preparing for the circus........
Independent Research Group Builds Equity Research Team
Thursday March 13, 9:56 am ET
NEW YORK--(BUSINESS WIRE)--March 13, 2003--Independent Research Group LLC (IRG), a wholly-owned subsidiary of TheStreet.com (Nasdaq:TSCM - News), today announced its first hires of research analysts to cover small to mid cap stocks in the communications, technology, consumer & retail and biotech sectors.
All positions are effective immediately and will report directly to Paul W. Noglows, 39, IRG director of research. Noglows expects to make additional hires in coverage areas including financial services and media in the coming weeks. IRG was recently established to better serve Wall Street's need for more independent, insightful stock analysis.
Noglows said he believes these hires will put IRG in a position to publish the first wave of research in April.
"Unfortunately, too much sell-side research has nothing to do with serving the needs of buy-side portfolio managers," said Noglows. "IRG, on the other hand, is adopting a buy-side mindset -- broad coverage sectors; actionable ideas instead of 'maintenance' research; and a focus on uncovered or under-covered stocks. And of course, no investment banking, no underwriting - nothing that would divide our loyalty to producing research that benefits our clients. This is the foundation of a highly experienced team, strategically positioned to offer our clients compelling investing ideas and singularly focused on creating better equity research."
The team includes:
Glen H. Frey, 33, IRG senior analyst, technology, was a portfolio manager at Morgan Stanley, responsible for managing the Morgan Stanley Information Fund with more than $4 billion in assets. While at Morgan Stanley, he also served as a senior equity analyst, responsible for analyzing technology investments, including the software and hardware sectors. Previously, Frey was an investment analyst at Brinson Partners, the asset management division of UBS. He received a BS from the State University of New York at Binghamton and a MBA from the University of Chicago Graduate School of Business.
Robert D. Straus, 32, IRG senior analyst, consumer & retail, was formerly a senior analyst at ING Barings LLC, formerly Furman Selz LLC, where he was the primary coverage analyst for the business and consumer services sector. Straus also covered the leisure and specialty retail and global wireless telecommunications and equipment sectors at Furman Selz. He received a BS from the University of Hartford and a MBA from Bentley College.
Erik B. Zamkoff, 30, IRG senior analyst, communications, was formerly an equity analyst at Merrill Lynch where he led coverage of interactive media and was co-analyst for the cable industry. Prior to Merrill Lynch, Zamkoff was a senior equity research associate at Morgan Stanley where he followed the Canadian telecommunications, cable and wireless industries. Zamkoff was also an equity research associate covering telecommunications equipment for Furman Selz LLC. He received a BA from the University of Pennsylvania and a MBA from New York University Leonard N. Stern School of Business.
Jason Y. Zhang, 38, IRG senior analyst, biotech, comes to the IRG from Stephens Inc., where he covered biotech companies focused on developing drugs for cancer and other major diseases. Zhang helped established Stephens as one of the premier sell-side firms covering cancer companies. Previously, he worked at Eli Lilly as a scientist and was involved in cancer drug development. He received a MBA from the Kelly Business School at Indiana University and a Ph.D. in molecular biology from the University of Hawaii.
About IRG
Independent Research Group LLC (IRG) hopes to revolutionize equity research by developing independent research and trading products that are focused exclusively on meeting the needs of hedge funds and money managers. IRG's proprietary equity research provides in-depth action-oriented investment ideas from our in-house top-tier industry analysts, without the conflicts of capital positions or investment banking relationships. Our analysts concentrate on uncovered and under-covered stocks and have a small to mid-cap focus ($200 million - $2 billion). Sector coverage includes communications, retailing, technology and biotech. We pride ourselves on primary research and are not guided by the consensus viewpoint. In addition to the proprietary equity research it will produce, IRG will market a full suite of professional investment products and services produced by its parent company, TheStreet.com.
About TheStreet.com, Inc.
TheStreet.com, Inc. (Nasdaq: TSCM - News) is a leading multimedia provider of independent research, financial commentary, analysis and news. Founded in 1996, the Company completed its initial public offering in May 1999. On the Internet, its premium, subscription-based website, "RealMoney.com" is accompanied by the professionally oriented subscription sites, "Street Insight," "RealMoney Pro Advisor," and the free, flagship site, "TheStreet.com." The Company also produces a suite of subscription services for use by professionals and self-directed investors, each designed to help a specific segment of the investing public make better-informed investing and trading decisions.
Statements contained in this news release not related to historical facts may be deemed forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject to risks and uncertainties (described in the Company's SEC filings), which could cause actual results to differ.
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Contact:
TheStreet.com, New York
Wendy Tullo, 212/321-5493
wendy.tullo@thestreet.com
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Source: Independent Research Group LLC |
