Venugopal Garre is the Director of Research for India and Senior Analyst covering South and South East Asia Consumer Technologies and India Strategy at Bernstein. Venugopal joined Bernstein in 2016 from Barclays Capital, where he was a Director and Asia ex-Japan Head for Capital Goods and Transport. Prior to joining Barclays Capital, Venugopal spent seven years at Credit Suisse, where he covered Taiwan Technology first, then India Capital Goods, Consumer and Media. Venugopal holds a BA in Technology, and an MBA from the Indian Institute of Management. For the last decade, Venugopal has consistently ranked among the top analysts in the Institutional Investor and Asiamoney surveys; he was named II’s No. 1-ranked analyst in India Industrials in 2021.

Courtney Breen is the Senior Analyst at Bernstein covering US BioPharmaceuticals. Prior to joining Bernstein in 2023, Courtney spent seven years at Merck where she worked across access and pricing, policy, business development and strategic functions, most recently leading strategy and operations for Merck’s >$20B Oncology business. In this role Courtney led a team focused on crafting and delivering on the Oncology business long-term strategy, steering life-cycle management for Merck’s blockbuster Keytruda, and developing strategic investment cases for Merck’s oncology portfolio. Prior to Merck, Courtney was a consultant at Bain & Co., and earlier in her career, worked in academia at the Centre for Brain Research at the University of Auckland. Courtney holds a BSc(Hons) in Pharmacology from the University of Otago in New Zealand, and her peer-reviewed publications focus on access to medicines and Cannabinoid receptors.

Pranav Gundlapalle is the Senior Analyst at Bernstein covering India Financials. Prior to joining Bernstein in 2018, Pranav was an Investment Manager for three years at Peepul Capital, a private equity fund in India, where he focused on investments in the financial services sector. Before Peepul Capital, Pranav worked at McKinsey & Co, where he served financial services clients in Asia on a wide range of topics including consumer lending, SME banking, physical network optimization, and risk management. Earlier in his career, Pranav was part of the credit derivatives team at Lehman Brothers/Nomura in Tokyo and Hong Kong. Pranav holds a BTech in Mechanical Engineering from the Indian Institute of Technology (IIT) Madras and a post-graduate diploma in Management and Finance from the Indian School of Business, and is a CFA charterholder.

Lee Hambright is the Senior Analyst at Bernstein covering US Medical Devices. Lee joined Bernstein in 2017 with extensive experience in medical devices, pharmaceuticals and healthcare technology, having spent five years at Medtronic, where he was VP of Business Development & Strategy for the Spine business, and eight years at McKinsey & Co., serving medical device and pharma companies on strategy, marketing and sales engagements. Lee also held leadership roles at an early-stage healthcare IT company and at Waters Corporation, a life sciences tools company. Lee earned a BBA in Accounting and Philosophy summa cum laude from Notre Dame and an MBA from Harvard.

Danilo Gargiulo is the Senior Analyst covering US Restaurants at Bernstein. Danilo joined Bernstein in 2021 from CentralSquare Technologies, an enterprise software company where he was Senior Vice President of Product Management and Business Transformation with responsibility for corporate strategy, new product launches, and strategic partnerships. Prior to joining CentralSquare in 2019, Danilo spent six years at McKinsey in the Transformation practice with clients across the consumer, retail and financial sectors. Earlier in his career, Danilo worked in the Office of the CEO of Investment Banking at Lloyds Banking Group in London, and as an analyst at TDX Group in Nottingham, UK. Danilo holds a BSc in Economics from Universitá Degli Studi di Napoli “Federico II” in Naples, a MSc in Economics from Bocconi University in Milan, and an MBA with Honors from the University of Chicago, Booth School of Business. In 2024, Extel named Danilo Runner-Up on its All-America Research Team.

Aleksander Peterc is a Senior Analyst heading Bernstein’s European Small & Mid Cap equity research team. Aleksander has over thirty years of experience as a sell-side analyst, having joined SG’s equity research team in 2016. Prior to SG, Aleksander spent 15 years as a sell-side analyst at Exane BNP Paribas, where he headed IT Hardware equity research; Aleksander’s team ranked in the Top 5 in the Extel survey every year from 2008, with Aleksander ranking No. 1 individually on more than one occasion. Aleksander spent his early career in various sell-side roles, covering IT Hardware at Natixis, Eastern European emerging markets at SG UK, and Capital Goods at SG in Paris. Aleksander holds a degree in Engineering from Ecole Nationale Supérieure des Mines de Paris.

Alex (Hanxu) Wang is the Research Analyst at Bernstein covering Asia Tech Hardware. Prior to the current role, Alex spent three years as the Senior Research Associate in Asia Semiconductors & Semiconductor Equipment and Global Memory franchise and was heavily involved in the initiation of European semi and Japan Biopharma franchises. Alex joined Bernstein in 2018 as the Research Associate to support the Global EV team, after spending two years at CRISIL supporting the same team as an offshore research associate. Alex is a CFA Charterholder and completed a Masters of Finance and Bachelors in International Business at Grenoble Graduate School of Business in France. 

Alexia Howard is the Senior Analyst at Bernstein covering US Food. Before joining Bernstein in 2005, Alexia was a consultant with Marakon, working with leaders of consumer products companies and retailers to develop strategies, improve organizational capabilities, and allocate resources to enhance shareholder value. She has more than 10 years of consulting experience, being based in London, Continental Europe, Chicago, and on the U.S. West Coast. Her accomplishments in the food and beverage industries have included developing corporate acquisition strategies, optimizing the allocation of marketing spend across regions and media types, embedding strategic decision-making capabilities, and streamlining product portfolios. Alexia earned her BA with Honors in Economics at Cambridge University, England, in 1991, and her MBA from INSEAD, France, in 1998. Alexia has been named to Institutional Investor's All-America Research Team every year since 2007; in 2024 she was Extel's No. 3-ranked analyst in the Food sector.

Aneesha Sherman is the Senior Analyst at Bernstein covering US Apparel & Specialty Retail. Aneesha joined Bernstein in 2019 and was ranked Runner-up in the 2024 All-American Research Poll by Extel. Prior to Bernstein, Aneesha spent 15 years working in US Consumer & Retail, including four years at off-price retailer Ross Stores, working on Merchandising, Allocation, Brand launches and Store growth strategy, and eight years in the Retail practice of the Boston Consulting Group, working with Specialty, Department Store, E-commerce and Big box retailers. Aneesha has also led the Global Strategy team at Intercontinental Hotels Group and worked in Brand Management at Kraft and Mars. Aneesha holds BA degrees in International Relations and Business from University of Pennsylvania and the Wharton School, where she was named a Joseph Wharton scholar, and an MBA from the Kellogg School of Management, where she was an F.C. Austin Scholar.

Ann Larson is the Head of US Quantitative Research at Bernstein. Ann joined Bernstein’s Institutional Sales team in 1994, moved to the Equity Portfolio Strategy Group as an associate in 1995, and became a Senior Quantitative Analyst in 1999. She currently leads the US Quant Team, and conducts, publishes and markets its quantitative research, developing multivariate stock-selection models, and working with institutional clients to implement customized quantitative solutions. Ann earned a BBA in Information Systems and an MBA with a concentration in Finance from Loyola University in Maryland. She has been named a Top US Analyst in Quantitative Research by Bloomberg Markets magazine. In its 2019 poll, Institutional Investor named Ann a Runner-Up in the US Quantitative Research sector.

Annick Maas is a Senior Analyst covering European Media at Bernstein. Annick has 12 years of experience covering Media & Internet stocks, having joined SocGen in 2022 from BNP Paribas Exane, where she was part of the Institutional Investor No. 1-ranked media team, and covered 15 companies in the advertising, subscription, and transactional business models. Earlier in her career, Annick spent five years at Liberum. Annick holds MSc degrees from the London School of Economics and Bayes Business School (ex-Cass Business School); she is fluent in five languages, including French, German and English.

Boris Van is the Senior Analyst covering Asia Software Technologies at Bernstein. Prior to joining Bernstein in 2021, Boris spent nearly ten years at McKinsey & Company in Greater China and South-east Asia, most recently as Associate Partner in the Asia digital practice, where he worked across a broad range of Chinese and regional companies to design their software and IT stack alongside defining their digital transformation strategies. Boris started his career in investment banking at Citi in New York. Boris holds a BA in History from Harvard University.

Chad Dillard is the Senior Analyst at Bernstein covering US Machinery. Prior to joining Bernstein in 2020, Chad was a Senior Analyst at Deutsche Bank covering both the Machinery and Engineering & Construction sectors, where he was recognized as a “Rising Star” by Institutional Investor in 2016, 2017 and 2018. Chad began his tenure at DB in 2011 as an associate on the Semiconductor Equipment and Machinery teams, and was promoted to lead analyst covering the Engineering & Construction sector and then later assumed lead coverage of US Machinery. Earlier in his career, Chad worked as an associate in product management and development at Blackrock and an analytics consultant at Bloomberg. Chad earned a BA in Economics and Sociology from the University of Michigan and an MBA from Columbia Business School, where he was awarded the Charles H. Brunie Scholarship. In 2024, Extel recognized Chad as a Runner-Up on its All-America Research Team.

David Dai is the Senior Analyst at Bernstein covering the Japan Semiconductor sector. Before returning to Bernstein in 2024, David spent three and half years as a Tech PM and Senior Analyst at Torq Capital Management and Tybourne Capital Management, respectively. David originally joined Bernstein in 2013, and spent eight years covering TMT, including Asia Semiconductors, Hardware, and China Internet. David came to the investment business with a strong technology background and nine years of work experience in the IT industry, including roles developing software and forming IT strategies for various firms, most significantly as a Senior Consultant at Microsoft/Accenture JV. David holds a BA in Computer Engineering from Nanyang Technological University, an MA in Software Engineering from National University of Singapore, and an MBA from INSEAD, and is a CFA charterholder.

Deepa Venkateswaran is the Senior Analyst at Bernstein heading the firm's European Utilities and Clean Energy coverage and has been covering the sector for over a decade. Prior to joining Bernstein in 2013, Deepa was a Junior Partner in the London office of McKinsey & Company serving clients in the European power and utilities sector, and a member of the leadership team in McKinsey’s Utilities & Regulatory practices. While at McKinsey, she acquired deep knowledge of the entire power and gas value chain built up during the course of serving leading players on topics of strategy & growth, corporate finance, and regulation. She focused significantly on regulation of power markets across Europe, supporting players and think tanks on the optimal regulatory posture and reform required in the face of the evolving dynamics in the European power sector. Deepa has an MBA with Distinction and a concentration in Finance from London Business School. She also qualified as a Chartered Accountant with Arthur Andersen. Since 2017, Deepa has been named to Institutional Investor’s All-Europe Research Team; in Extel's 2024 annual survey, she’s Runner-Up in her sector.         

Delphine Le Louët is the Senior Analyst at Bernstein covering European SMID Healthcare. Before joining Societe Generale Paris in 2014, where she covered European SMID-Cap Biotech, then European Medtech companies, Delphine spent a year at Merck Group in Germany as Director of Investor Relations, focused on Merck Serono. Prior to Merck, she worked for Lombard Odier in Geneva, Switzerland for 11 years, latterly as Senior Vice President responsible for asset allocation in healthcare and for multi-sector thematic research. Delphine earned an MSc in Finance from Dauphine University, Paris, an MSc in Finance & Entrepreneurship from EM Lyon Business school, and completed the second year of an MBA program at Case Western Reserve University (Ohio, USA). Delphine is a Certified International Investment Analysis (CIIA) and CESGA (ESG) charterholder.

Emilie Pasquier is a Senior Research Associate on the Sustainability Research team at Bernstein. Emilie joined Societe Generale in 2016 as a Sales Analyst on Structured Products for SG's Retail Network business in France, and subsequently joined SG's Cross Asset Research team in 2020 as a Sustainability analyst. Emilie holds a degree from ESSEC Business School.

Eunice Lee is the Senior Analyst at Bernstein covering Asia Autos. Eunice joined Bernstein in 2018 as a Senior Research Associate working on both the Global Gaming and Asia Logistics and Travel teams. Prior to joining Bernstein, Eunice spent five years at PricewaterhouseCoopers in California and New York as a Manager in Transaction Services, PwC’s corporate finance advisory, where she advised clients on business enterprise valuations, Chapter 11 reorganization. out of court restructuring cases, business and financial due diligence, cash flow management, and strategic assessments. Eunice holds BSc degrees from the University of Southern California in Business (Finance) and Accounting, and an MBA from Columbia Business School’s Value Investing Program; Eunice is also a CFA charterholder.

Eve Burstein is the Senior Analyst at Bernstein covering US Life Sciences Tools & Diagnostics. Eve joined Bernstein in 2022 from McKinsey, where she served healthcare clients on topics including growth strategy, operational improvement, and post-merger integration. Eve also led knowledge development for McKinsey in areas of Next Generation Care Management and Digital Health. Prior to McKinsey, Eve was in a research role at Memorial Sloan-Kettering Cancer Center in Epidemiology and Biostatistics, where she managed development of a novel method for analyzing MRIs. Eve holds a BA in Psychology from Yale, and both MBA and MPH degrees from the University of Michigan, Ann Arbor.

Harshita Rawat is the Senior Analyst at Bernstein covering US Payments, Processors and IT Services. Harshita joined Bernstein in 2013 as a Senior Research Associate, working for three years on the Payments, Processors and IT services team, which was Institutional Investor’s No. 1-ranked team in the sector in 2017. Prior to Bernstein, Harshita worked at Deutsche Bank in Mumbai for the Asia Commodities Sales and Origination team. Harshita holds an MBA from London Business School, earned dual degrees (BTech and MTech) in Electrical Engineering from IIT Mumbai, and is a CFA charterholder. Harshita has been recognized as a top analyst by Institutional Investor since 2019; she is the No. 3-ranked analyst in her sector in Extel's 2024 All-America Research Team.

Irene Himona is a Senior Analyst covering European Oil & Gas Exploration & Production at Bernstein. Before Irene re-joined SG in 2010 as Sector Head, Oil & Gas, she worked as sector head at Exane BNP Paribas for four years, and at Morgan Stanley as oil sector co-head for six years. Early in her career, Irene worked at SG as an oils analyst. Irene holds a First Class BSc in Economics/Statistics, an MSc with Distinction in Energy Economics, and a PhD in Petroleum Economics from Surrey University.

Jay Huang is Head of the Global Artificial Intelligence Initiative at Bernstein and the Sector Head of Asia Industrial Technologies. His coverage includes automation and other advanced industrial technologies such as machine vision, laser, IIoT, and artificial intelligence. Jay joined Bernstein in 2013 from McKinsey, where he was a Co-Leader of the Advanced Industry Practice in Beijing. At McKinsey, Jay focused on strategic and operational projects for multinational and Chinese corporates across the factory automation, electrical equipment, machinery, and high-tech industrial sectors. Jay holds a PhD in Applied Physics (focusing on laser technology) from Stanford University and a BSc in Physics from Beijing University.

Jignanshu Gor is the Senior Analyst at Bernstein covering the India Emerging Consumer sector. Jignanshu joined Bernstein in 2024 from Mahindra & Mahindra, one of India’s largest auto manufacturers, where he held a series of roles at Mahindra’s Group Strategy office as well as its online pre-owned vehicles unit, including Chief Business Officer and Chief Strategy Officer. Prior to M&M, Jignanshu led consulting projects, including at Boston Consulting Group, focused on transformation projects in hospitality, retail & travel retail, infrastructure, industrials and real estate spaces. Jignanshu holds a BE in Electrical Engineering from MS University Baroda and an MBA from IIM Calcutta.

Laurent Yoon is a Senior Analyst covering US Media and Telecom at Bernstein. Prior to joining Bernstein in 2022, Laurent was the Head of Strategic Investments at Comcast, where he established, built, and ran the corporate investment function. In his role at Comcast, Laurent led the C-suite process on investment and acquisition decisions from deal sourcing to execution, and developed growth strategies and investment theses across video, ad-tech, personalized connectivity, and adjacent growth areas like gaming and IoT. Previously, Laurent was an executive in corporate strategy at AT&T, and earlier in his career, he was an Associate Partner at McKinsey in the TMT practice, where he served clients in North America, EMEA, and APAC. Laurent holds a BSc and PhD from the University of Southern California and an MBA from Columbia Business School. Laurent was recognized as Runner-Up for US Media in Extel’s 2024 All-America Research Team.

Lisa Clive is the Senior Analyst at Bernstein covering European Medical Devices & Services. Lisa joined Bernstein in 2006 as a Research Associate for the European Healthcare team, focused on Medical Devices and Mid-Cap Pharmaceuticals. She became a Senior Analyst in 2011, narrowing her focus to Medical Devices & Services. Previously, she was an Associate in the European Healthcare Investment Banking group at Credit Suisse based in London. Prior to moving to London, Lisa spent three years in Credit Suisse's Equity Capital Markets group in New York. She earned a BA in Politics (with an additional focus on Pre-Med Studies) from Princeton University. Lisa has been consistently named to Institutional Investor's All-Europe Research Team, and was voted #1 in her sector in 2019.

Manas Agrawal is the Research Analyst covering India Asset Management & Insurance at Bernstein. Manas joined Bernstein in 2020 and has close to a decade in corporate experience across research, investment banking, lending, and tax advisory. Prior to his current coverage, he spent time researching India Financials, Global Digital Assets, and US Media businesses at Bernstein. Manas holds an MBA from the Indian Institute of Management, Ahmedabad (IIM-A), a BCom from Mithibai College, Mumbai University, and is also a Chartered Accountant (CPA equivalent).

Marie-Line Fort is a Senior Analyst covering the Mid & Small Cap sector at Bernstein. Prior to joining SG in 2001, Marie-Line had worked as an equity research analyst at CCF Securities since 1998. Earlier in her career, Marie-Line had worked as a junior analyst at Schroders Securities. Marie holds a postgraduate diploma from Dauphine University. In its 2017 survey, Thomson Extel recognized SG's Mid & Small Cap team as No. 4 in France and No. 6 in Europe.

Mark Li is the Senior Analyst at Bernstein covering Asia Semiconductors & Semiconductor Equipment, responsible for researching the foundries, OSATs (outsourced semiconductor assembly & test), IC design and semiconductor equipment companies in Asia and Europe. Prior to joining Bernstein in 2010, Mark worked for TSMC, Taiwan Semiconductor Manufacturing Company, for nearly eight years in sales, marketing and strategic planning. In this period, he participated in many corporate-wide strategic initiatives and developed expertise across the semiconductor value chain. He was also a member of the team that developed and executed TSMC’s business strategy in LED and solar space. Prior to TSMC, Mark worked at Siebel Systems, leading product development for Siebel's products on the platform of Sun Microsystems. Born and raised in Taiwan, Mark holds a BA from National Taiwan University, an MS in electrical engineering from Stanford University, and an MBA from the Wharton School of the University of Pennsylvania.

Masahiro Akita is the Senior Analyst covering Japanese Autos & Auto Parts at Bernstein. Masahiro joined Bernstein in 2024 from Frontier Management, where he was a Senior Consultant engaged in projects related to the autos and auto parts sector. Prior to Frontier Management, Masahiro spent 13 years at Credit Suisse Securities as Senior Analyst and lead of the Japan Auto Team, covering a wide range of companies, and leading thematic research for the firm’s Global Auto Team. Earlier in his career, Masahiro held roles in sales and business planning at Aisin Seiki (currently Aisin), one of the largest Japanese auto parts suppliers. Masahiro holds a BA in Commerce from Waseda University and an MBA from HEC Paris.

Melinda Hu leads Bernstein's Asia Consumer sector coverage as Senior Analyst, bringing over a decade of hands-on experience in consumer markets across luxury and mass segments. Before joining Bernstein in 2018, she served as Director of Finance and Strategy at Walmart Asia, where she led strategic planning and executive communications for one of the world's largest retailers. Her extensive experience includes managing APAC regional finance at Christian Dior Couture and various finance roles across L'Oréal UK's luxury and consumer divisions. Melinda combines deep operational knowledge with strategic insight, holding an MBA from the University of Chicago Booth School of Business, US and an undergraduate degree in Commerce from the University of New South Wales, Australia.

Miki Sogi is the Senior Analyst covering Japan Biopharma at Bernstein in Tokyo. Prior to joining Bernstein in 2022, Miki was an Associate Partner in the Healthcare practice at McKinsey. Earlier in her career Miki worked at AstraZeneca, Sanofi, and Novartis, holding senior roles in product marketing and corporate strategy in Japan and the US. Miki holds a PhD in organic chemistry from Harvard and an undergraduate degree in chemistry from University of Tokyo; Miki was a post-doctoral research fellow at Memorial Sloane Kettering Cancer Center in New York.

Nadine Sarwat is the Research Analyst at Bernstein covering American & European Beverages and North American Cannabis. Nadine joined Bernstein in 2016 and the European Beverages team in 2019. In 2021, she led the team’s initiation of coverage of US alcohol. In its 2024 survey, Extel named both Bernstein’s European Beverage and US Beverage teams as Runners-Up on its All-Europe Research and All-America Research teams. Earlier in her career at Bernstein, Nadine was a Senior Research Associate covering European Oil Services and contributed to the team achieving #1 positions in external rankings over multiple years, including Institutional Investor. Nadine holds a BA (Hons) Economics from Cambridge University and an MSc in Finance from London School of Economics; she is also a CFA charterholder.

Nimit Agarwal has been an ESG Research Analyst since 2010. Prior to joining SG’s SRI team in 2014, he worked in the GS Sustain team at Goldman Sachs (including 1.5 years based in London). He is a qualified Chartered Accountant and Company Secretary and has obtained the CFA Institute Certificate in ESG Investing.

Qingyuan Lin is the Senior Analyst at Bernstein covering China Semiconductors. Prior to joining Bernstein in 2023, Qingyuan was a Principal at Boston Consulting Group (BCG) in the Greater China TMT practice and led cases in the semiconductor sector in APAC, North America, and Europe with a wide range of topics from strategy to technology. Qingyuan holds a BSc with honors in Physics from Peking University, and a PhD in Materials Science and Engineering from Northwestern University, where he received the Outstanding Researcher Award from the International Institute for Nanotechnology. His research focused on nanomaterial assembly for optical metamaterials, with 15 publications including a first-author paper in the journal Science.

Rahul Malhotra is the Senior Analyst at Bernstein covering India Technology, Media & Internet. Prior to joining Bernstein in 2019, Rahul worked in private equity at Multiples PE Fund in Mumbai, where he focused on the technology and consumer sectors. Earlier in his career, Rahul spent over 15 years in M&A and strategy roles for many of the leading players in the India IT Services industry, such as Tech Mahindra, HCL and Mindtree. He began his career as a consultant at Sapient and Accenture in the US. Rahul holds an MBA from Indian School of Business Hyderabad and a B-Tech in Electronics Engineering from IIT BHU, Varanasi.

Rebecca Liang is the Senior Analyst at Bernstein covering China Pharma and Biotech. Prior to joining Bernstein in 2020, Rebecca was Associate Director of Strategy and Special Projects at South China Morning Post SCMP. Before SCMP, Rebecca spent four years at BASF, most recently as Regional Marketing Manager, where she worked with pharmaceutical companies on strategy projects. Earlier in her career, she worked for McKinsey servicing clients in pharmaceuticals and life sciences on corporate strategy. Rebecca holds a PhD in Chemistry from Harvard University and BSc in Chemistry from Georgia Tech.

Richard Nguyen is a Senior Analyst at Bernstein covering Global Software. Richard joined SG in September 2007, having covered the sector since 2000 after a career as a consultant in the IT industry. Individually, Richard has been regularly ranked in the Top 10 in the Extel survey rankings, twice in the Top 5, while his team has also been recognised frequently in the Extel Top 10 and once in the Top 5. Richard holds an MA in Applied Mathematics from the University of Paris Denis Diderot and an MA in Economics from the University of Paris Sorbonne, as well as postgraduate degrees in Computer Science (Paris Orsay University), Business Administration (University of Paris Sorbonne), and Finance (ESSEC).

Robin Zhu is the Senior Analyst at Bernstein covering China Internet and Japan Video Gaming. Robin joined Bernstein in 2012 as Senior Research Associate on the Institutional Investor-ranked Global Autos franchise, and was Bernstein’s senior analyst for Asia Autos in 2015-2020. Robin has been a lifelong gamer who now applies a hands-on approach to gaming research. Prior to Bernstein, Robin worked in the Investment Banking Division at UBS, where he was responsible for corporate finance and M&A transactions in the autos, industrials, and consumer sectors. Robin holds a BA with Honours in Economics & Management from the University of Oxford. Robin has been recognised by Refinitiv StarMine on several occasions, including Top Earnings Estimator in 2018-2020.

Rupal Agarwal is the Asia Quantitative Strategist for Bernstein. Rupal joined Bernstein in 2019 with more than 11 years of experience in quantitative research, strategy, sales and change management. Most recently she was a Vice President in Nomura’s Global Change Management group, handling strategy and implementation of large scale projects such as MiFID2, Brexit, and Nomura India’s Fintech program. Earlier in her time at Nomura, Rupal was a quant specialist in sales covering European and Asian clients, having started her career in 2007 as a quant analyst on Lehman Brothers US Quant Research Team. Rupal holds dual degrees (BTech and MTech) in Mechanical Engineering from Indian Institute of Technology-Bombay (IITB), and her work on Artificial Intelligence has been published in academic journals.

Sabrina Blanc is a Senior Analyst covering European Hotels, Leisure and Catering at Bernstein. Sabrina joined SG in 2006, initially following the European banking sector. Prior to joining SG, Sabrina spent six years as coordinator of the European Banks sector for the European Securities Network at CM-CIC Securities. She started her sell-side career covering banks at ING Ferri in 1994, then joined UAP Gestion Financière as a buy-side analyst, before returning to ING Ferri as a sell-side banks analyst in 1997. Sabrina holds an MA in Economics from the University of Aix - Marseille III and an MBA from ESC Marseille; she is also member of the SFAF.

Sara Russo is the Senior Analyst covering European Semiconductors at Bernstein. Prior to joining Bernstein in 2022, Sara spent five years at Arm in Cambridge, England, most recently as the Senior Director of Strategic Programmes working on Arm Flexible Access. Earlier in her time at Arm, she was Director of IT Partnering and Planning, leading a team of 40 people and developing Arms’s IT portfolio management network. Before Arm, Sara was Head of Commercial Planning for the Enterprise IT business at BT, Head of Strategy and Transformation for BT Enterprises, and worked on a joint venture with Dolby Voice. Earlier in her career, she held roles at Omgeo, Burntsand, and Technology Services Group. Sara holds a BA in Mathematics magna cum laude from St Mary’s College, where she was the top mathematics graduate, an MLA in Extension Studies-Educational Technology from Harvard University, and an MBA from Dartmouth’s Tuck School of Business.

Susannah Ludwig is a Research Analyst at Bernstein covering the EU Consumer Medical Technologies sector. Susannah joined Bernstein in 2019, first as a Senior Research Associate on the European Medical Devices & Services team, where she drove the team’s thematic work on in vitro diagnostics; she launched her own coverage in 2023. Earlier in her career, Susannah spent eight years at Goldman Sachs advising corporates and private equity funds on FX and interest rate derivative hedging. Susannah holds a BA in Economics with distinction from Amherst College and an MBA with distinction from INSEAD.

Valerie Jacob is a Senior Analyst covering Property/Real Estate at Bernstein. Valerie joined SG in 2023 with over 17 years of experience in Real Estate equities, including 13 years at Exane BNP Paribas as a Managing Director, leading the top-ranked European equity Real Estate team. She also worked as head of IR & corporate development for a listed REIT investing in shopping centres, and as a Fund Manager for the Global Listed Real Estate team at abrdn. Valerie holds a degree in Finance from HEC Paris.

Zhihan Ma is the Senior Analyst covering US Retailing Broadlines and Hardlines at Bernstein. Zhihan has covered the Consumer and ESG sectors since joining Bernstein in 2017, most recently as Bernstein’s Global Head of ESG and Senior ESG Analyst. Zhihan was recognized by Institutional Investor as a top-ranked analyst in ESG Research in 2023. Prior to joining Bernstein, Zhihan worked at Goldman Sachs Asset Management Hedge Fund Strategies in New York and London. During business school, Zhihan worked for the Bill & Melinda Gates Foundation, focusing on Agricultural development in India and Africa. Zhihan holds an MBA with distinction from Harvard Business School and a BA summa cum laude from Princeton University’s School of Public and International Affairs. Zhihan earned her Fundamentals of Sustainability Accounting (FSA) credential as part of her work on sustainability, and is a CFA charterholder.

Alasdair Leslie is a Senior Analyst covering European Capital Goods sector at Bernstein. Alasdair joined SG in 2012 with more than 20 years of experience covering the sector, having started his career at Dresdner Kleinwort as a member of the No. 1-ranked Capital Goods team by Thomson Extel (2005-2007). Prior to joining SG, he also worked at New Street Research and UniCredit. Alasdair holds a BA degree in Economics from University of Leeds in England and is a CFA charterholder.

Alex Irving is the Senior Analyst at Bernstein covering European Transport. Alex has covered the transports sector since 2021 and his blackbook publications include, “The Golden Age of Air Cargo”, “Wizz Air vs Ryanair: A Challenger to the King”, “A Twist of Freight” and “Ryanair: Aviation’s most surprising destination… Cash returns”. Alex was named “Runner Up” in Extel/Institutional Investor’s annual surveys in 2023 and 2024. Prior to joining Bernstein, Alex worked for Canada Life Investments as a Credit Analyst covering the utilities, real estate and business services sectors, and was a Senior Economic Analyst in Financial Services Transfer Pricing at Ernst & Young. Alex holds a BSc with first class honors in Management from the London School of Economics, and is a CFA charterholder.

Bartlomiej Kubicki is a Senior Analyst at Bernstein covering European Utilities and Energy Infrastructure companies. Prior to joining SG in 2014, Bartlomiej worked for the Vienna-based Raiffeisen Centrobank as a Senior Analyst and Strategist for Poland focusing on utilities, mining, real-estate, construction and logistics sectors. Additionally, Bartlomiej has worked for a number of financial institutions in Switzerland, Ireland, Slovakia and Poland. Bartlomiej holds an MA in Finance from Poznan University of Economics and Business, and is a charterholder of both the CFA and CAIA.

Bob Brackett is the Senior Analyst at Bernstein covering Global Metals & Mining and Americas Energy Transition. Prior to joining Bernstein in 2010, Bob was Director of E&P Planning and Director of Corporate Strategy at Hess Corporation. Before Hess, he was an Engagement Manager with McKinsey & Company's Petroleum Practice, serving the world’s largest oil companies across five continents and 30 countries throughout the petroleum value chain. Bob began his career with ExxonMobil, spending eight years in positions in exploration, business development, and research. As a NASA Space Grant Fellow, Bob received his PhD in Earth & Planetary Sciences from Washington University in St. Louis. He received his MBA from Rice University. He also holds a BS in Geophysics and a BA in Astronomy from the University of Texas. For several years, Bob has been recognized by Institutional Investor as a top-ranked analyst in his sector; in 2024, Extel named Bob Runner-Up on its All-America Research Team.

Brian Ho is an Equity Research Analyst at Bernstein covering the Global Energy Storage sector. Brian has more than 10 years of sell-side energy research experience, having joined Bernstein’s Institutional Investor-ranked Global Energy franchise in 2018 supporting the Asia-Pacific Oil & Gas and Global Energy Storage team. Prior to joining Bernstein, Brian worked in Commodities Research and Trading on J.P. Morgan’s Proprietary Trading desk and in Equity Research at Credit Suisse covering the North American Energy sector. Brian holds an MBA from the Hong Kong University of Science and Technology (HKUST) and Bachelor's degrees in Applied Mathematics and Finance from the University of Calgary. Brian is a CFA Charterholder.

Callum Elliott is the Senior Analyst at Bernstein covering European Food, Household & Personal Products and US Tobacco & Nicotine. Callum joined Bernstein in 2014 and has spent the last decade covering Beverages, and Household and Personal Products, both in the US and Europe, first as a Senior Research Associate on Bernstein’s European Beverages team, which was consistently top-ranked by Institutional Investor and Extel. As an Analyst, Callum launched his coverage of US Beverages/HPP and US Tobacco & Nicotine in 2021. In its 2024 survey, Extel recognized the US Beverages team as a Runner-Up on its All-America Research Team. Prior to Bernstein, Callum spent nearly five years at FTI Consulting/Compass Lexecon as part of its top-ranked Economic Consulting practice; while there, he worked on specialist valuation and econometrics projects in the context of regulatory, antitrust, and litigation proceedings. Callum holds a BSc in Mathematics, Operational Research, Statistics and Economics from the University of Warwick, is a CFA charterholder and a qualified chartered accountant (ACA).

Christophe Cherblanc is a Senior Analyst covering European Media at Bernstein. Christophe joined SG in 1996, and Thomson Extel has recognized him as the No. 2-, 3- and 4-ranked Pan European Media analyst in 2017, 2016, and 2015, respectively. SG’s Media team was also recognized by Thomson Extel in those years, with the No. 4 ranking in 2017 & 2016, and No. 6 in 2015. Christophe holds an MBA from Hautes Etudes Commerciales (HEC).

Daniel Roeska is the Senior Analyst at Bernstein covering US Autos. Daniel joined Bernstein in 2016 with more than two decades of experience in industry to build the European Transport franchise. His experience covers strategy, restructuring, and operations in air mobility and logistics across industry-leading organizations and strategy consulting. Daniel re-launched Bernstein’s European Autos coverage in 2022 with a strong focus on future mobility and technology. In 2024, he is building Bernstein’s coverage of the US Automotive space. Daniel's research has been widely recognized by Institutional Investor; in its 2024 survey, Extel named Daniel Runner-Up in its All-Europe Research Team. Daniel holds a Diplom-Kaufmann (MBA) from the Otto Beisheim School of Management.

David Vernon is the Senior Analyst at Bernstein covering Airfreight & Surface Transportation and US Airlines. Prior to joining Bernstein in 2010, Dave was a senior executive at several leading international transportation companies. His management experience includes positions on the Executive Management Board of DHL Express US, and senior executive roles in the supply chain solution development and third-party logistics management with the NOL Group (parent company to APL and APL Logistics). Dave began his career with A.T. Kearney's Transportation Consulting Practice, where he advised companies in the rail, express, trucking, and third-party logistics industries. As a consultant, he did extensive work benchmarking the US rail industry and working on several projects associated with the consolidation of the North American rail industry. Dave holds an undergraduate degree from the Wharton School at the University of Pennsylvania and an MBA from Harvard Business School. Dave has been named to Institutional Investor's All-American Research Team since 2016; in 2019 he was Runner-Up in Airfreight & Surface Transportation.

Derric Marcon is a Senior Analyst at Bernstein covering Global Software. Derrick joined SG in 2010 with 11 years of experience covering Software and IT Services at both Kepler Capital Markets (2005-2010) and ING Financial Markets (2004-2010). At Kepler, Derric was recognized as a Top 10-ranked analyst in the annual Thomson Extel survey, a position he maintained into his tenure at SG. Derric holds an MA in Finance from the University of Paris XII.

Doug Harned is the Senior Analyst at Bernstein covering Global Aerospace & Defense. Doug joined Bernstein in 2004 from McKinsey & Company, where he was a Partner and leader of the Aerospace & Defense practice, advising major aerospace companies in the United States, Western Europe, and Russia. Doug led McKinsey’s research on commercial aircraft cycles, industrial implications of defense transformation, and the future of the Russian aerospace industry. Prior to McKinsey, Doug was a senior scientist at SAIC. He also held scientific research positions at the Courant Institute for Mathematical Sciences, Max Planck Institute for Plasma Physics, and Los Alamos National Laboratory. He earned an MBA with Distinction from the Wharton School, a PhD in Nuclear Engineering from the University of California at Berkeley, and a BS from Northwestern University. Doug has held number one rankings among Aerospace & Defense analysts in external surveys, including Greenwich Associates, Institutional Investor, StarMine, and the Wall Street Journal. At Bernstein, Doug's work has included: "China Aboard: From the Middle Cabin to the Middle Seat," "Commercial Aircraft Engines: Who's got the Power?," "Global Defense: In Years of Living Dangerously," and "Cybersecurity: Innovation by Provocation."

Euan McLeish is the Senior Analyst at Bernstein covering the Asia Pacific Beverages industry. Prior to joining Bernstein, Euan spent 11 years at SABMiller, most recently in Hong Kong as SABMiller Asia’s Regional Head of Strategy and a Director of SABMiller’s Korean subsidiary. Euan also held positions with SABMiller in Australia, as an Integration Leader, and in London where he worked for SABMiller’s Corporate Finance team focusing on the acquisition and disposal of breweries, maltings, spirits, and soft drinks businesses in Asia Pacific, Russia/CIS, Western Europe and The Americas. Euan worked in Investment Banking in New York and for a startup company London before joining SABMiller. Euan holds a joint degree with honors in Economics and English from St. Andrews University.

Flavien Baudemont is a Senior Research Associate covering Mid & Small Cap stocks at Bernstein. Prior to joining Societe Generale in 2023, Flavien worked at Berenberg in the European Small & Mid Cap division covering mainly French companies. During his education, Flavien completed an internship in SG's Mid & Small Caps Equity Research team. Flavien holds an MA in Management from Kedge Business School, and a BA in Finance from the Université Catholique de Lille.

Florent Cespedes is a Senior Analyst covering European Biopharmaceuticals at Bernstein. Florent joined SG in 2015, and has more than 20 years of experience in the Pharmaceuticals sector. Prior to SG, Florent spent eight years as a sell-side analyst at Exane BNP Paribas covering the European Pharma sector (large caps & biotechs). Previously, he spent three years at Natexis Bleichroeder as a sell-side analyst, heading the European Pharma team, and three years at Fortis Securities. His professional experience also includes three years in the M&A universe at Banexi and Rothschild & Cie. In 2014, Thomson Extel ranked Florent No. 7 in his sector, and in 2017 Thomson Extel ranked SG's Pharma team 10th. Florent holds a Doctor of Pharmacy (PharmD) from the Pharmaceutical University of Montpellier, with a specialisation in the pharmaceutical industry, and an MA in Finance from the Graduate School of Management of Paris (ESCP).

Gautam Chhugani is the Senior Analyst at Bernstein covering Global Digital Assets. Gautam joined Bernstein in 2015, and previously covered the India Financials sector. He began researching crypto in 2017, building deep relationships with leading crypto founders and thought leaders globally, and developing a sophisticated understanding of the various ecosystems. Prior to joining Bernstein, Gautam spent five years in private equity and venture capital at CDC Group and Matrix Partners, leading investments in fintech and payments. Gautam also spent four years at McKinsey, covering financial services, fintech and payments, after starting his career in auditing and investment banking. Gautam holds a BA from Narsee Monjee College of Commerce and Economics, India, and a post graduate degree in Management from the Indian School of Business; he is a Chartered Accountant.

Guillaume Delaby is a Senior Analyst covering European Oil Services at Bernstein. Guillaume became a Senior Analyst covering Energy Services at SG in 2008, having previously covering small cap stocks. In its most recent survey, Institutional Investor recognized Guillaum the No. 2-ranked analyst in his sector leading the No. 4-ranked team. He was also previously No. 2 in the Thomson Extel Survey in 2018, with his team ranking No.3. Earlier in his career, Guillaume worked at Bryan Garnier as a media analyst, at Banque Paribas in equity sales, and at Barclays de Zoete Wedd (BZW) – first as an economist and later in equity sales. Guillaume holds a degree from Sciences Po Paris, and the Société Francaise des Analystes Financiers (SFAF), and he has been a lecturer in finance at Sciences Po Paris, Essec and HEC.

Harry Martin is a Research Analyst at Bernstein covering European Automotive & Components with a focus on Parts & Suppliers. Harry previously was the lead analyst on EU Business Services, building the sector up to cover 10 stocks from April 2023. Previously Harry was Senior Research Associate on the Global Catering and Global Hotels & Leisure team responsible for establishing and expanding that coverage since 2017. Harry joined Bernstein in 2016 after earning his BA (Hons) in Economics from St. John’s College, University of Cambridge. Harry is also a CFA charterholder; and holds a Level 2 accreditation of SASB’s FSA sustainability credential (highest level).

Jorge Alonso is a Senior Analyst covering European Utilities & Clean Energy at Bernstein. Prior to joining SG in 2011, Jorge was the head of Utilities at BBVA for four years, covering Iberian companies. Previously, he was an energy analyst at Chevreux, La Caixa and AB Asesores. Extel ranked the Utilities team was 7th and 10th in its 2015 and 2016 polls, respectively. In 2010, Jorge was the No.1-ranked Spanish Utilities analyst by Starmine. Jorge holds a BA in Business Administration from Universidad Autonoma de Madrid (UAM), and speaks fluent English and Italian.

Justin Smith is a Senior Analyst covering European Biopharmaceuticals at Bernstein. Justin has 25 years of equity research experience covering the Global Pharmaceuticals and Medical Technology sectors. Prior to joining Soc Gen in 2012, Justin worked as a sell-side analyst at Oriel Securities, MF Global, Deutsche Bank, JPMorgan and Citigroup. Justin started his City career in Corporate Finance at Merrill Lynch in London in 1997. He holds both an MA in Natural Sciences and a Postgraduate Diploma in Management Studies, both from Emmanuel College, Cambridge University.

Lance Wilkes is the Senior Analyst at Bernstein covering US Healthcare Services. Lance joined Bernstein in June 2015 from Cigna, where he spent eight years leading business development activity, including strategic investments and partnerships, new business launches, and venture capital investing. His responsibilities included leading Cigna’s PBM strategic transaction and founding Cigna Ventures, a corporate venture capital fund. Prior to Cigna, he founded Columbia Street Advisors, a strategy consulting firm focused on business development and strategy consulting to leading health care services companies. Lance also served as President of Opticare Health, a specialty healthcare company, and held executive roles at Aetna including leading mergers and acquisitions. Lance holds a Master’s degree in Economics & Corporate Finance from Trinity College and a BA in Economics from Brown University. Institutional Investor first ranked Lance's coverage in 2017, naming him Runner-Up in Health Care Facilities & Managed Care in 2019; in 2024 Lance was recognized as part of Bernstein's Healthcare Facilities and Managed Care coverage, a Runner-Up on Extel's All-America Research Team.

Luca Solca is a Senior Analyst at Bernstein covering Global Luxury Goods. Luca re-joined Bernstein in 2019 from Exane, where he followed the European Luxury Goods sector for six years. Prior to Exane, Luca was the Director of Research at Credit Agricole Cheuvreux. Luca’s first tenure at Bernstein was as a Senior Analyst covering the European Luxury Goods and General Retail sectors from 2005 to 2011. Earlier in his career, Luca served as the Executive Vice Chairman of a publicly traded, medium-sized fashion and luxury Italian conglomerate. Luca was also a partner at the Boston Consulting Group focusing on the retail and consumer goods sectors, and a consultant at Booz Allen & Hamilton. Luca holds a BSc magna cum laude in Applied Psychology from the Università di Padova and an MBA magna cum laude from the SDA Bocconi in Milan. Luca's research has been consistently recognized by industry organizations and surveys including Extel and Institutional Investor, both in his first stint at Bernstein, in which he was top-ranked in both European Luxury Goods and General Retail, and at Exane, where he was No. 1-ranked in his sector for five years. In its 2024 survey, Extel ranked Luca as Runner Up in the European Luxury Goods sector.

Marios Pastou is a Senior Analyst covering Property and Real Estate at Bernstein. Prior to joining SG's Real Estate research team in 2020, Marios covered the sector for five years at Credit Suisse where he was lead analyst across both the German residential and European industrial/logistics sub-sectors. Before Credit Suisse, Marios worked at KPMG across various market sectors including Private Equity, Management Consulting and Financial Modelling. Earlier in his career, Marios worked as a Cost Manager for a construction consultancy firm. Marios holds a BSc (first-class honours) in Quantity Surveying from the University of Reading, and is a Chartered Accountant (ACA).

Mark Moerdler is a Senior Analyst at Bernstein covering Global Software. Prior to joining Bernstein in 2010, Mark was Vice President of Strategy for Mergers and Acquisitions at CA Technologies. He joined CA in June 2006 as Vice President of Business Unit Strategy, when the company he cofounded, MDY Advanced Technologies, was acquired by CA. At the time, MDY was the leader in Records Management software, according to both Gartner and Forrester Research. Mark received two Master's degrees and a PhD in Computer Science from Columbia University. Mark has been named to Institutional Investor's All-America Research Team since 2013, including in 2018, when he was the No. 1-ranked analyst in the Software sector.

Mark Shmulik is the Senior Analyst at Bernstein covering US Internet. Mark joined Bernstein in 2018 with nearly a decade and a half of experience across the TMT sector with a strong focus on digital business models and disruption, most recently as an Associate Partner in McKinsey’s Digital Practice serving media, software, telecom, and investor clients in New York, London and Chicago, where he helped clients build and grow digital businesses. Prior to McKinsey, Mark was an advisor with Arts Alliance Ventures focused on digital media, and an associate at Altman Vilandrie & Co., a boutique consulting firm specializing in the TMT sector. Mark began his career at TELUS Mobility, a Canadian mobile operator. Mark holds a BA from the Richard Ivey School of Business at the University of Western Ontario, where he was an Academic All-Canadian (varsity swimming) and an MBA from London Business School. In 2024 Extel recognized Mark as the No. 3-ranked Internet Analyst on its All-America Research Team.

Michael Parker is Head of APAC and EMEA Research at Bernstein, based in London. From 2018 to 2022, Michael was the Director of Asia Research in Hong Kong, and served as the firm’s Asia Strategist between 2014 and 2018. Michael joined Bernstein as Senior Analyst covering the Asia Coal, Power, and Renewables sectors, moving to Hong Kong in 2010 with the launch of the Asia business. Earlier in his career, Michael worked for renewable energy company First Solar in New York and for PricewaterhouseCoopers in New Zealand and San Francisco. Michael holds an MBA from New York University and a law degree and Bachelor of Commerce from the University of Otago, New Zealand. He is a barrister and solicitor of the High Court of New Zealand.

Neil Beveridge is the Director of Research for Asia-Pacific Ex India and Senior Analyst covering Global Energy Storage, Oil & Gas and Gas Utilities at Bernstein. Before joining Bernstein in 2008, Neil worked for BP for 11 years in a number of technical, commercial, and finance roles in the United Kingdom, the North Sea, China, Russia, and the Middle East where he was Head of Finance for BP Middle East. During his career with BP, Neil worked within the Exploration and Production, and Gas and Power business segments in the development and operation of major international oil and gas projects. Prior to BP, Neil worked for BG Group for two years within its Exploration and Production division. Neil has an honours degree in Geology from the University of Edinburgh and a PhD from the University of Cambridge. While at university, he published a number of research articles in leading scientific journals, including Nature. Neil also holds an MBA from Edinburgh Business School.

Nick Green is a Senior Analyst at Bernstein covering European Capital Goods. Nick joined Bernstein in 2013, and has spent 20 years immersed in the world of capital goods and equipment, primarily through a career in Oil & Gas. Early in his career, Nick held a variety of commercial roles at BP International, including senior field analyst in Azerbaijan, commercial advisor in the North Sea and supply chain analyst. After BP, Nick focused on M&A strategy, corporate strategy and commercial due diligence for private equity clients. Since joining Bernstein, Nick led Bernstein’s Oil Services coverage, first in Europe and then globally. Nick earned an MA in History from Oxford University and is a Chartered Management Accountant. For his Oil Services coverage, Nick was recognized by Institutional Investor as the No. 1-ranked analyst in the sector from 2017-2019; he was also Extel’s No. 1-ranked Oil Services analyst in 2018 and 2019.

Nikhil Devnani is the Senior Analyst at Bernstein covering US Emerging Internet, a variety of marketplaces across eCommerce, food delivery, ridesharing, and housing. Nikhil joined Bernstein in 2016 as a Research Associate on US Large-Cap Banks and contributed to the team’s No. 1 ranking by Institutional Investor in 2017 and 2018. Nikhil later became a Senior Research Associate on the US Internet team, where he helped initiate coverage on the digital advertising space and Amazon in 2020. Nikhil holds a BSc in Economics from the Wharton School of the University of Pennsylvania and is a CFA charterholder. In its 2024 survey, Extel named Nikhil as the No. 3-ranked analyst covering Internet Small & Midcap on its All-America Research Team.

Nikhil Nigania is the Senior Analyst at Bernstein covering India Industrials and Infrastructure. Nikhil joined Bernstein in 2021 from Boston Consulting Group, where he was a Principal in the Delhi office advising client CxOs and senior government executives in the Industrial Goods and Energy practice, focusing on clean energy, power sector policy, and large-scale infrastructure in India. Prior to BCG, Nikhil was a Consultant at Auctus Advisors, where he helped set up the energy practice and assisted in transactions in the airports sector in Philippines and Turkey. Nikhil holds an MBA from XLRI and a BTech in Electrical Engineering from IIT Bombay.

Nuno Vaz is a Senior Research Associate on the European Telecommunication Services team at Bernstein. Prior to joining SG in 2020, Nuno worked as an Equity Research Analyst covering the Energy and Oil and Gas sectors at Banco Investimento Global in Portugal. Nuno holds an MSc in Finance from Católica-Lisbon School of Business and Economics; while earning his degree, he interned with an equity derivatives trading team at BNP Paribas.

Ottavio Adorisio is a Senior Analyst covering European Telecom Services at Bernstein. Ottavio has 25 years of sell-side research experience, having joined SG in 2007, and working earlier in his career as a Director at UBS from 2003-2007, and a VP at CSFB from 1999-2003. Ottavio holds an MA in Finance from the London Business School and a degree in Monetary and Financial Economics from Bocconi University in Milan. In 2019 and 2020, Ottavio was ranked 1st in the Refinitiv StarMine Analyst Awards for stock picking in his sector. In its most recent polls, Institutional Investor ranked Ottavio's coverage of European Telecom Services 10th (2022) and 11th (2023).

Peter Clark is the Senior Analyst covering European Chemicals at Bernstein. Prior to joining SG in 2007, he worked at Standard & Poor's, heading up coverage of the European Materials and Industrials sectors, including chemicals. Earlier in his career, Peter worked at UBS in London for over seven years where he headed the European Chemicals team, and at Goldman Sachs (London) again for over seven years, where he was in charge of coverage of UK Chemicals. Peter holds an MBA from the University of Nottingham.

Peter Weed is the Senior Analyst at Bernstein covering US SMID-Cap Software and US Emerging Technology. Prior to joining Bernstein in 2021, Peter was a Partner at OpenView Venture Partners, a growthoriented private equity and venture capital firm focused on expansion-stage software companies. Peter had previously been a Partner with Lumia Capital, a consumer internet and SaaS-focused growth-stage VC firm. Before working in VC / PE, Peter was a Partner at McKinsey & Co. During his nearly 12 years at McKinsey he was the co-Founder and Global Co-Head of the Fast Growth Tech Practice (now branded “Fuel”), and was a leader in the TMT practice, where he led growth-oriented engagements for top global software, internet, cable, enterprise hardware, and device OEM clients. Peter began his career at Microsoft as a Product Manager in the Enterprise Server Division. Peter holds an AB in Economics from Harvard and an MBA with Highest Distinction from the Tuck School of Business at Dartmouth. In 2024, Peter was named Runner-Up on Extel's All-America Research Team.

Philippe Lorrain is a Senior Analyst covering Small & Mid Cap Equities at Bernstein. Prior to joining SG in 2023, Philippe spent eight years at Berenberg in London covering European Capital Goods, with a focus on SMID-Cap names based in Germany. Earlier in his career, he was a Research Analyst covering German automotive suppliers at Hauck & Aufhäuser, and worked in Sales at MM Warburg & Co, both in Germany. Before his career in finance, Philippe was an officer in the French navy for nearly seven years. Philippe holds an MA in Finance from Ecole Superieure de Commerce de Toulouse.

Richard Clarke is a Senior Analyst at Bernstein covering Global Hotels and OTAs since 2016. In Extel’s 2024 survey, Richard was part of the top-3 ranked teams in US Large Cap and SMID Cap Internet, and was named as a Runner-up in the European Leisure, Entertainment & Hotels sector, and top-10 in the US Gaming & Lodging sector. Richard joined Bernstein in 2013 as a Senior Research Associate on the European Food Retail team, which was top ranked by Institutional Investor in 2017. Prior to Bernstein, Richard spent six years as a forensic accountant at CRA International, and three years working in structured finance at Société Générale and Taurus Asset Finance, a specialist film and media finance company. Richard earned an MA in Maths from Trinity College, Cambridge, and is a Fellow of the Institute of Chartered Accountants in England & Wales.

Stacy Rasgon is the Senior Analyst at Bernstein covering US Semiconductors. Prior to joining Bernstein in April 2008, Stacy worked as a management consultant at McKinsey & Company, where he advised clients across the semiconductor value chain (and on three continents) in matters of strategy, operations, and M&A. He also spent time at IBM's TJ Watson Research Center, where he examined line edge roughness formation mechanisms during plasma etching of semiconductor devices. Stacy holds a PhD in Chemical Engineering from the Massachusetts Institute of Technology, as well as a Certificate in Financial Technology from the MIT Sloan School of Management. He earned a BS summa cum laude in Chemical Engineering from the University of California, Los Angeles. Stacy has been recognized as a top analyst in his sector by Institutional Investor every year since 2010, including numerous appearances as the No. 1 analyst in US Semiconductors; in its 2024 survey, Extel ranked him No. 3 on its All-America Research Team.

Stephen Reitman is the Senior Analyst covering European Automobiles & Components at Bernstein. Stephen joined SG in 2010 and has spent 38 years covering the European automotive sector, including 10 years with UBS and 11 years with Merrill Lynch, where he ran the European and global coverage teams. Over his career, Stephen has been regularly recognized by Institutional Investor as a top-ranked analyst in his sector and was a Fortune European All-Star Analyst. In its 2024 survey, Extel recognized Bernstein's European Autos team as Runner-Up. Stephen holds a degree in International Studies and Languages from the University of Manchester and an MBA from Manchester Business School.

Steve joined SG in April 2020 as a junior analyst on the European Automotive team. Prior to that, he spent a year and a half at a UK asset manager, where he covered UK Media stocks while passing the Level 1 & 2 exams of the CFA program. Steve graduated in 2017 from the University of Birmingham with a Bachelor’s Degree in Business Management.

Trevor Stirling is the Senior Analyst at Bernstein covering European Beverages. Before joining Bernstein in 2004, Trevor had a wide variety of roles in beverages and consumer goods. He started his working life with Procter & Gamble. After an MBA, he worked for McKinsey in London for seven years, where he focused on the consumer sector in general and beverages in particular. Then came five years at Guinness/Diageo Ireland, first as Strategy Director and then as Sales Director for retail and wholesale. After this, he ran his own wine business in Dublin as a private-client wine merchant. Trevor holds an MBA with Distinction from INSEAD and an MEng and MA from Cambridge University. He also holds a Diploma in Wine from the WSET, the pre-cursor qualification to Master of Wine. In 2024 Trevor was named to the Extel Hall of Fame for holding a No. 1 ranking in his sector in the Institutional Investor annual survey for over ten years.

Ulrich Rathe is the Senior Analyst covering European Telecom Services at Bernstein. Ulrich joined SG in 2022, with over 20 years of experience covering European TMT stocks. Prior to SG, Ulrich worked for 12 years at Jeffries, where his team earned a No. 8 position in the 2021 Institutional Investor survey. His other sell-side roles include a year SG, three years at Dresdner Kleinwort, and over six years at UBS. Earlier in his career, Ulrich was a management consultant at the Boston Consulting Group. Ulrich holds an MBA from INSEAD, a PhD in Theoretical Physics from the University of Munich, and is a CFA charterholder.

Victor Acitores is the Senior Analyst and Head of European Building, Construction, and Infrastructure-Airports research at Bernstein. Prior to joining SG in 2010, Victor spent nine years in Equity Analyst roles at Kepler Capital Markets and Venture Finanzas; earlier in his career, he worked in the construction and telecoms industries. Victor has been recognized as a top analyst in his sector by Extel and other annual survey; in 2024, he was named Extel's Runner-Up for Infrastructure, and the No. 10-ranked analyst for the Building and Construction sector. Victor holds a double degree in Economics and Law from ICADE university (E-3) in Madrid.

Virgile Haddad is a Senior Analyst covering ESG at Bernstein. Virgile joined SG's Cross Asset Research team covering Sustainability in 2018, after previously working for SG for 11 years as an equity salesperson covering accounts in Belgium, Luxembourg and France. Earlier in his career, Virgile worked as a financial controller in the pharmaceutical industry. Virgile holds a degree from Reims Business School and is a CFA charterholder.

Will Kirkness is a Senior Analyst at Bernstein covering European Business & Employment Services. Will joined SG in 2022 with over 13 years of experience covering his sector at both Jefferies and RBS. Will started his career at PwC. In its 2021 survey, Institutional Investor named Will Runner Up in Business Services, helping his team achieve top-ten positioning. Will earned a BSc in Management from King's College London, and is a qualified Chartered Accountant.

Will Pickering is the Senior Analyst at Bernstein covering US SMID-Cap Biotech. Prior to joining Bernstein in 2022, Will was most recently a Partner at Boston Consulting Group, where he advised leading Biopharma clients in the US and Japan on M&A, portfolio strategy, sales and marketing, medical affairs, and market access/reimbursement. Will also has significant experience in Biopharma collaborations with diagnostics and digital health companies. Will earned an AB in mathematics from Princeton University, and an MD from the Perelman School of Medicine at the University of Pennsylvania. At Penn, Will conducted research in cardiovascular imaging, and his findings have been presented at multiple scientific conferences.

William Woods is the Senior Analyst at Bernstein covering EU Food Retail. William joined Bernstein in 2020 from Javelin Group, a specialist retail and consumer strategy consultancy, where he was a Strategy Manager, leading strategic projects for some of the world’s largest retailers and brands across the grocery, FMCG, fashion and luxury sectors. His work ranged from developing corporate and digital strategies to zero-based cost reduction and due diligence for private equity clients. Prior to Javelin Group, William worked for STL Partners, a TMT specialist consulting firm. William holds a BA in European Social and Political Studies from University College London. In its 2024 survey, Extel named William a Runner-Up for the Food Retailing sector on its All-Europe Research Team.

Yannick Ouaknine is a Senior Analyst covering ESG at Bernstein. Yannick joined SG in March 2007 and has a deep understanding of investor needs in Sustainability research, having worked for more than 15 years in the field, with global coverage and responsibility (including exercising voting rights). He advises the broad financial community (asset owners, asset managers, hedge funds, corporates and academics) on the integration of sustainability criteria into financial analysis or reporting, and is a regular speaker at international events. Prior to working at SG, Yannick was Product Manager / RFP Analyst at BNP Paribas Asset Management (2000-2002) and Senior ESG analyst at BNP Paribas Investment Partners (2003-2007) in France. During this period, he worked with equity/credit analysts across all sectors to enhance traditional financial modelling by highlighting the impact of environmental, corporate governance and social issues on business performance and/or valuations. Yannick holds BA (Hons) and MA degrees in Business Administration from the École Supérieure de Gestion de Paris (ESG), and an executive training certificate in Corporate Finance from INSEAD.