Ticonderoga Securities, an institutional broker dealer specializing in equity trading and research, announced today the formal launch of coverage on eight asset management companies.
Managing Director Douglas Sipkin will cover asset management companies within Ticonderoga's recently established financial services sector. Sipkin joined Ticonderoga earlier this month and has spent his career in the industry. He helped establish the brokerage and asset management research vertical during his nine years at Wachovia, and most recently served as a research analyst at Pali Capital.
"This is another significant step forward as Ticonderoga builds out its newly-formed financial services group and continues to grow the firm's overall platform," said Shawn McLoughlin, CEO and Co-Founder of Ticonderoga Securities.
As part of today's launch, Ticonderoga has initiated coverage on the following companies:
| Artio Global Investors (ART) |
| BlackRock (BLK) |
| Eaton Vance (EV) |
| Franklin Resources (BEN) |
| Invesco (IVZ) |
| Janus Capital Group (JNS) |
| Legg Mason (LM) |
| T. Rowe Price Group (TROW) |
"This year will be difficult for asset management stocks. A tougher bond market, a slowdown in fixed-income flows, and continued pressure from ETFs highlight some of the risks we see moving into 2010," Sipkin said. "To start the year, we prefer names that are more equity-centric and more balanced geographically. Organic growth trends will likely have a more meaningful impact on relative stock performance considering appreciation benefits will not come as easily as they did in 2009."
Sipkin's initiations are the first in Ticonderoga's Financial Services Group, which will also include coverage of brokerage firms, exchanges, market structure and e-finance.
Ticonderoga Securities provides high quality, differentiated and actionable research. Its fundamental analysts have expertise and knowledge in technology, which includes semiconductors, tech supply chain, networking, IT hardware, and China technology and industrial and a daily overview of recent market trends and the economic outlook. Ticonderoga Securities analysts use traditional pattern recognition techniques coupled with a basic indicators (MACD, Stochastic, RSI, Bollinger Bands) approach.
About Ticonderoga Securities
In May 2009, Ticonderoga Securities LLC acquired Reynders, Gray & Co. Inc. a respected firm with more than 30-years of experience and an enviable track record. Ticonderoga Securities operates a dual capability with a New York Stock Exchange floor based team providing direct access as well as the desk based models. The firm concentrates on domestic and international equities and focuses on high quality, conflict free order execution, as well as a differentiated research offering to support its first class execution capabilities.
Contacts:
CJP Communications
Caroline Harris, 212-279-3115 ext. 222
charris@cjpcom.com
or
Kate
McGann, 212-279-3115 ext. 249
kmcgann@cjpcom.com
