The One-Stop Shop for Macro.
Investment Strategy
Economics
Policy Research
Equity Sector Strategy
Fixed Income Strategy
Technical Analysis
Industry Surveys
Bespoke Research
Corporate Services
Institutional Sales & Trading
Commission Management
New York
52 Vanderbilt Avenue
8th Floor
New York, NY 10017
United States
(212) 906-0130
(212) 906-0131 fax
Washington, D.C.
910 17th Street, NW
Suite 312
Washington, D.C. 20006
United States
(202) 223-7644
(202) 223-7647 fax
Columbus, OH
85 E. Broad Street
Suite 1180
Columbus, OH 43125
United States
(614) 221-6680
(614) 221-6268 fax
©2014 Strategas Research Partners - Registered Broker-Dealer - Member FINRA/SIPC
Strategas Research Partners is a leading institutional brokerage firm focused on providing macro research,
advisory, and capital market services to institutional debt and equity investors and corporate executives around
the world.
Founded in 2006 by Jason DeSena Trennert, Nicholas Bohnsack and Don Rissmiller, Strategas is an independent, private
partnership committed to providing superior services in the old Wall Street tradition. Its motto bonitas, probitas,
fides – class, integrity, faith – guides both the management of the Firm and its commitment to its clients.
The Firm employs 50 research analysts, institutional salespeople, and sales traders at its offices in New York,
Washington D.C., and Columbus, Ohio. Strategas is fortunate to count among its clients some of the world’s largest
mutual funds, investment advisors, hedge funds, pensions and endowments.
OUR RESEARCH PRODUCTS AND ANALYSTS
Investment & Sector Strategy
Nicholas Bohnsack
Operating Partner
Equity Sector Strategist
Jason Desena Trennert
Managing Partner
Chief Investment Strategist
The Firm’s Investment & Equity Sector Strategy team, led by Jason DeSena Trennert and Nicholas Bohnsack, works to identify major themes
with broad implications for the global financial markets.
As the Firm’s Chief Investment Strategist, Mr. Trennert has been ranked consistently by Institutional Investor magazine as one
of the top Strategists on Wall Street and has been named to SmartMoney magazine’s Power 30 list of the most influential people in the
world of investing. He has earned a reputation as a keen market observer and for his regular, and often humorous, essays on investing.
Mr. Bohnsack directs the Firm’s sector and equity estimate research efforts. He has been voted among the Best Up & Comers for Portfolio
Strategy in the Institutional Investor All-American Research survey.
Economics &
International Economics
Mary Catherine Sinclair
Director
International Economics
Donald Rissmiller
Partner
Chief Economist
The Firm’s Economics team, led by Don Rissmiller, Chief Economist, employs an analytical approach to provide a consistent macro-economic
framework for our institutional clients. Mr. Rissmiller oversees Strategas’ high-frequency econometric forecasting and thematic economic
research. Mr. Rissmiller has directed the firm’s efforts since 2006, has been recognized by Institutional Investor in their annual survey,
and is frequently quoted in the financial press.
The Firm’s international economics research effort, led by Mary Catherine Sinclair, works to expand coverage of the macro
economy to include non-U.S. economies. Ms. Sinclair writes on macro-economic trends in both developed and developing economies,
employing economic modeling to identify the underlying forces to watch.
Policy Research
Dan Clifton
Partner
Head of Policy Research
The Firm’s Institutional Investor-ranked Policy Research team, led by Daniel Clifton, works to identify federal, state, and local policy
initiatives that have direct investment implications. Based in Washington, D.C., the team navigates the legislative, executive, and regulatory
landscapes to offer the Firm’s clients forward-looking information, relevant to their portfolio holdings.
Mr. Clifton oversees the Firm’s legislative and public policy research efforts. Mr. Clifton’s research and political analysis on the interaction
between legislation, policy and capital markets have been widely cited in the media.
Institutional Sales
Robert Belinky
Managing Director
Head of Sales for Europe & The Middle East
Larry Castellani
Managing Director
Co-Head of Institutional Sales
Aaron Long
Managing Director
Co-Head of Institutional Sales
Based in New York, our 25 person sales team cover institutional equity and fixed income accounts in over twenty countries on five continents,
affording our clients the unique perspective provided by marrying global insights with the Firm’s concentrated macro research focus.
Our sales team facilitates client meetings, conference calls, idea luncheons, research dinners, and bespoke requests of Strategas’ research
team and hosts our multi-city guest speaker series. In addition, the Firm hosts two conferences each year: our Policy Issues Conference,
held each winter and, our Macro Issues Conference held each spring. Both offer our clients additional insights on topical issues facing
financial markets.
Institutional Equity & Fixed Income Trading
Tim Hughes
Managing Director
Institutional Equity Trading
John Ghize
Jim Duffy
Managing Director
Managing Director
Head of Institutional Equity Trading Head of Fixed Income Trading
The Firm’s equity sales traders, headed by John Ghize, focus on building strong, high-touch relationships to maximize execution strategies
by offering clients an anonymous, agency execution platform in equities on U.S. and Canadian markets across a variety of venues.
Strategas’ commission management platform reduces operational and counterparty risk and facilitates a more efficient payment for
buy-side managers to pay research providers and vendors, while fulfilling best execution requirements using our equity trading desk’s execution capabilities.
Our commission management program’s web-based system interface allows customers to monitor trade detail, research allocations and
trade reconciliations. Clients can view statements, including cumulative unbundled trade detail, research balances, research payments
by provider and year-to-date payment summaries. Customers can track, monitor and calculate research credit accruals and payments
on behalf of clients on both a real-time and historical basis.
The Firm’s fixed income desk, led by Jim Duffy, compliments our macro research capability by integrating tactical credit strategies and
execution, providing our clients with a platform that allows them to express their investment decisions conveniently and efficiently.
The team has over 50 years experience trading treasury and agency securities and is suitably equipped to execute investment grade
corporate securities.
Corporate Services
John Schoger
Managing Director
Head of Corporate Services
Strategas’ Corporate Services team, led by John Schoger, seeks to leverage the Firm’s capital markets acumen, and buy-side relationships
into a comprehensive program to meet the needs of both corporate management and institutional investors.
• Corporate Access - Deep relationships with its clients and counterparties allows Strategas to bring corporate management and
institutional investors together in a transparent, conflict-free manner. This can be facilitated through hosted events, by request,
and at our conferences.
• Research Access - Our team can provide companies, their executive teams, and their boards of directors access to our suite of macrofocused research verticals through one-on-one consultations.
• Capital Market Access - Strategas’ independence puts it in a unique position to serve corporations with a diverse set of needs. The Firm
can help clients access equity and debt capital markets by raising capital, facilitating share repurchases, distributions and syndicates.
• Corporate Advisory & Consulting - Strategas brings together decades of experience and the full breadth of its global reach to
provide corporate executives with bespoke projects, presentations at management off sites and board meetings, executive preparation
and fairness opinions.
Technical Analysis
Christopher Verrone, CMT
Managing Director
Head of Technical Analysis
Led by Chris Verrone, the Firm’s technical analysis team works to identify developing trends among various asset classes with an emphasis
on providing actionable investment conclusions and a thoughtful yet concise short-term market outlook.
Mr. Verrone’s regularly-published research highlights trend recognition, momentum, sentiment, supply-demand, and intermarket analysis.
He frequently publishes his work on both long and short equity as well. Mr. Verrone has earned the Chartered Market Technician (CMT)
designation and is a member of the Market Technicians Association.
Industry Surveys
Norbert Ore
Director
Head of Industry Surveys
Led by one of the country’s leading experts in the field of supply management, Norbert Ore, Strategas’ Leading Indicator
of Manufacturing (SLIM), allows the Firm and its clients to garner unique insights into new orders and supplier delivery times
in industries that account for a good amount of the volatility in the economy.
Fixed Income Strategy
Tom Tzitzouris
Director
Fixed Income Strategist
Led by Tom Tzitzouris, the strategic fixed income research team seeks to identify relative value and investment risks across
multiple fixed income asset classes and highlight valuations at both the macro and sector level.
Mr. Tzitzouris directs the Firm’s fixed income research efforts. His work touches on all aspects of broad market fixed income
strategy, as well as clients’ asset/liability management needs. His focus includes interest rate and credit term structure
strategies, callable bond analysis, sector relative value research, and sector valuation analysis for Treasury, Agency, and high
grade corporates.
Bespoke Research
The Firm’s Bespoke Research team works closely with clients on customized and ad hoc projects across all of the Firm’s
research verticals.
Our team strives to return special requests and customized projects to clients quickly and accurately. The team also fulfills
any requests for the charts and data published in our daily written reports. Our Bespoke Research team possesses both the
wide range of resources and the strong commitment to quality and service needed to add significant value throughout all
stages of the investment process.
What is a Strategas?
Of all the frequently asked questions we get on the road, the one we’ve received the most since
we started the Firm has to do with the derivation of our company name and logo. Most people
are kind in their questioning, but more than a few have been less than shy in their bewilderment.
A master of nuance, Joe Kernen of CNBC said on the air, “Jason, you’ve been dreaming of starting
your own company your whole life and this is what you came up with?” Similarly, a friend and
paying client in Texas asked bluntly, “what the $%*& is a strategas?”
And so we’d like to explain once and for all how we came up with our rather unique name.
Few now know that the word ‘strategy’ is derived from the Greek word ‘strategos’ which means
‘general.’ In Athenian Democracy, the strategoi stood between the elected officials and its
military leaders to provide counsel in balancing the needs of protecting individual liberties while,
at the same time, providing for the overall security of the state. Satisfied that we had found a
name that had real meaning and the requisite pretension of antiquity, we had decided, perhaps
naively that ‘Strategos’ was as good as we were going to get.
In the 11th hour, however, our lawyers informed us that to name the firm ‘Strategos’ could invite
trademark litigation. Having invested some time in the decision and becoming attached to the
logo of the warrior we now affectionately call ‘Gus’, we asked our lawyers to find a vowel that
would complete the word ‘strateg_s’ without inviting legal action. They came up with ‘strategas’
which, at that point was close enough for us and was aesthetically pleasing when using Greek
lettering.
There is a certain irony and sadness in the fact that, in the post-industrial and litigious society
in which we live, we essentially had to choose a name that was so devoid of meaning to actually
steer clear of a lawsuit. In any event, the name has been a source of amusement among our
clients and friends. And, as the saying goes, “we don’t care what you call us, as long as you call us.”