Suggest Consumer Spending Swings to Experiences
With inflation top of mind among investors, learn how consumers responded to William Blair’s latest survey on food retail trends.
Survey Suggests Consumer Spending Swings to Experiences
Industrial Technology
The industrial tech market is experiencing sweeping changes in how it delivers services to clients. Smarter hardware coupled with software solutions and new business models are driving the change and fueling M&A activity.
Corey Ryan Investment Banking Managing Director
Shortening time spent pre-construction and on the job site reduces cost for developers.
Construction Industry Embraces Technology
Thinking about space differently than in the past will facilitate better environments and relationships.
Workspace Designed for Virtual Collaboration Rising
Internet healthcare consultation has tremendous growth prospects.
New Technology to Expand Care, Cut Costs
Understanding genetics results in targeted treatments and better patient outcomes.
Customizing Pharmaceutical Treatments
CAR-T and other advanced technologies transform healthcare.
Gene Therapy, Cell Therapy, Gene Editing Grab Spotlight
Personalized Medicine
Personalized medicine customizes the treatment for each patient using genetic information and gene therapies. It’s seen as the wave of the future for the drug industry, moving away from a one-size-fits-all approach to medicine to treating people in a more targeted and personalized way.
Tommy Sternberg, CFA Investment Management Global Equity Research Analyst
Vendors struggle to drive awareness and acceptance of technology.
Patients Slow to Engage Using Technology
Changing the health of a population to impact the cost of care is a long-term commitment.
Driving & Measuring ROI: A Messy Business
Investment in technology that addresses cost is becoming increasingly acute.
Incentives Need to Engage and Satisfy Patients
It is the early innings of healthcare consumerism and the shift toward value-based care.
Bullish on Patient Engagement
Patient Expectations and Provider Solutions
As healthcare shifts towards value-based care, providers are getting smarter about how to engage patients through technology as well as how to track and measure outcomes. The most successful vendors are those that provide patients some technology solutions but with a high degree of human touch.
Steve Tole Investment Banking Managing Director
The opportunity is to create a brand and capture a long-term revenue stream.
Loyalty Programs to Capture Millennial Market
Consumer-centric companies see an enormous opportunity in healthcare.
Non-Traditional Players Gain Market Share
Patient Engagement: The New IT in HCIT
Patient engagement and related technologies have been among the hottest investment areas in all of healthcare information technology (HCIT) as patients want to be treated more like consumers. If current healthcare providers miss the opportunity to engage patients, non-traditional players like Apple, Google, Amazon, and Walmart will be there to capture the market.
Increased Expectations of Brands
Consumers are shifting their buying to reflect their beliefs, spending more on discretionary items and less on consumer staples. This pattern is seen in both developed and emerging markets. Companies are paying close attention to the rising demand of these buyers, with a special focus on China.
Kwesi Smith, CFA Investment Management Global Senior Research Analyst
Parents and students challenged by the time and financial investment to earn a degree gives rise to more self-paced learning.
Push for Innovation is Seen in Higher Education
New educational models combine face-to-face learning with online programs.
Online Learning Impacts Pre-K to Corporate Training
Corporations adopt technology to hire the right person and keep them.
Workplace Education Supports Corporate Productivity Goals
New Models of Education
Technology is having an impact within the entire educational eco-system, from pre-K to corporate training. Institutions have better access to information that is allowing them to understand how individuals learn, changing the dynamics at every age group.
Corey Ryan joined William Blair in 2011 and focuses on Industrials. Previously he worked at BMO Capital Markets Corporation, Danaher Precision Systems, and iAutomation. Mr. Ryan holds a B. S. degree from the University of Illinois and an MBA from the University of Chicago.
Corey Ryan
Investment Banking Managing Director
Steve Tole joined William Blair in 2011 and focuses on healthcare. Previously he worked at Great Lakes Scrip Center and National City Bank. Mr. Tole holds a B. A. from Michigan State University and an MBA from the University of Chicago. He serves on the Board of Directors of the Michigan State Financial Markets Institute.
Steven Tole
Tommy Sternberg is a global equity research analyst. He covers large-cap healthcare companies. Previously, he was a research associate focused on the healthcare industry. Before joining William Blair in 2004, Tommy spent two years as an equity analyst in Oak Brook Bank’s investment management and trust department. He is a member of the CFA Institute and the CFA Society of Chicago. Tommy received a B.S. in economics from Duke University and an M.B.A. from the University of Chicago’s Booth School of Business.
Tommy Sternberg, CFA
Ryan Daniels, CFA, partner, joined William Blair in 2002 and focuses on healthcare technology and healthcare services. Previously, he worked with Deloitte Consulting’s M&A Advisory Services Group. Mr. Daniels holds a B.A. in economics from Northwestern University and earned an MBA from the Kellogg School of Management.
Ryan Daniels
Kwesi Smith is a global equity research analyst. He covers large-cap consumer companies. Before joining the firm in 2015, Kwesi was an equity research analyst for TimesSquare Capital Management for 10 years. In this role, he supported the firm’s research efforts across a variety of sectors, including healthcare, technology, media/cable, defense, and consumer, before focusing on healthcare. Before that, Kwesi worked at MetLife Investments as a technology, media/cable, and telecom fixed-income research analyst and provided credit analysis across a variety of fixed-income asset classes, including high yield, private placement, leveraged finance, and investment-grade public corporates. He is on the governing board of 3Arts and Breakthrough. He is also a member of the CFA Institute and the CFA Society of Chicago. Kwesi received a B.S. from the University of Virginia’s McIntire School of Commerce.
Kwesi Smith, CFA
Investment Management Global Senior Research Analyst
Sharon Zackfia, CFA, partner and group head–consumer sector, joined the equity research group of William Blair in 2000 with a focus on lifestyle and leisure brands, restaurants, and consumer technology. Previously, she worked in research at Credit Suisse First Boston and with the Nasdaq Stock Market and Jennison Associates. Zackfia has been recognized as a top earnings estimator multiple times in the StarMine Analyst Awards, including most recently in 2019. She was also recognized by The Wall Street Journal’s Best on the Street as the No. 1 stock analyst in restaurants in 2010 and 2011 and as the No. 2 analyst in 2010 in leisure goods and services, and was named the No. 1 stock picker in restaurants in both 2009 and 2010 in the Financial Times/StarMine World’s Top Analysts listing. Zackfia is a CFA charterholder and received a B.A. from Yale University. She also serves as a board member of the YWCA of Metropolitan Chicago.
Sharon Zackfia
Group Head of Consumer Sector, Equity Research
Consumers & Brand Intimacy
Successful companies position themselves to focus on consumers’ higher needs.
What are the Investment Opportunities?
Investors globally are looking at companies that help biomedical researchers find cures.
Real Estate Technology
The commercial real estate sector has embraced the latest tech to design, develop, and construct buildings, which is saving time and money. Meanwhile the residential sector, traditionally slower to adopt technology, is now changing as home buyers have expectations of shorter closing times and overnight mortgages.
Bullish on Industrial Tech M&A Market
The industrial tech M&A market is one of the hottest in the overall industrial space.
From the archives, get our take on trends that matter, including friction-free real estate transactions, personalized medicine, brand intimacy, consumer-centric healthcare, and more. Our experts share their views in the videos below.
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Providing Secure and Seamless IT Support
Many companies across industries have transitioned to 100% remote employees. As a result, IT companies are constantly working to provide seamless and secure remote support. However, this task comes with a unique set of challenges.
Jonathan Ho, Partner Equity Research Analyst, Cybersecurity and Security Technology
Jonathan Ho, partner, joined William Blair in 2005. Ho is an analyst specializing in cybersecurity and security technology. Previously, he worked as a lead software engineer and information technology project manager for seven years in the government/defense contracting industry. Ho holds a B.S. in finance and a B.S. in management science and statistics from the University of Maryland at College Park, an M.S. in information and telecommunications systems from the Johns Hopkins University, and an M.B.A. in finance and accounting from the University of Chicago.
Jonathan Ho, Partner
Equity Research Analyst, Cybersecurity and Security Technology
