FrostRB is a Research Valuation/Budgeting platform that transcends “broker-vote” systems allowing asset managers to construct comprehensive research valuation/reporting frameworks specifically designed to meet MiFID II requirements.
FrostRB is a multi-asset class solution that harmonizes research budgets between equity and fixed income portfolios for multi-asset products.
Key benefits include:
The FrostRB framework can form the basis of the Research Valuation Policy (equivalent of Best Ex Policy) required by MiFID II. This policy must explain the manager’s research valuation methodology and the manner in which they fairly allocate research costs to different clients.
Neil Scarth has held a wide range of roles in asset management and investment banking in Europe and North America over the last 25 years, ranging from running equity businesses at global banks to launching and managing various asset management products. Neil has comprehensive knowledge of the strategic and competitive framework that governs the inter-relationships between plan sponsors, asset managers and investment banks.
Neil was a member of the UK Investment Management Association's Research Review Advisory Panel which helped craft the association's response to the FCA on research commissions. Frost was sponsored by CFA UK and the CFA Institute to write a White Paper on Equity Research Valuation to help asset managers meet new regulatory requirements.
Neil holds an MA from the University of Southern California and a BA from Carleton University.
Thomas Auschill has extensive experience in Institutional Equities stemming from a variety of roles at global banks including Macquarie, Lehman Brothers, Deutsche Bank and ABN AMRO in London and Frankfurt. In his previous roles as Head of Client Account Management Thomas was advising on industry and market structure changes relating to payment for research
(unbundling / MIFID II).
He gained wide experience in CSA payment structures and mechanisms, broker vote systems, commission management and revenue collection processes, account management programs (Research, Sales, Execution Services), corporate access and alpha capture systems. Thomas has over 20 years of experience advising buy-side clients including Asset Managers, SWFs, Private Banks and Family Offices. Prior to joining Frost Consulting Thomas was Member of the Executive Board at equinet Bank, a Member of the European Securities Network.
Thomas Auschill was educated at Harvard Business School in Boston and J.W. Goethe University in Frankfurt. He is married and has three children.
Since 1995, Quentin Millington has enabled investment banks to enhance performance through new systems and processes. He has held global roles at asset management and sell-side firms, where he directed joint business and IT transformation programmes to enhance service, increase revenue and cut cost. He has also advised investment banks on research content, product design, compliance, operations and delivery.
As Chief Operating Officer (COO) of Global Research at UBS, Quentin delivered the industry’s first mobile research product; his team designed the institutional portal that won the Extel Survey ‘#1 Brokerage Firm Web Site’ award. At Flemings, he introduced a top-ranked equities earnings forecast as well as a global CRM platform. Quentin was Global Head of Strategy Implementation for Merrill Lynch’s US$1bn research franchise.
He spearheaded BIG Asia, the research industry consortium that broke the monopoly of proprietary intermediaries, allowing analysts to build more direct relationships with asset managers. Quentin has an MA from the University of Oxford, an MSc from London and an MPhil in Innovation, Strategy and Organisation from Cambridge.
PJ Davies has had a wide variety of roles in asset management and software. He served as a senior portfolio manager at Irish Life specializing in Asian equities. Subsequently he spent 12 years at Pioneer Investments in Dublin, where his responsibilities included senior fund management roles, leading the global consumer research team, and acting as Head of Research.
PJ also served as the Managing Director of Quest, Canaccord's proprietary stock screening, analysis and valuation software platform heading the team overseeing system development and distribution.
PJ has degrees from Oxford University and the Cass Business School.
Francois has been in the investment management and investment banking industry for over 25 years. At Fiduciary Trust, Mr. Gour managed mutual, endowment and pension funds.
He was the co-founder and managing partner of Themavest LLC, a firm with a thematic investment strategy. His sell side experience includes being an Emerging Markets Equity Strategist at Credit Lyonnais Securities and Co-Director of research at Caspian Securities in New York. More recently, Francois has focused on European markets at Oddo Securities, Sal. Oppenheim and Commerzbank. Mr. Gour holds a Bachelor’s degree in Economics from the University of British Columbia and an MBA in Finance from McGill University.
Francois is based in New York City.
Kirsty has been in the investment management and investment banking industry for 16 years, spending time in Hong Kong, New York, Boston and London. As a portfolio manager, she specialised in Asian and emerging markets equities at both traditional asset management firms and hedge funds, including Rothschild Asset Management and Sofaer. She also served as equities research manager for Rexiter Capital Management. Kirsty’s four years on the sell side were spent on the Asian equities sales desk at JP Morgan.
Kirsty has a PhD in finance from Cambridge University, and is a CFA and CAIA charterholder.