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Research
The experience and track record of the Fidentiis analysts allows for privileged access to shareholders and management teams as well as offering top quality business and industry views to institutional clients.
Fidentiis has more than 15 research analysts across Spain and Italy specialized in the coverage of listed companies in Southern Europe; Fidentiis has research coverage of more than 150 listed companies across Spain, Portugal and Italy.
The key Fidentiis research products include detailed fundamental individual company research reports, sector and macroeconomic research pieces as well as daily investment products.
Additionally, Fidentiis delivers frequent and bespoke "reverse roadshows“ allowing international investors and analysts to meet with companies on the ground delivering greater understanding and different perspectives ultimately complementing their investment process.
Coverage
Currently, Fidentiis covers more than 150 companies listed in Spain, Portugal and Italy.
SPAIN
ITALY
PORTUGAL
Research Team IBERIA
James McKenzie
Head of Research
James, head of research at Fidentiis, has worked as an analyst on the telecommunications industry since 1999. Initially specialising in Latin America as part of a small Latin American team within Cazenove, he moved to cover the Southern European markets in January 2000. James qualified as an chartered accountant in Deloitte and has an engineering degree from Imperial College London.
Pepa Chapa
Senior Analyst
Pepa is the Construction & Real Estate analyst at Fidentiis since its inception in September 2003. She has been covering these sectors as a fundamental analyst since 1997. Previously, she started her professional career at Arthur Andersen (which afterwards became Deloitte&Touche) as an accountant and consultant for the construction and real estate sectors. She has a Bachelor Degree in Business Administration from ICADE E-2.
Daniel Rodríguez
Senior Analyst
Daniel is Fidentiis' utilities analyst. He started working as a small and mid cap and motorway analyst for Robert Fleming Securities in 1997. In 2000, he joined Citigroup Iberian Team.
Patricia Cifuentes
Senior Analyst
Equity research Senior Analyst, at Fidentiis since 2004. She is focused on fundamental analysis of Iberian equities, covering Retail, Pharma and Oil services, amongst others. She is also responsible for Fidentiis’ macro product. Bachelor Degree in Business Administration from ICADE E-2.
Mario Ropero
Senior Analyst
Mario works as a banking analyst at Fidentiis since 2011. In 2006, he began his career in the corporate finance department of Deloitte. In 2008, he joined the real estate private equity team of Credit Suisse in London. In 2010, Mario joined BBVA in the department of corporate development & strategy. Mario is a CFA charterholder.
Enrique Yáguez
Senior Analyst
Enrique joined Fidentiis in 2019, covering mid and small caps. He has a special focus on financials, industrials and consumer staples. Enrique has 12 years of experience as an equity analyst, working in Mirabaud securities since 2007.
Ignacio Martínez
Analyst
Ignacio began his professional career in 2009 working as an ECM analyst for Banco Santander. In 2011 he moved to Fidentiis where he also worked as an ECM analyst prior joining the research team in May 2014, covering REIT and industrial companies.
Ignacio Arce
Analyst
Ignacio works as a Telecoms and Oil & Gas analyst at Fidentiis. Moreover, he holds coverage of some Small & Mid-Caps. He is also responsible for the macro product on Portugal, Brazil and Mexico. Ignacio has a Bachelor of Business Administration and Finance by CUNEF (Madrid) and by the ICMS (Sydney). After doing several internships in different firms among the financial sector (i.e.: PWC, Bank of Spain, Espirito Santo Investment Bank and JP Morgan), he joined Fidentiis straight from University in June 2014.
Carlos Ais
Analyst
Carlos is part of the Equitity Research Team at Fidentiis since 2019, covering the SMID space with a special focus on industrial companies.
He started his career in 2014 at Kepler Cheuvreux analysing the Spanish RE sector as well as industrial companies. After more than three years he joined a family office focused on the Leisure & Travel and Real Estate sectors, where he reported to the Board of Directors.
Carlos holds a bachelor degree in Business Administration from the Comillas Pontifical University in Madrid.
Research Team ITALY
Marco Opipari
Senior Analyst
Marco covers Italian Oil & Gas, Automotive, Cement & Construction and Real Estate sectors at Fidentiis Milan. After a university degree in Business Administration, he started working in 1990 as a junior equity analyst for Analitica. He also worked in Akros, Intersim, Rasfin, Centrosim and Metzler, where he became Head of Italian Equity Research in 2001. Marco then moved to RasBank as Head of Research and afterwards to Dresdner as Head of Italian Mid & Small Cap Research. He later spent 5 years out of the brokerage market, working as financial analyst in some small consulting and media firms, and then returned to the brokerage industry as equity analyst in Centrobanca and ICBPI, before joining Fidentiis in July 2017.
Fabrizio Bernardi
Senior Analyst
Fabrizio covers Italian banks at Fidentiis Milan. After a university degree in Economics, he started working as a junior auditor for Coopers & Lybrand and then moved to Deutsche Bank on the Securities Lending Desk for 3 years. He entered the brokerage market with Allianz and then moved to Mediobanca where he covered Italian banks for almost 5 years. Fabrizio then moved again to Deutsche Bank as a senior equity analyst and afterwards he spent 2 years in London at Evolution Securities covering Italian and C&EE-exposed banks. Fabrizio joined Fidentiis in May 2011.
Dario Michi
Senior Analyst
Dario has worked as an equity analyst in the utilities and oil&gas sectors since 2001. Prior to Fidentiis, he was sector coordinator of the European utilities at Banca Akros - ESN. He previously worked for Centrobanca, Banca MB and KBL Fumagalli Soldan.
Pietro Solidoro
Analyst
Pietro Solidoro serves as a Research Analyst at Fidentiis since September 2017. Prior to joining the firm, Pietro served as Small and Mid-Cap Equity Research Analyst at Banca Aletti (Gruppo BancoBpm). He also previously worked as an Equity Research Analyst at Heikkinen Energy Advisors (TX, USA) focusing his time in the offshore drilling sector. Pietro holds a BS in Finance from Wake Forest University in the US.
Renato Gargiulo
Analyst
Renato has worked as an equity analyst in the industrial sector since 2005. Prior to Fidentiis, he was member of the Industrials and small & mid cap team at Intermonte. He previously worked for the Italian equity teams at Banca Aletti (Banco Popolare), Centrobanca (UBI) and Cheuvreux.