Pioneer appoints head of Equity Research, US
Pioneer Investments has announced that Craig D. Sterling (pictured) has joined as Senior Vice President, head of Equity Research, US.
In this role, he is responsible for managing Pioneer Investments’ team of 14 US equity research analysts based in Boston. The team supports a wide range of equity strategies with approximately $29bn in equity assets managed in the US as of March 31, 2015. Craig’s appointment is effective May 4, 2015.
Craig was previously managing director and head of Global Equity Research at EVA Dimensions, a New York independent equity research firm. He has extensive experience developing Economic Value Added (EVA)-based equity research and implementing structure into the fundamental investment decision process.
EVA, an alternative to standard accounting-based metrics such as earnings per share, net income, and EBITDA (earnings before interest, taxes, depreciation, and amortization), is a method for measuring a company’s true profit by converting accounting profit to economic profit, reversing accounting distortions, and measuring the dollar value of profit after all costs, including the cost of giving shareholders a fair return on invested capital. A focus on invested capital and value creation, key components of EVA, have been part of Pioneer Investments’ equity research process for many years.
“Craig’s arrival represents a significant opportunity to continue to strengthen our research platform and processes,” said Marco Pirondini, head of Equities, US. “Craig’s approach to equity valuation is very much aligned with Pioneer Investments’ established practices, and he brings experience and perspective that can add tremendous value to our research team,” Pirondini added
On May 29, Sterling will become a Portfolio Manager on the Pioneer Investments’ research-based US equity strategies. Paul Cloonan and John Peckham, currently Co-Heads of U.S. Equity Research, will focus on portfolio management going forward. Paul will focus exclusively on US large-cap growth equity portfolio management. John will focus on U.S. value equity portfolio management.
Prior to EVA Dimensions, Craig held senior positions in the Credit Suisse Group’s investment banking division, including the HOLT research and content franchise. Before joining Credit Suisse, he worked in UBS Investment Bank’s global industrials group. He has a BSBA from Washington University in St. Louis and an MBA from the University of Chicago.