Madhav Kapadia

CEO

CEO and Chairman, Madhav has extensive credit research, portfolio management and investment banking experience since 2000. Prior to founding Lucror Analytics in 2010, Madhav was a Director in the Portfolio Management and Corporate Banking Group at Credit Suisse in London. In his role, he managed a team of London and Zurich based credit analysts. He started his career at Credit Suisse in the M&A group, where he advised on a number of high-profile deals. He has worked across several products and industries, with a focus on business strategy and origination, defence takeovers and merger-related transactions including buyside, sellside and leveraged-buyouts.

Madhav graduated from the University of California, Berkeley with a BSc in Chemical Engineering and holds a MSc in Finance from Imperial College, London.

Felix Fischer

Global Head of Research & Head of Europe

Felix has significant experience in the European Credit and High Yield space. In 1998, He started his career at DEKA Investment Management GmbH, where he worked as a Portfolio Manager and Credit Analyst for three years. In 2001, Felix joined Unicredit Group (formerly Hypo-Vereinsbank) as a Sellside Credit Analyst. Later he was promoted to Head of High Yield Research and Co-Head of Corporate Credit Research. In 2007, Felix joined Lehman Brothers focusing on High Yield and Distressed Debt as a Senior Analyst. In March 2009 he joined PIMCO as a Senior Credit Analyst and joined Lucror at its launch as Head of Credit Research in 2010.

Felix holds a Doctorate degree in Business Administration from The University of Bayreuth and a MBA degree from the University of Chicago. Felix is a CFA Charter holder.

Charles Macgregor

Head of Asia

As an industry veteran with over 30 years of experience, Charles has responsibility for development and promulgation of Lucror’s Asian credit research product. Charles joined Lucror in March 2013, prior to which he was Head of Credit Research, Asia-Pacific at Aberdeen Asset Management. Previously Charles worked for Deutsche Asset Management, where he was Head of Credit Research, Asia-Pacific and Co-Chair of their Global Credit Methodology Committee. He also worked at Moody’s where he was a Senior Credit Officer and a member of their New Instruments Committee and Symbols & Definitions Committee. Other experience includes 12 years in banking and 4 years in public accounting.

Charles has a Bachelor of Economics from the University of Sydney and a Masters of Applied Finance from Macquarie University. He is a Fellow of Chartered Accountants Australia & New Zealand.

Panos Paraskevopoulos

Head of Sales & Strategy

A founding member of Lucror Analytics, Panos has been responsible for establishing and developing Lucror’s presence within the financial community. He leads the company’s global sales efforts and is responsible for planning and executing strategic growth initiatives for Lucror. Panos has significant financial sector sales experience, most recently as an Equity Sales Trader with NBG in London and for four years as a sales account manager for Thomson Reuters in Athens and Geneva, where he moved after a two-year stint as an FX dealer. Throughout his career, Panos has been actively involved in key operational and business restructurings across geographies.

Panos holds a Bachelors degree in Financial Economics from Kingston University and a Masters degree in Finance from Imperial College, London.

Jayanth Kandalam

Deputy Head of Europe

Prior to joining Lucror in 2010, Jayanth was a high yield analyst at Nomura, focusing on the packaging and chemicals industries. He joined Lehman Brothers' European research team in 2006 and has also previously worked with Infosys in its offshore credit research team. Jayanth shares responsibility in the development of Lucror's European high yield product.

Jayanth holds an MBA in Finance from Fore School of Management, Delhi and a Bachelors degree in Commerce.

Felix Fischer

Global Head of Research & Head of Europe

Felix has significant experience in the European Credit and High Yield space. In 1998, He started his career at DEKA Investment Management GmbH, where he worked as a Portfolio Manager and Credit Analyst for three years. In 2001, Felix joined Unicredit Group (formerly Hypo-Vereinsbank) as a Sellside Credit Analyst. Later he was promoted to Head of High Yield Research and Co-Head of Corporate Credit Research. In 2007, Felix joined Lehman Brothers focusing on High Yield and Distressed Debt as a Senior Analyst. In March 2009 he joined PIMCO as a Senior Credit Analyst and joined Lucror at its launch as Head of Credit Research in 2010.

Felix holds a Doctorate degree in Business Administration from The University of Bayreuth and a MBA degree from the University of Chicago. Felix is a CFA Charter holder.

Charles Macgregor

Head of Asia

As an industry veteran with over 30 years of experience, Charles has responsibility for development and promulgation of Lucror’s Asian credit research product.  Charles joined Lucror in March 2013, prior to which he was Head of Credit Research, Asia-Pacific at Aberdeen Asset Management.  Previously Charles worked for Deutsche Asset Management, where he was Head of Credit Research, Asia-Pacific and Co-Chair of their Global Credit Methodology Committee.  He also worked at Moody’s where he was a Senior Credit Officer and a member of their New Instruments Committee and Symbols & Definitions Committee.  Other experience includes 12 years in banking and 4 years in public accounting.

Charles has a Bachelor of Economics from the University of Sydney and a Masters of Applied Finance from Macquarie University.  He is a Fellow of Chartered Accountants Australia & New Zealand.

Jayanth Kandalam

Deputy Head of Europe

Prior to joining Lucror in 2010, Jayanth was a high yield analyst at Nomura, focusing on the packaging and chemicals industries. He joined Lehman Brothers' European research team in 2006 and has also previously worked with Infosys in its offshore credit research team. Jayanth shares responsibility in the development of Lucror's European high yield product.

Jayanth holds an MBA in Finance from Fore School of Management, Delhi and a Bachelors degree in Commerce.

Tanvi Arora

Senior Credit Analyst

Tanvi joined Lucror in 2010 from Deutsche Bank’s European research team, where she spent over three years in credit research across a gamut of European corporates, mainly in the retail and consumer space. Prior to that she was part of Infosys’s offshore credit research team.

Tanvi holds an MBA in Finance from University of Wales and a Bachelors degree in Commerce from Mumbai University.

Haidje Rustau

Senior Credit Analyst

Prior to joining Lucror in 2016, Haidje spent fifteen years as a credit analyst. She started her career at rating agency Duff & Phelps, where she was a corporate credit analyst focussing on high yield and emerging market issuers. Subsequently, she added equity experience at DLJ International as an emerging market oil & gas analyst. Following DLJ's takeover by Credit Suisse, she joined Barclays Capital on the convertible bond desk, covering EMEA and Asian convertible bond issuers. Haidje also has buyside experience, gained at Pine River Capital, where she was covering Asian issuers. Her most recent employment was at Mitsubishi UFJ Securities, where she was a Director on the convertible bond desk. 

Haidje has an MA in Modern Chinese Studies from Humboldt University of Berlin and an MA in The Chinese Business World from SOAS, and is a CFA charter holder.

Sebastian Hofmeister

Senior Credit Analyst

Sebastian is based in Munich, Germany, and joined Lucror in February 2017 as a Senior Credit Analyst, Director LatAm. He has significant experience in high yield credit, portfolio management, and corporate ratings. Prior to joining Lucror, Sebastian spent six years at NN Investment Partners in The Hague as a senior PM/analyst as part of the company’s global high yield team, focusing on the European market during a period of strong AuM growth for the firm. From 2001 to 2010, he worked at Moody’s, where he started covering European and US corporate names out of Frankfurt and New York, and then spent five years analysing Latin American corporates as a senior analyst based in Mexico City.

Sebastian holds a Master’s degree in economics from Humboldt University, Berlin and is a CFA Charter holder.

Josseline Jenssen

Senior Credit Analyst

Josseline is based in Lima, Peru, and joined Lucror in February 2017 as a Senior Credit Analyst, Director LatAm. She has more than 20 years of experience in the financial analysis of a large number of companies and sectors in Latin America, including the assessment of project finance, structured finance, securitisations and financial institutions. Prior to joining Lucror, Josseline worked at Fitch Ratings, where she was a Director in the LatAm Corporate Ratings team in charge of the Peruvian internationally rated portfolio and member of the LatAm Rating Committee. She also worked as a senior analyst for local and international corporate ratings at Fitch Chile, Fitch Bolivia, Fitch Argentine and Apoyo & Asociados Internacionales (a Fitch affiliate in Peru).

Josseline has a Bachelor of Economics from the Universidad del Pacifico, Lima-Peru.

Trung Nguyen

Senior Credit Analyst

Trung is responsible for covering high yield companies in the South East Asian region, with a focus on Indonesia and the Philippines. He joined Lucror in 2013 from ST Asset Management, a credit investment arm of Temasek Holdings, where he spent over six years in investment research and portfolio management with a focus on high yield, structured credit and leveraged finance.

Trung holds a Master in Financial Engineering from Nanyang Technological University, Singapore and Certificate in Computational Finance from Carnegie Mellon University. He is a Chartered Financial Analyst (CFA) and a Financial Risk Manager (FRM) charter-holder.

Peter Low

Credit Analyst

Prior to joining Lucror in 2013, Peter was an external auditor with KPMG for three years where he covered companies in various sectors including manufacturing, trading and investment holdings.

Peter holds a Bachelor of Accountancy degree from Nanyang Technological University, Singapore.

Chuanyi Zhou

Credit Analyst

Chuanyi assists with coverage of Chinese high yield companies, with a focus on the property and construction materials sectors. Prior to joining Lucror, she was an analyst with Wells Fargo Investor Services for four years, where she assisted clients with investor relations. Previously, Chuanyi undertook research at SMU on development and poverty reduction in China and completed an internship at Bosera Asset Management Co. in Shenzhen.

A native of Guizhou, China, Chuanyi holds a Bachelor of Business Management from Singapore Management University and a Certificate of International Business from Ecole superieure de Commerce de Grenoble. She is a CFA Charterholder.

Si Yong Ng

Credit Analyst

Prior to joining Lucror in 2015, Si Yong was an Investment Associate at Cambridge Associates, where he covered real asset (private equity energy, real estate and infrastructure) fund managers in Asia Pacific. In his role, Si Yong researched and analysed real estate markets across regions and conducted due diligence to identify opportunities for clients.

Si Yong holds a Bachelor of Accountancy and a Bachelor of Business Management from Singapore Management University.

Leonard Law

Credit Analyst

Based in Singapore, Leonard covers a portfolio of Chinese high yield corporates with a focus on property and industrial sectors. Prior to joining Lucror in 2017, he was an Associate Analyst with Moody’s Investors Service for three years, where he was responsible for credit analysis and research for a portfolio of South and Southeast Asian corporates. Previously, Leonard spent two years in ANZ Banking Group’s graduate program, where he held a number of roles, including credit risk.

Leonard holds a Bachelor of Business Administration from the National University of Singapore.  

Eu Chiong Ng

Research Editor

Eu Chiong is responsible for ensuring the editorial quality of Lucror’s high yield research. He has held various editorial roles over the past decade, and was a sub-editor at Singapore Press Holdings for five years before joining Lucror.

Eu Chiong holds a degree in Communication and Media Management from University of South Australia.

Pei Yun Chia

Associate Editor

Prior to joining Lucror as an Associate Editor in Oct 2017, Pei Yun majored in Literature at Yale-NUS College. There, she also studied Latin and modern and classical Chinese, completing her senior thesis on a piece of Latin poetry from c. 15 AD. Pei Yun is fluent in English, Malay and Chinese.

Pei Yun is a native of Kuala Lumpur, Malaysia, and holds a Bachelor of Arts from the National University of Singapore.

Panos Paraskevopoulos

Head of Sales & Strategy

A founding member of Lucror Analytics, Panos has been responsible for establishing and developing Lucror’s presence within the financial community. He leads the company’s global sales efforts and is responsible for planning and executing strategic growth initiatives for Lucror. Panos has significant financial sector sales experience, most recently as an Equity Sales Trader with NBG in London and for four years as a sales account manager for Thomson Reuters in Athens and Geneva, where he moved after a two-year stint as an FX dealer. Throughout his career, Panos has been actively involved in key operational and business restructurings across geographies.

Panos holds a Bachelors degree in Financial Economics from Kingston University and a Masters degree in Finance from Imperial College, London.

Stefan Tzschentke

Senior Administrator & Compliance Officer

Stefan joined Lucror Analytics shortly after the company's launch in 2010. Prior to joining Lucror, he worked for various entrepreneurial ventures in Canada and Germany as a Marketing Manager specializing in Online Marketing and Search Engine Optimization. He started his career with a brief stint at the Unicredit Group (formerly Hypo-Vereinsbank) in Germany focusing on high yield research. Stefan is fluent in German, Spanish and English.

Stefan holds a degree in Business Administration from The University of Bayreuth and is a Certified Compliance Professional.

Dafydd Morriss

Sales and Marketing Consultant

Since 2014, Dafydd has worked as a marketing & sales consultant for Lucror Analytics, developing the firm’s client base in Europe and North America. Prior to commencing work at Lucror, he held various posts marketing information and technology services into the global financial services industry, notably with CapitalStructure, a newswire focussing on leveraged finance and distressed debt, as well as Markit.

Dafydd holds a Bachelor’s degree in Politics from Nottingham Trent University.

Trace Salzano

Sales and Marketing Consultant

Trace joined Lucror in 2017 as a sales and marketing consultant and is responsible for business development in North and South America.  Prior to joining Lucror, Trace gained significant financial sales experience, most recently at FIS Global and previously at CreditSights for eleven years. She also worked on High Yield trading desks in the US and Europe. 

Trace holds a Bachelor’s degree in Economics from Texas A&M University.