Stephen OÆSullivan leaves Deutsche for Macquarie | macquarie

Macquarie Securities has appointed Stephen OÆSullivan as executive director and head of research for Asia. OÆSullivan was previously with Deutsche Bank as head of research for European, Middle East and Latin American emerging markets. He joins Macquarie and replaces Mark Rosenfeld who is leaving the firm and returning to the United Kingdom.

OÆSullivan took up his new role yesterday. He will be based in Hong Kong and report to David Rickards, the firmÆs global head of research.

ôStephen has had a long and successful career building and leading research businesses across a range of the worldÆs leading emerging markets. Stephen brings a wealth of experience to Macquarie and will take our Asia research product to the next level,ö says Basil McIlhagga, head of Macquarie Securities in Asia. ôMark has played an important part in the growth and success of the research business and we wish him all the best for the future.ö

OÆSullivan himself says: ôMy aim is the same as itÆs always been: to help our team generate money-making ideas for our clients, provide the best client service we can and create the number one research team in Asia. I look forward to working with Basil and the regional team to expand the research product and continue to grow our securities business in Asia."

Covering emerging markets for the last 12 years, O'Sullivan has led an oil & gas team, a Russia country team and a regional research team which came number one in Institutional Investor and Extel surveys. Last year, both surveys ranked his team number one across the Europe, Middle East and Africa region, the Russian market and the oil & gas sector.

Prior to his years with investment banks, he spent 14 years in the oil industry, with experience working in Total Oil Marine as an economist, and at BP as an economist as well as an oil trader.

"Macquarie SecuritiesÆ growth in Asia has been very impressive. At a time when other banks are reducing their research platforms, Macquarie has a very strong commitment to research across the region, with more than 115 analysts covering 11 markets. As a result Macquarie can provide tremendous depth and quality in both its country and sector coverage at a time when investment flows are surging across the region and high-quality, differentiated research is more necessary than ever,ö OÆSullivan reckons.

Since its acquisition of the ING cash equities business in 2004, Macquarie Securities has grown rapidly in Asia. Last month the firm announced its annual results of 2007 with a fiscal year ended in March, showing that its brokerage revenue in Asia had gone up more than 40% over the same period last year.