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Mark Gray

Managing Director - US/Americas Corporate Finance

US and Americas

Tom Marshella
Managing Director - US/Americas Corporate Finance

Paloma San Valentin
Managing Director - US/Americas Corporate Finance


Myriam Durand
Managing Director- EMEA Corporate Finance

Philipp Lotter
Managing Director- EMEA Corporate Finance

Asia Pacific

Brian Cahill
Managing Director - Asia Pacific Corporates/Financial Institutions​​​​


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Research and analysis on public companies and their debt instruments.



  • 28 Sep 2016
    • Looming oversupply concerns likely to crimp European paper firms’ earnings growth in 2017
      Recent rapid earnings growth in the European paper and forest products sector will slow in 2017 as rising pulp & packaging supply and oversupply in the graphic paper segment increase market volatility. Despite the slowdown, most firms’ credit profiles will remain resilient in the short term on the back of robust liquidity and long-dated debt maturity profiles. Earnings jumped a record 15.7% in H1 2016 as restructuring, cost-cutting and price increases boosted profitability, indicating another record year in 2016... Full Report
  • 26 Sep 2016
    • Outlook for refining and marketing industry in North America, EMEA remains negative as demand continues to lag supply
      The amount of gasoline produced in 2015 through mid-2016 on the back of low oil prices has helped outpace demand for gasoline and distillates in every major economy, and the earnings of North American and European refiners will decline through next year as a result. Fuel inventories will remain above historical averages, further constraining margins... Press Release l Full Report
  • 22 Sep 2016
    • Regulatory, political event risks remain for US drug companies; geographic and product diversity to help mitigate effects
      The US healthcare industry will remain subject to political and regulatory risks, given the government's substantial role in funding costs. And given ongoing scrutiny of drug prices, pharmaceutical companies are particularly exposed. Efforts to curb the price of drugs could include federal legislation, state legislation and reimbursement changes... Press Release l Full Report
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