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Mediobanca

Meet the Team

Who we are

We are a business built on people. Since our foundation, we have maintained a client-centric approach, meeting our clients’ needs and building trust through everything we do.

Established in 1946, we have always strived to offer our clients highly specialized, innovative services in financial advice, consumer credit and asset management. Renowned for specialization, professionalism and discretion in our client relationships, we have earned an unrivalled reputation in Italy and a growing European recognition.

Since our foundation, we have blended tradition and innovation in all three of the Group’s areas of operation, each of which contribute equally to our performance as a business: investment banking, private banking, and wealth management.

Our roots lie in investment banking, over time becoming the leader in Italy and a renowned European operator. We are now the preferred partner for businesses seeking to expand, grow internationally and raise financing. Over the last 10 years, we have developed a strong international presence, especially in Europe.

https://www.mediobanca.com

Our Department

The Equity Research team:

  • Consists of 29 analysts, based in Milan and London, supporting over 200 companies throughout Europe in the Industrial and FIG sectors. The team is distinguished by its broad knowledge of the sectors and significant track record
  • Is strongly specialized in the sectors and areas analysed: the Equity Research area is ranked first in Italy and is a benchmark in Europe for research on Banks, Insurance and operators in the Utility & Infrastructure sectors. The analysts are among the top 10 in their reference sector
  • Is a qualified intermediary among institutional investors, companies and institutions, and is very active, organizing roadshows, dedicated events for investors and companies, and specific marketing activities
  • Is renowned for its Mediobanca CEO Conference, the number l corporate event in Italy. Based on the success which this event enjoys each year, a mid-cap conference has also been started up, to attract investors to this key segment for the market and the Italian economy
  • Is specialized in various sectors at Pan-European level: Banks, Insurance, Luxury, plus Utilities & Infrastructure in southern Europe, with across the board analysis of sectors combining a bottom up and top down selection process
  • Structures multiple dedicated products on a daily basis. Ongoing dialogue with colleagues on the sales and trading teams allows new trading ideas to be generated
  • Has unparalleled expertise IPOs, advisory, corporate broking and bespoke contracts

Sales

  • Mediobanca has a high-profile team of sales and traders with many years of experience in major international firms: the Mediobanca Research team has been voted the best Equity House in Italy by leading agency sectors, such as Extel and Institutional Investor.
  • International footprint, with sales and traders based in London, Milan, Paris and New York, covering institutional investors across geographies. The teams distribute research and ensure best execution on European and US equities.
  • The equity sales team organises more than 100 company roadshows per annum with top management of leading European listed companies in Europe and North America.
  • The team is fully integrated with our corporate broking team, which offers both corporate broking and specialist contracts providing liquidity on Italian small caps.

Sectors

Coverage of over 200 companies:

  • Financials
  • Utilities & Oil
  • Telecoms, Media Technology
  • Industrials & Cyclicals
  • Luxury and Consumer Goods
  • Small Caps

Companies

Mediobanca Research covers over 200 companies throughout Europe in the industrial and FIG sectors. Every year we publish:

  • More than 400 Company Reports
  • More than 300 Daily Banks/Insurance/Italian/Specialty Finance Navigator Reports
  • About 90 Sector Reports
  • Market guides

Please Contact Us

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Milan

Piazzetta Enrico Cuccia, 1

20121 Milan, Italy

Tel. +39 02 8829 1

Email: mediobanca.research@mediobanca.com

London

4th floor, 62 Buckingham Gate

SW1E 6AJ London, United Kingdom

Tel. +44 203 0369 500

Email: mediobanca.research@mediobanca.com

New York

1450 Broadway

10018 New York, USA

Tel. +1 212 9914745

Email: mediobanca.research@mediobanca.com

Paris

23 Avenue D’Iéna

75116 Paris, France

Tel. +33 1 568 868 68

Email: mediobanca.research@mediobanca.com

Statistics on ratings (1Q 2024)

Proportion of all recommendations that are "Outperform", "Neutral", "Underperform", and "Not rated":  

Proportion of issuers corresponding to "Outperform", "Neutral", "Underperform" and "Not rated" categories to which Mediobanca has supplied material investment banking services:

Chinese Walls and other disclaimers

Conflict of interests arising between the activities in which Mediobanca is engaged, are managed by organizational and physical barriers, called "chinese walls", designed to restrict the flow of information between different Mediobanca's business areas. In particular, Investment Banking units are separated by physical and organizational boundaries from the Equity Research unit (i.e.: location in different buildings, inability to exchange e-mails, impossibility to share files, etc.). Please refer to the Policy on production and distribution of investment research reports of Equity Research for additional information.

Research Note Authors

The recommendations contained in the MB Securities section of this website have all been issued by Mediobanca staff employed at the Equity Research unit. The chief professional activity of such staff is to write and publish such recommendations. Their remuneration is not in any way linked to corporate finance transactions carried out by Mediobanca and/or companies forming part of the Mediobanca Banking Group. Please refer to the Policy on production and distribution of investment research reports of Equity Research for additional information.

Rating system – Methodology

Outperform (O): The stock's total return is expected to exceed the average total return of the analyst's industry (or industry team's) coverage universe, on a risk-adjusted basis, over the next 6-12 months.

Neutral (N): The stock's total return is expected to be in line with the average total return of the analyst's industry (or industry team's) coverage universe, on a risk-adjusted basis, over the next 6-12 months.

Underperform (U): The stock's total return is expected to be below the average total return of the analyst's industry (or industry (team's) coverage universe, on a risk-adjusted basis, over the next 6-12 months.

Not Rated (NR): Currently the analyst does not have adequate confidence about the stock's total return relative to the average total return of the analyst's industry (or industry team's) coverage, on a risk-adjusted basis, over the next 6-12 months. Alternatively, it is applicable pursuant to Mediobanca policy in circumstances when Mediobanca is acting in any advisory capacity in a strategic transaction involving this company or when the company is the target of a tender offer.


Our recommendation relies upon the expected relative performance of the stock considered versus its benchmark. Such an expected relative performance relies upon a valuation process that is based on the analysis of the company's business model / competitive positioning / financial forecasts. The company's valuation could change in the future as a consequence of a modification of the mentioned items.

Please consider that the above rating system also drives the portfolio selections of the Mediobanca's analysts as follows: long positions can only apply to stocks rated Outperform and Neutral; short positions can only apply to stocks rated Underperform and Neutral; portfolios selection cannot refer to Not Rated stocks; Mediobanca portfolios might follow different time horizons.

The current stock ratings system has been used since 1 July 2013. Before then, Mediobanca S.p.A. used a different system, based on the following ratings: outperform, neutral, underperform, under review, not rated. For additional details about the old ratings system, please access research reports dated before 1 July 2013 from the restricted part of the “MB Securities” section of the Mediobanca S.p.A. website at www.mediobanca.com