About
Todd Bault, FCAS
Mr. Bault leads the global Insurance practice at Sector & Sovereign Research. He has over 20 years of combined experience in the insurance industry and equity research. Most recently, Mr. Bault served 10 years at Sanford C. Bernstein, where he was rated the #1 US Non-Life Insurance analyst for the years 2004-2008 by Institutional Investor. As an equity analyst, Mr. Bault pursued an in-depth, realistic, and unbiased portrayal of the complex industry of insurance. As a Fellow of the Casualty Actuarial Society since 1994, he incorporated the rigor of loss reserve analysis, price monitoring, and loss trend forecasting into actionable equity research.
Before joining Bernstein, Mr. Bault was Senior Vice President and Chief Actuary for Stamford-based Odyssey Re during the years 1998-99. He started his career in 1988 with a 10-year stint at The St. Paul Companies, now part of Travelers. At St. Paul he served in many roles, including time in the London reinsurance market assisting St. Paul in acquiring some of the first Lloyd’s corporate capital vehicles, and culminating as an Officer in St. Paul’s Strategic Planning & Corporate Development unit. Mr. Bault has a BA in Mathematics and BFA in Music Composition from SUNY at Buffalo, and an MS in Applied Mathematics from Michigan State University.
Richard Evans
Dr. Evans is a 20 year industry veteran and leads the Healthcare practice at Sector & Sovereign Research, LLC. As a senior executive in the pharmaceuticals industry, Dr. Evans responsibilities ranged from corporate strategy to the pricing and distribution of the company’s products. His variety of assignments provided a comparable variety of vantage points on the industry. As an analyst with Sanford C. Bernstein, he was ranked #1 by both Bloomberg and Institutional Investor for his U.S. pharmaceuticals coverage – across all industries and coverage he was ranked one of the top 20 analysts worldwide. Dr. Evans is the author of “Health and Capital” published in August of 2009. He is a co-founder of Sector & Sovereign Research, LLC.
Rob Gryboski
A 17-year Wall Street veteran, Mr. Gryboski joined Sector & Sovereign Research in March 2010 after 12 years at Sanford C. Bernstein. In his most recent role as Director of Institutional Research Sales at Bernstein, he forged relationships with the investment professionals at many of the firm’s largest accounts, highlighting Bernstein’s research product and showcasing its top investment ideas. Prior to joining Bernstein in 1997, Mr. Gryboski spent the first three years of his career as an analyst at Grandview Partners, L.P., a Boston-based hedge fund, followed by two years at Promethean Investment Group in New York City. He is a 1992 graduate of Yale University, and lives in Lloyd Harbor, NY.
Scott Hinds
Mr. Hinds leads the Economics/Demographics practice at Sector & Sovereign Research. He is an experienced economist, having received his M.S. from the University of North Carolina, where he taught Microeconomics to both graduate and undergraduate students. His degree includes a concentration in Microeconomic Theory and extensive experience in complex econometric techniques. Mr. Hinds graduate research focused on information asymmetries and the game theoretical foundations of herd behavior. His work has been published in Nature Reviews Drug Discovery and the Handbook of Public Finance. Mr. Hinds has also worked in investment banking with Lehman Brothers and as a strategic consultant with AVOS Life Sciences. As an equity capital markets financial analyst, Mr. Hinds worked on numerous IPOs, convertible and PIPE offerings for a range of healthcare, biotechnology and industrial companies. More recently he worked as a strategic consultant specializing in large scale quantitative engagements for a number of pharmaceutical clients.
Artur Pylak
Mr. Pylak is an experienced technology, media, and telecommunications analyst having consulting experience advising high profile corporate and private equity clients across the US, Europe, and Asia. His experiences span several TMT subsectors. Prior to joining Sector & Sovereign Research, LLC, Artur was with Digitas/Publicis Modem and L.E.K. Consulting. His consulting experiences include developing business plans for start-up cable channels, due diligence /valuation of media companies, anti-piracy strategy, market sizing of new media innovations, and analyzing the ROI of cross-channel marketing campaigns for a major cable/telecommunications provider. Artur earned his MBA from INSEAD in Fontainebleau, France. He also received his Master of Science in Foreign Service from Georgetown University and his BA magna cum laude with distinction in International Relations from the University of Pennsylvania.
Brian Raabe
Mr. Raabe spent over a decade with GE Capital and IBM Global Finance in roles that spanned M&A, risk management and audit. In 2000 he joined Sanford C. Bernstein in Institutional Research Sales. He spent 8 years with the firm managing a roster of relationships, recruiting and training the sales staff, and acting as a member of the Recommendation Review Committee. In 2007 he joined Empirical Research Partners a portfolio strategy and quantitative research boutique. Mr. Raabe was the Head of Sales at Empirical responsible for the domestic and international client base. He received his BBA in Finance from Western Connecticut State University, his MBA from Columbia and is a co-founder of the firm.
Paul Sagawa
Mr. Sagawa leads the Technology, Media and Telecom practices at Sector & Sovereign Research, LLC. He has worked in and around the industries for over 20 years, including his 11 year tenure as a senior research analyst at Sanford C. Bernstein. While at Bernstein, he was named to the Institutional Investor All-Star Team in three different categories, including the number one position in wire-line communications equipment after his prescient call in September 2000 noted that cash strapped telecom carriers would be unable to pay for technology purchase commitments and correctly predicted the subsequent collapse in the sector. In his most recent position at Bernstein, Paul conceived and launched a new business area as the firm’s first Small Cap Equity Strategist.
Prior to Bernstein, Paul spent six and half years at McKinsey and Company, rising to the position of technology sector specialist in recognition of his communications industry acumen. His earlier experience includes three years as a sales representative for AT&T’s equipment business. Paul earned his AB in Economics and MBA from Harvard University.