New Street Research
Built to Deliver Uncommon Insight

New Street Research is the premiere independent research boutique focused on the Telecommunications and Technology sectors globally.  We partner with the world’s leading investment institutions to bring them unique insights and ideas that will guide their investment decisions.

New Street Research was established in 2003 with a focus on the Communications Services Sector (Telecommunications, Cable, Satellite and Telecommunications Infrastructure companies).  In 2018, we are expanding our focus to include Technology Infrastructure (IT Hardware, Semiconductor, Semiconductor Capital Equipment and Communications Equipment companies).

We are broadening our coverage because we believe that bringing together talented thinkers with diverse perspectives on themes that cut across the technology, media and telecom landscapes will improve the quality of original insights we bring to our clients.

The New Street Research Advantage

The advantage we bring to our clients is built by talented thinkers, backed by unparalleled resources, pursuing insights that others have missed.

  • Talent: our team is cut from the best independent thinkers and analysts within the spheres of telecommunications and technology globally. We have reached beyond the investment community to find thought leaders from the fields of consulting, engineering, and policy to bring our clients real expertise.
  • Resources: our business model allows us to invest more in people and in data than the firms we compete against. Our team is broad, with diverse expertise. We partner with outside experts when needed, to ensure that our clients receive the very best advice. We build proprietary data sets when the information we need does not exist.
  • Focus: we concentrate our resources on a small number of issues where we feel we have differentiated insights and where the outcome of those insights matters to our clients. We believe our work is only truly valuable when it uncovers insights that others have missed. We pursue uncommon insights relentlessly.
  • Partnership: we believe the power of intellectual capital multiplies when bright minds from different but related fields collaborate to solve problems and generate insights. As partners, we anticipate the flow of technology trends and investment themes from the markets where they first emerge to other markets globally, and we anticipate how these themes and trends will ripple out from one sector to the next.

Our most important partners are our clients.

Your New Street Team

Leadership


Iain M Johnston
Managing Partner
Iain M Johnston
Managing Partner

Iain is the founder of New Street Research and the Senior Partner in London; he contributes to the Asian research product. Before establishing New Street, Iain was the Global Head of Telecom Research at J.P.Morgan and the no.1 ranked I.I. analyst. Whilst his colleagues enjoy energetic pursuits in their leisure time, Iain’s interests lie indoors: the arts, wine and Scottish Reeling.

iain@newstreetresearch.com
+44 20 7375 9124

James Ratzer
Communications Services: Europe Team Head
James Ratzer
Communications Services: Europe Team Head

James Ratzer heads up the European Communication Services research team and was one of the initial founding partners. Prior to helping found New Street Research, he led the Telecoms Research team at UBS, where the team was no. 1 ranked, and he was individually ranked as a number 1 analyst. Away from the office, James is a keen cyclist.

james@newstreetresearch.com
+44 20 7375 9125

Chris Hoare
Communications Services: Asia & EMEA Team Head
Chris Hoare
Communications Services: Asia & EMEA Team Head

Chris has been with New Street since 2006, leading our coverage of EM Telecom Services, with a particular focus on Asia and EMEA. He was previously an MD with Dresdner Kleinwort Wasserstein and co-head of their highly ranked European telecom team. Chris can often be found in Marrakech, tending his olive trees and mixing negronis.

chris@newstreetresearch.com
+44 20 7375 9130

Jonathan Chaplin
Communications Services: US Team Head
Jonathan Chaplin
Communications Services: US Team Head

Jonathan Chaplin leads the US Communications Services research team.  Prior to joining NSR he led the Telecom, Cable & Satellite research teams at Credit Suisse and JPMorgan where he was recognized as a top ranked analyst and stock picker by Institutional Investor, the Wall Street Journal and Forbes.  When he isn’t analyzing the telecom industry, Jonathan is often disconnected from all networks, in remote parts of the world, climbing mountains.

jonathan.chaplin@newstreetresearch.com
+1 212 921 9876

Pierre Ferragu
Technology Infrastructure: Global Team Head
Pierre Ferragu
Technology Infrastructure: Global Team Head

Pierre Ferragu heads up the Global Technology Infrastructure research team. Prior to joining New Street Research, Pierre spent over ten years at Bernstein, covering Telecom Equipment, Data Networking, Cybersecurity, Semiconductor, and Semiconductor Capital Equipment. He has been recognized multiple years as the #1-ranked analyst in surveys by Institutional Investors, Extel, Thomson Reuters, and Greenwich Associates. Prior to Bernstein, Pierre was a principal at BCG, and graduated in Telecom and Computer Sciences from Centrale-Supélec, and in Sociology from Sciences-Po, in Paris. When he doesn’t write research on the next technology disruption, Pierre develops his own machine learning algorithms and spends time at sea or in the mountains with his wife and five kids.

pierre@newstreetresearch.com
+1 646 681 4616

David Epstein
Global Chief Operating Officer
David Epstein
Global Chief Operating Officer

David is the Global COO of New Street Research. Prior to joining NSR, he held senior management positions at Gerson Lehrman Group and Bridgewater Associates and also worked in strategy and operations roles at BNP Paribas and McKinsey & Co. In a parallel life, David is a professional jazz pianist and avid language learner, although he currently spends most of his time trying to teach his two daughters jazz piano in a foreign language.

david.epstein@newstreetresearch.com
+1 646 681 4602

Communications Services Research – Europe & Latin America


James Ratzer
Communications Services: Europe Team Head
James Ratzer
Communications Services: Europe Team Head

James Ratzer heads up the European Communication Services research team and was one of the initial founding partners. Prior to helping found New Street Research, he led the Telecoms Research team at UBS, where the team was no. 1 ranked, and he was individually ranked as a number 1 analyst. Away from the office, James is a keen cyclist.

james@newstreetresearch.com
+44 20 7375 9125

Russell Waller
Communications Services: Analyst
Russell Waller
Communications Services: Analyst

Russell is a founding partner of New Street Research. He started his career at UBS Warburg, and was a member of the telecoms equity research team (with fellow New Street partners: James Ratzer, Soomit Datta and Charlie Gaynor) that was ranked No.1 in Extel and was ranked No.2 in the Institutional Investor survey.

russell@newstreetresearch.com
+44 20 7375 9127

Andrew Entwistle
Communications Services: Analyst – Global Technology and Regulation
Andrew Entwistle
Communications Services: Analyst – Global Technology and Regulation

>Andrew Entwistle leads our global communications technology and regulatory work and was one of the founding partners. Before New Street he worked as a consultant in the sector and is a Chartered Engineer. Away from work he plays the guitar and banjo in a 1920s dance orchestra.

andrew@newstreetresearch.com
+44 20 7375 9120

Soomit Datta
Communications Services: Analyst – Latin America
Soomit Datta
Communications Services: Analyst – Latin America

Soomit Datta heads up the Latin American TMT coverage at New Street. Prior to joining in 2004, Soomit was part of the no1. ranked European telecoms team at UBS covering the Nordic region. When not conducting on the ground research on the beaches around Rio, he spends his free time as a part time taxi driver for his young family.

soomit@newstreetresearch.com
+44 20 7375 9128

David Lopes
Communications Services: Associate
David Lopes
Communications Services: Associate

David joined New Street Research in 2014, to work within the European Communication Services research team. Prior to joining New Street Research he worked for AXA IM in the European cross-border fund marketing team and for Tikehau IM as a credit analyst in Paris. Outside of work he enjoys sports and especially football.

david@newstreetresearch.com
+44 20 7375 9147

Ben Rickett
Communications Services: Associate
Ben Rickett
Communications Services: Associate

Ben is a member of the European Communication Research Team. Prior to joining New Street Research Ben worked as a consultant to the telecoms industry, advising on spectrum auctions, corporate finance and regulatory matters. Ben has an MPhys degree from the University of Oxford. In his spare time Ben enjoys making gnocchi and websites. ben.rickett@newstreetresearch.com +44 20 7375 9123

Communications Services Research – US


Jonathan Chaplin
Communications Services: US Team Head
Jonathan Chaplin
Communications Services: US Team Head

Jonathan Chaplin leads the US Communications Services research team.  Prior to joining NSR he led the Telecom, Cable & Satellite research teams at Credit Suisse and JPMorgan where he was recognized as a top ranked analyst and stock picker by Institutional Investor, the Wall Street Journal and Forbes.  When he isn’t analyzing the telecom industry, Jonathan is often disconnected from all networks, in remote parts of the world, climbing mountains.

jonathan.chaplin@newstreetresearch.com
+1 212 921 9876

Spencer Kurn
Communications Services: Analyst – Towers & Infrastructure
Spencer Kurn
Communications Services: Analyst – Towers & Infrastructure

Spencer Kurn leads coverage of US Towers for New Street Research. Prior to New Street, Spencer was a member of the Telecom Equity Research team at Credit Suisse and the International Equity Research team at Putnam Investments. Spencer holds a BA in economics from the University of Pennsylvania and was a member of the Varsity Squash Team there.  In his spare time, Spencer enjoys playing squash, skiing, and making electronic music.

spencer.kurn@newstreetresearch.com
+1 212 921 2067

Blair Levin
Communications Services: Analyst – US Policy & Regulation
Blair Levin
Communications Services: Analyst – US Policy & Regulation

Blair Levin is the Policy Advisor to New Street Research. Prior to joining New Street, Blair spent a decade practicing law. He then served as Chief of Staff to FCC Chairman Reed Hundt (1993-1997), directed the writing of the United States National Broadband Plan (2009-2010), and was a policy analyst for Legg Mason and Stifel Nicolaus. Blair is also a Senior Non-Resident Fellow at the Metropolitan Policy Project at the Brookings Institute and is involved with a number of pro bono projects including his current effort in drafting a Global Broadband Plan for Refugees.

blair.levin@newstreetresearch.com
+1 240 401 0473

Vivek Stalam
Communications Services: Associate
Vivek Stalam
Communications Services: Associate

Vivek is an associate on the US Communications Services team. Prior to joining NSR, he had a variety of experiences across public and private equity, most recently at Water Asset Management, an alternative investment manager focused on the water industry.

vivek.stalam@newstreetresearch.com
+1 212 921 2079

Robert Shuffield
Communications Services: Associate
Robert Shuffield
Communications Services: Associate

Robert Shuffield works on the US Communication Services research team. Prior to joining NSR, he worked at TAP Advisors and executed a number of M&A transactions in the TMT space. When he’s not on the desk, Robert is snow skiing or traveling elsewhere and thinking about snow skiing.

robert.shuffield@newstreetresearch.com
+1 646 681 4603

Communications Services Research – Asia & EMEA


Iain M Johnston
Managing Partner
Iain M Johnston
Managing Partner

Iain is the founder of New Street Research and the Senior Partner in London; he contributes to the Asian research product. Before establishing New Street, Iain was the Global Head of Telecom Research at J.P.Morgan and the no.1 ranked I.I. analyst. Whilst his colleagues enjoy energetic pursuits in their leisure time, Iain’s interests lie indoors: the arts, wine and Scottish Reeling.

iain@newstreetresearch.com
+44 20 7375 9124

Chris Hoare
Communications Services: Asia & EMEA Team Head
Chris Hoare
Communications Services: Asia & EMEA Team Head

Chris has been with New Street since 2006, leading our coverage of EM Telecom Services, with a particular focus on Asia and EMEA. He was previously an MD with Dresdner Kleinwort Wasserstein and co-head of their highly ranked European telecom team. Chris can often be found in Marrakech, tending his olive trees and mixing negronis.

chris@newstreetresearch.com
+44 20 7375 9130

Alastair Jones
Communications Services: Analyst – Asia & EMEA
Alastair Jones
Communications Services: Analyst – Asia & EMEA

Alastair works in the emerging market telecoms sector where he has a range of responsibility including covering the Chinese, Korea, Taiwan, African and Russian telco operators. He was previously a member of the highly ranked Western European Telecoms team and the EMEA telecoms team at Morgan Stanley having emigrated from South Africa where he qualified as a chartered accountant. Outside of work, he enjoys various forms of outdoor activities regularly taking on new challenges.

alastair@newstreetresearch.com
+44 20 7375 9129

Technology Infrastructure Research


Pierre Ferragu
Technology Infrastructure: Global Team Head
Pierre Ferragu
Technology Infrastructure: Global Team Head

Pierre Ferragu heads up the Global Technology Infrastructure research team. Prior to joining New Street Research, Pierre spent over ten years at Bernstein, covering Telecom Equipment, Data Networking, Cybersecurity, Semiconductor, and Semiconductor Capital Equipment. He has been recognized multiple years as the #1-ranked analyst in surveys by Institutional Investors, Extel, Thomson Reuters, and Greenwich Associates. Prior to Bernstein, Pierre was a principal at BCG, and graduated in Telecom and Computer Sciences from Centrale-Supélec, and in Sociology from Sciences-Po, in Paris. When he doesn’t write research on the next technology disruption, Pierre develops his own machine learning algorithms and spends time at sea or in the mountains with his wife and five kids.

pierre@newstreetresearch.com
+1 646 681 4616

Rolf Bulk
Technology Infrastructure
Rolf Bulk
Technology Infrastructure

Rolf is a member of our Technology Infrastructure team, and is based in London. Prior to joining New Street Research, Rolf worked in Pierre’s #1-ranked Telecom Equipment and Semiconductors team at Bernstein. He also has previous experience in banking and brokerage at KAS Bank in Amsterdam and Neonet Securities in Stockholm. Rolf holds a MSc in Finance from the Stockholm School of Economics and a BA in Business from Rotterdam Business School. Rolf is passionate about the potential of space industry, and enjoys skiing and diving.

rolf@newstreetresearch.com
+44 207375 9118

Antoine Chkaiban
Technology Infrastructure
Antoine Chkaiban
Technology Infrastructure

Antoine is a member of our Technology Infrastructure team, and is based in London. Prior to joining New Street Research, Antoine worked on designing and deploying high performance computing applications in a range topics, including computer vision, consumer analytics and finance. Antoine holds a Masters of Engineering from CentraleSupélec, where he acquired scientific skills in advanced computer systems, mathematics, as well as theoretical physics and mechanics. He also went to Cornell University to conduct research at the Computer Science department. Antoine is passionate about A.I. and enjoys flying planes. antoine@newstreetresearch.com +44 207375 9126

Ben Harwood
Technology Infrastructure
Ben Harwood
Technology Infrastructure

Ben is a member of our Technology Infrastructure team, and is based in London. Prior to joining New Street Research, Ben worked in Pierre’s #1-ranked Telecom Equipment and Semiconductors team at Bernstein. Ben holds a MEng in Chemical Engineering from the University of Birmingham. In his spare time, Ben enjoys playing sports and travelling to explore different cultures.

ben@newstreetresearch.com
+44 207375 9160

Derek Mogull
Technology Infrastructure
Derek Mogull
Technology Infrastructure

Derek is a member of our Technology Infrastructure team, and is based in New York City. Prior to joining New Street Research, Derek was a quantitative analyst at Benetin Technologies and prior to that he worked as an Equity Trading and Quant product controller at Deutsche Bank. Derek holds a BS in Finance from Rutgers Business School and has completed course work towards an MBA at Cornell University. Derek is passionate about engaging with the less fortunate and enjoys collecting sports cards.

derek@newstreetresearch.com
+1 646 681 4638

Global Specialty Sales


Charlie Gaynor
Global Specialty Sales: Europe
Charlie Gaynor
Global Specialty Sales: Europe

Charlie is a member of the 3 strong Telecoms Sales Team working out of London, and since New Street’s beginnings has brought long standing Global Telecoms sales experience to the firm, working previously at UBS’s & JP Morgan’s ranked Telecoms Teams. Occasionally Charlie will join James Ratzer out cycling but prefers walking uphill on skis.

charlie@newstreetresearch.com
+44 20 7375 9121

Steven Perez
Global Specialty Sales: Europe
Steven Perez
Global Specialty Sales: Europe

Steven has more than 15 years experience, working previously at Goldman and Merrill, and most recently Deutsche where he managed a team. Away from the office, he endures surfing in cold conditions.

steven.perez@newstreetresearch.com
+44 20 7375 9112

Ethan Lacy
Global Specialty Sales: US
Ethan Lacy
Global Specialty Sales: US

Ethan has 20 years covering TMT as an II Ranked HY TMT analyst, as well as a Cable/Satellite Equity analyst, then four years as the number one ranked TMT Specialty Salesperson on the street at BAML, prior to joining New Street.

ethan.lacy@newstreetresearch.com
+1 212 921 4925

Zach Monsma
Global Specialty Sales: US
Zach Monsma
Global Specialty Sales: US

Zach spent 15 years in institutional equity sales at Lehman, JPMorgan & UBS prior to joining New Street. When not advising clients, Zach can be found at an ice rink, a lacrosse field, or cheering on anything associated with the University of Michigan—Go Blue!

zach.monsma@newstreetresearch.com
+1 212 921 7729

Bryan Fingeroot
Global Specialty Sales: US
Bryan Fingeroot
Global Specialty Sales: US

Bryan Fingeroot is a senior salesperson at New Street research with 17 years’ experience in various sales roles. Bryan joined the firm from Credit Suisse where he was the head of equity product flow, focusing on big picture themes, ideas, positioning, unique data and events. Prior to Credit Suisse, Bryan ran the Event Driven sales team at Deutsche bank where he focused on covering accounts interested in risk arb, spins/splits, activism and relative value with a catalyst. Bryan started his career at Bear Stearns in the institutional equities division. He is a graduate from Michigan State University where he is also a original member of the Financial Markets Institute advisory board.

bryan@newstreetresearch.com
+1 212 921 2070

Michael Chambers
Global Specialty Sales: Asia
Michael Chambers
Global Specialty Sales: Asia

Michael Chambers is responsible for building out the Asia-Pacific business for New Street Research. Now based in Singapore, Michael has worked for 26 years in Asia in Indonesia, Korea and Singapore. Prior to joining New Street Research, Michael worked for over 11 years at regional broker, CLSA, where he was a top ranked analyst and sales person before running the Korean business from 2008. In his spare time, Michael is raising two teenage daughters, which is a full time job in itself.

michael@newstreetresearch.com
+65 6730 9268

Joshua Evans
Global Specialty Sales: Europe
Joshua Evans
Global Specialty Sales: Europe

Josh Evans graduated from the University of Manchester with a B.A. in Economics. He has had experience in research, sales and capital markets. Prior to joining New Street Research, Josh worked at Libra Investment Services as a member of the European sales team producing Apollo, an equity valuation and risk product.

joshua@newstreetresearch.com
+44 20 7375 9115

Operations & Finance


David Epstein
Global Chief Operating Officer
David Epstein
Global Chief Operating Officer

David is the Global COO of New Street Research. Prior to joining NSR, he held senior management positions at Gerson Lehrman Group and Bridgewater Associates and also worked in strategy and operations roles at BNP Paribas and McKinsey & Co. In a parallel life, David is a professional jazz pianist and avid language learner, although he currently spends most of his time trying to teach his two daughters jazz piano in a foreign language.

david.epstein@newstreetresearch.com
+1 646 681 4602

Maria Van Tonder
Chief Financial Officer
Maria Van Tonder
Chief Financial Officer

Previously at HSBC, having worked at UBS and in private equity.

maria@newstreetresearch.com
+44 20 7375 9140

Maeve MacEvilly
Office Manager - London
Maeve MacEvilly
Office Manager - London

Maeve spent 17 years in Equities at JP Morgan where here roles included senior PA, Office Manager and Deputy Head of the Corporate Roadshow team. She joined New Street Research in London in 2010 as their Office Manager.

maeve@newstreetresearch.com
+44 20 7375 9111

Syvah Damus
Office Manager - US
Syvah Damus
Office Manager - US

syvah.damus@newstreetresearch.com
+1 646 681 4604

Contact

info@newstreetresearch.com

London

Sales:
Charlie Gaynor
T: +44 20 7375 9121
charlie@newstreetresearch.com

Steven Perez
T: +44 20 7375 9112
steven@newstreetresearch.com

Joshua Evans
T: +44 20 7375 9115
joshua@newstreetresearch.com

Office:
New Street Research LLP
11 Austin Friars
London, EC2N 2HG

T: +44 20 7375 9111

New York

Sales:
Ethan Lacy
T: +1 212 921 4925
ethan.lacy@newstreetresearch.com

Zach Monsma
T: +1 212 921 7729
zach.monsma@newstreetresearch.com

Bryan Fingeroot
T: +1 212 921 2070
bryan@newstreetresearch.com

Office:
New Street Research LLC
11 West 25th Street FL 11
New York, NY 10010

T: +1 646 681 4604

Singapore

Sales:
Michael Chambers
T: +65 6730 9268
michael@newstreetresearch.com

Office:
New Street Research Singapore Pte. Ltd
80 Anson Road #24-01B
Fuji Xerox Towers
Singapore 079907

T: +65 6730 9260