Ali Naqvi, head of equity research for Asia ex-Japan, says the bank, which now has onshore coverage in 10 countries, says that offering in the Philippines is a natural progression in the bank's effort to expand its emerging market coverage.
To lead the effort, Credit Suisse hired Gilbert Lopez as a director and head of research for the Philippines. He reports to Naqvi.
Lopez, who has 15 years of research experience, covers banks, conglomerates and property. He moved from Macquarie Securities Philippines. He is a certified public accountant.
Edser Trinidad has joined as a vice president to cover telcos and utilities. A telecommunications sector specialist with 13-years of research experience, he has also covered food & beverage and construction. Trinidad joined from CLSA Philippines.
Their mandate will be to cover at least 25 index names on the Manila stock exchange by the end of the year.
ôThe appointments of Gilbert and Edser strengthen our equity research offering in Asia ex-Japan and complement our strong investment banking franchise on the ground,ö says Naqvi. ôWe see emerging markets as an area of focus and bringing equity research onshore is part of that strategy. We are optimistic about the future outlook of the country and the economy.ö
Naqvi says that Credit Suisse could be looking to expand the Philippines team late next year. Other possible emerging market countries Credit Suisse could ultimately begin to cover onshore include Vietnam and Pakistan.