Analyst Profiles
Providing research and insight to individual and institutional investors, the Raymond James Canadian Research Team consists of 19 equity analysts who cover over 250 companies in seven key sectors. Their work is complemented by our U.S. team of equity, technical, and economic analysts. Our combined efforts bring you coverage of more than 1,500 companies.
Daryl Swetlishoff, CFA
Senior Managing Director, Equity Research
Daryl Swetlishoff was named Head of Research of Raymond James Ltd. (Canada) in 2007. Based in Vancouver, he is responsible for a group of 40 research and publishing professionals, providing equity research coverage on over 250 companies across seven industrial sectors. Daryl is also a ranked analyst covering Forest sector equities since joining the firm in 2001. Daryl holds the Chartered Financial Analyst designation, and earned a Master of Arts, Applied Economics (1995) from the University of Victoria.
Contact Daryl: daryl.swetlishoff@raymondjames.ca
Ken Avalos, MBA
Real Estate & REITs
Ken joined Raymond James Ltd. in October of 2011 as an equity research analyst covering REITs and real estate operating companies. Ken has over 15 years of experience in the investment, lending and real estate industries. He returns to the Raymond James organization after spending the last two years as the Director of Finance and Capital Markets at First Potomac Realty Trust where he was responsible for debt, equity and hedging transactions, investor relations and risk management. First Potomac is a $2 billion office/industrial REIT based in Washington D.C., which doubled in size during Ken's tenure. Prior to First Potomac, Ken held various positions in equity research at Raymond James & Associates in St. Petersburg, FL, most recently holding the title of VP - REIT Analyst while covering nearly 25 stocks. Ken holds a BA from Boston College, and earned an MBA from the Stern School of Business at NYU with a concentration in Finance and international Business.
Contact Ken: ken.avalos@raymondjames.ca
Gary Baschuk
Precious Metals
Gary joined Raymond James in October 2010 as a mining equity research analyst focusing on precious metals small to mid-capital explorers, developers and producers. Prior to joining the investment business seven years ago, Gary spent twenty years as a geologist employed by Barrick Gold Corp. working in northern Ontario, Quebec, Nevada and Spain. Gary holds a BSc, Geology Specialist degree from the University of Toronto and is a Fellow of the Geological Association of Canada, a member of the Society of Economic Geologists and the Prospectors and Developers Association of Canada.
Contact Gary: gary.baschuk@raymondjames.ca
Frederic Bastien, CFA
Industrial Products & Services | Engineering & Construction
Frederic joined the firm in 2003 and was promoted to equity analyst covering the Industrial sector in 2005. Frederic has achieved Brendan Wood International's annual 'Top Gun' status in the Small Cap/Special Situations category since 2008, and in 2009 he ranked as the number one Diversified Industrials Earnings Estimator in StarMine's annual survey of analyst performance for Canada. Educationally, Frederic holds an MBA (2002) from the Sauder School of Business at the University of British Columbia, a Bachelor of Engineering (Mechanical) degree (1995) from McGill University, and the CFA designation.
Contact Fredric: frederic.bastien@raymondjames.ca
Justin Bouchard, P. Eng.
Oil Sands and Oil & Gas Producers
Justin Bouchard joined the firm in September 2006 and covers oil sands and oil and gas producer and exploration companies. For the year prior, Justin was employed as a Research Associate at another investment dealer as part of a group covering oil sands companies and producers. Prior to that, he was employed for ten years in various roles in the energy sector including a Facilities/Production Engineer and Field Operator, and as a Product Manager of specialized oil & gas software products. Educationally, Justin has an MBA from Queens University (2004), a Bachelor of Science degree (Mechanical Engineering) from the University of Alberta (1995) and is a Level 3 CFA candidate.
Contact Justin: justin.bouchard@raymondjames.ca
Andrew Bradford, CFA
Head of Energy Research
Andrew Bradford originally joined Raymond James in an analyst capacity in 2000, and after a brief hiatus, returned to the firm in December 2007. Andrew has been performing investment analysis for investment dealers on the energy sector and the energy services industry since 1998. Prior to that, he spent two years with a Calgary-based energy-focused private equity firm. Andrew earned a Masters degree in Economics from the University of Calgary in 1996 and is a CFA charterholder.
Contact Andrew: andrew.bradford@raymondjames.ca
Ben Cherniavsky, MBA
Head of Industrial Research
Ben Cherniavsky joined the firm as a research associate in 1998 following completion of his MBA degree at the University of Western Ontario. Ben's coverage universe includes companies in both the industrial product and aerospace & aviation sectors. Before his MBA, Ben worked in public finance as a research analyst for the Ministry of Finance in Ottawa and at the University of Toronto's International Centre for Tax Studies. In addition to his MBA, Ben also holds a BA in Economics from the University of Alberta.
Contact Ben: ben.cherniavsky@raymondjames.ca
Steven Hansen, MBA, CFA
Industrial
Steven Hansen joined the firm in October 2005 as an associate equity analyst covering the Industrial sector and was promoted to equity analyst in April 2007. Prior to joining the firm, Steve was employed as a stock analyst with Morningstar covering the forest products sector. Educationally, Steve holds an MBA (2004) from the Ivey School of Business and a Bachelor of Science in Forestry (1999) from the University of British Columbia. Steve also holds his CMA designation and is a CFA Charterholder.
Contact Steven: steven.hansen@raymondjames.ca
Brad Humphrey
Head of Mining Research
Brad Humphrey joined Raymond James Ltd. in April 2008 as a mining equity research analyst, focusing on the gold and silver sector. Brad has nearly 10 years experience in the investment business providing research on gold and silver equities at several major investment dealers. Prior to beginning his career in the investment industry, he worked in various positions in the mining industry, including underground mining and corporate development.
Contact Brad: brad.humphrey@raymondjames.ca
Rafi Khouri, B.Sc., MBA
International Oil & Gas
Rafi Khouri is an oil & gas equity analyst at Raymond James Ltd, focusing on the International oil & gas sector. Prior to joining the firm, he worked as an oil and gas analyst at two other investment dealers, including a year with a top tier investment dealer in London (UK). Rafi has also spent 10 years in various technical and managerial roles in the oil & gas industry, including 4 years as a field engineer with Exxon in the Middle East, and one year as a corrosion engineer with Total in West Africa. Rafi holds a B.Sc. in Applied Chemistry from the American University of Beirut and an MBA from the University of Alberta.
Contact Rafi: rafi.khouri@raymondjames.ca
Steven Li, CFA
Technology & Clean Tech
Steven Li joined the firm in July 2001 as an equity analyst. Before joining Raymond James Ltd., Steven spent a total of four years as a research associate at three other investment dealers. In StarMine's annual survey of analyst performance for Canada, Steven was the number one Stock Picker for Software and IT Services in 2007. He also ranked 8th in the Top 10 Overall Stock Pickers of 2009 for his coverage of IT Equipment, Software, and IT Services. Steven holds the Chartered Financial Analyst designation and earned a BA and MA from the University of Cambridge (England) and an MBA from York University.
Contact Steven: steven.li@raymondjames.ca
Adam Low, CFA
Base Metals & Minerals
Adam Low joined the firm in April 2005. He is part of the equity research team covering base metal producers and developers. Prior to joining the firm, Adam was employed as a financial analyst with IBM. Educationally, Adam has a Bachelor of Commerce degree from the University of Manitoba (2002) and holds the Chartered Financial Analyst designation.
Contact Adam: adam.low@raymondjames.ca
Luc Mageau, CFA
Oil & Gas Producers
Luc Mageau joined the firm in March 2006. He was promoted to equity analyst in May 2009 and is responsible for covering junior and intermediate oil and gas producers. Prior to joining the firm, Luc was employed as a commercial lender at a major bank and as a research analyst at a US based equity research firm. Educationally, Luc has a Bachelor of Commerce degree from the University of Alberta (2001) and holds the Chartered Financial Analyst designation.
Contact Luc: luc.mageau@raymondjames.ca
Alex Terentiew, MBA, P.Geo.
Base Metals & Minerals
Alex joined Raymond James in November 2011 as a mining equity research analyst focusing on base metals, both producers and developers. Over the past six years, Alex has provided research coverage of base and precious metals and mining equities in similar roles at Credit Suisse Securities (Canada) and Scotia Capital Inc. Prior to joining the investment industry, Alex worked as a Geoscientist at various environmental and engineering consulting companies. Alex holds a BSc from the Dept. of Geology at the University of Toronto, a MASc in Civil Engineering (U of T), and an MBA (Rotman School of Management at the U of T), is a member of the Association of Professional Geoscientist of Ontario, The Canadian Institute of Mining, Metallurgy and Petroleum (CIM), and the Prospectors and Developers Association of Canada.
Contact Alex: alex.terentiew@raymondjames.ca
Kenric Tyghe, MBA
Consumer Products & Retail
Kenric Tyghe joined the firm in July 2009 as an Equity Analyst covering Consumer Products and Retail. Prior to joining the firm Kenric had in excess of 8 years experience in equity research and trading, at other leading investment dealers in Canada and South Africa. Kenric holds an MBA from the Richard Ivey School of Business.
Contact Kenric: kenric.tyghe@raymondjames.ca
Kristopher Zack, CA, CFA
Oil & Gas Producers
Kristopher Zack joined the firm as an equity analyst in April 2006 and is now covering senior / intermediate oil & gas companies. For 2.5 years prior to joining the firm, Kris was employed as an associate analyst at another investment dealer covering integrated oil and gas, senior producers, and oil sands companies. Prior to that, he was employed for six years with Deloitte & Touche and finished as a Manager, Financial Advisory Services. In StarMine's 2009 annual survey of analyst performance for Canada, Kris was the number one Earnings Estimator for Oil & Gas Royalty Trusts and he was the Starmine Top Stockpicker in the Oil & Gas Royalty Trust space for 2010. Educationally, Kris has a Bachelor of Commerce degree from the University of Alberta (1998) and holds the Chartered Accountant and Chartered Financial Analyst designations.
Contact Kristopher: kristopher.zack@raymondjames.ca
US Analysts
Our clients have access to the equity research produced by our US colleagues who combine to provide coverage on over 600 companies.
Visit the Raymond James US Equity Capital Markets website