July 19, 2016

VRP Brings on New Partner to Add Aerospace and Defense Coverage

Source: Integrity Research Associates
By: 

Earlier this week, Stamford, CT based independent research firm, Vertical Research Partners (VRP) announced that it had brought on Robert Stallard as partner to cover a new sector for the firm — Global Aerospace and Defense.

New VRP Hire

VRP’s new hire, Robert Stallard, is no newcomer to covering the Aerospace and Defense industry.  He has covered the Aerospace and Defense industry for over 18 years and has been ranked numerous times in the annual Institutional Investor and Greenwich polls, including most recently #3 in the 2015 U.S. II survey.

Prior to being hired by VRP, Robert Stallard spent six years with RBC Capital Markets as Managing Director covering the Global Aerospace and Defense sector and Head of Industrial Research.  Previously, Stallard spent two years at Macquarie Securities in New York, seven years at Bank of America in London as an analyst covering the sector, and three years at JP Morgan.

Rob began his professional career in accounting as an auditor at Ernst & Young in London and qualified as a Chartered Accountant (CPA equivalent).  He graduated with honors from Durham University in the UK.

Mr. Stallard is planning to re-launch his coverage at VRP in the Fall.

Our Take

Founded in 2010 by Jeff Sprague, Vertical Research Partners is an independent research firms that now employs 12 analysts covering over 100 stocks across eight industrial sectors including Electrical Equipment & Multi-Industry, Machinery, Paper & Packaging, Flow Control/ Engineering & Construction, Building Materials, Agricultural & Chemicals, Commodity and Specialty Chemicals, and now the Aerospace & Defense sectors.

The addition of Robert Stallard is VRP’s second analyst addition this year (the firm brought on Keven McCarthy in May to cover Commodity and Specialty Chemicals).  These two new hires are consistent with VRP’s approach of expanding coverage by bringing on experienced and highly respected names in the research industry.

Despite the struggles seen across much of the sell-side and independent research industry the past couple of years, focused boutiques featuring experienced and knowledgeable analysts like VRP, Telsey, Zelman, or Wolfe Research have fared somewhat better.  Even though business conditions for most research firms have not been great, some research firms looking to build their franchises might see this to be a perfect environment to cherry pick high quality talent.