Sydney June 28 2017: For the second consecutive year, APP Securities won the “Best Research House of the Year” award by the Australian Stockbrokers Foundation. This accolade comes as APP Securities expands its broking team with two new appointments and establishes a specialised Asia Desk.
Russell Wright, APP Securities General Manager of Research said, “I could not be prouder of my team. In comparison with many of our competitors, we are a small group of analysts. These consecutive awards for best research house are recognition of APP Securities market relevance, insight, independence and timeliness to our institutional and retail clients.”
The award is based on recommendations on ten best and worst stock performances during the year. For APP Securities, the two stand-out underperform recommendations were on Aconex (ASX:ACX) and Blackmores (ASX:BKL). “But best of all we put a buy on Covermore (ASX: CVO) in mid November when the shares were trading at $1.33, with a target price of $1.95 – in December it received a bid from Zurich at $1.95 share,” added Russell Wright.
Sangeeta Venkatesan, CEO of APP Securities said, “The consecutive best research awards are a powerful endorsement of the quality and integrity of our research team, and the new appointments will significantly boost our market coverage, connectivity and services. We will continue to build our differentiated and client focused range of services and market presence, as the establishment of our specialised Asia desk this quarter testifies,” Sangeeta Venkatesan added.
APP Securities has bolstered its team with the hires of two experienced advisers this month. Colin Silver brings extensive expertise in index arbitrage trading with over 20 years of experience gained at firms including Investec, Deutsche Bank, Merrill Lynch and Tibra. Jitendra Marchino joins APP Securities with a strong track record of trading in Asian markets, particularly India. Jitendra has 14 years of institutional sales and business development experience across equity and derivatives, of which ten years were with J.P. Morgan.
The APP Securities new Asia Desk includes experienced Sydney advisers Jack Liang, who previously worked with ANZ E*Trade, Macquarie Bank and CMC Markets; and Gordon Yan, who joined from J.P. Morgan Australia where he was in the funds analytic services for six years.