Analyst Profiles

Providing research and insight to individual and institutional investors, the Raymond James Canadian Research Team consists of 17 equity analysts who cover approximately 250 companies in nine key sectors.


Daryl Swetlishoff, CFA
Senior Managing Director, Head of Raymond James Ltd. Equity Research

Daryl Swetlishoff was named Head of Research of Raymond James Canada in May 2007. He is also an analyst covering the forest products sector since joining the firm in 2001. For the past eight years, Brendan Wood International has recognized Mr. Swetlishoff as the top‐ranked analyst in the space. He holds the Chartered Financial Analyst designation and earned an MA (economics) from the University of Victoria (1994).

Contact Daryl:


Frederic Bastien, CFA
Managing Director, Equity Research Analyst
Infrastructure & Construction

Frederic Bastien joined Raymond James Ltd. in 2003. Frederic primarily focuses on the infrastructure and construction sector, but recently expanded his coverage universe to include power and utility stocks. He is a well-respected analyst, achieving Brendan Wood International’s annual TopGun status on a consistent basis. Frederic holds an MBA from the Sauder School of Business at the University of British Columbia, a bachelor's degree in mechanical engineering from McGill University, and the Chartered Financial Analyst designation.

Contact Frederic:


Stephen Boland, CFA
Managing Director, Equity Research Analyst
Diversified Financials

Stephen Boland joined Raymond James in April 2020, and covers the Diversified Financials sector. Stephen has covered the sector for 20 years at a large independent broker and at a bank owned dealer. He has covered a wide range of financials including banks, non-bank lenders, insurers and asset managers. Previous to his career in research he worked at Manulife Financial in the Treasury department focusing on rating agency relationships and was part of the demutualization/IPO process. Stephen was a Brendan Woods ranked analyst and a former top stock picker with Starmine. Stephen is a CFA charterholder and has a B.Comm from Ryerson University.

Contact Stephen:


Bryan Fast, CFA
Equity Research Analyst
Infrastructure & Construction

Bryan Fast joined Raymond James in 2016 as a research associate covering the Forest Products, and Power & Utilities sectors. In 2020, he was promoted to Analyst, covering the Industrials sector. Prior to joining the firm Bryan worked at a global investment bank in equity research focused on International E&P and for several large cap energy producers. Bryan holds the CFA designation and a Bachelor of Business Administration from University of British Columbia – Okanagan (Co-conferred).

Contact Bryan:


Michael Glen, CFA
Equity Research Analyst
Consumer & Diversified Industrials

Michael joined Raymond James Ltd. In 2019 as an Equity Analyst covering Canadian consumer and diversified industrial stocks. He has close to 15 years of Capital Markets experience, working most recently with a large global investment bank (Macquarie Group) covering Canadian equities. Michael is a CFA charterholder, and holds an MBA from McGill University and a Bachelor of Science from the University of Toronto.

Contact Michael:


Farooq Hamed
Director, Equity Research Analyst
Metals & Mining

Farooq Hamed joined Raymond James Ltd. in 2017 as an equity analyst covering the mining sector. Prior to joining Raymond James, Farooq spent 11 years in equity research covering gold, base metals, diamond, fertilizer and agricultural companies at both global and Canadian banks. Before becoming an analyst, Farooq worked in consulting with Deloitte & Touche. Farooq is a CA and holds a Bachelor of Science degree from the University of Toronto and a master of management and professional accounting degree from the Rotman School of Management at the University of Toronto.

Contact Farooq:


Steve Hansen, CFA, CMA
Managing Director, Equity Research Analyst
Transportation, Chemicals & Fertilizers

Steve Hansen joined Raymond James Ltd. in October 2005, and covers the transportation, chemicals, and agribusiness industries. In 2011, he was ranked as the number one stockpicker for his industry by StarMine, and in the same year, he achieved TopGun status with Brendan Wood. Prior to joining the firm, Mr. Hansen was employed as a stock analyst with Morningstar covering the paper & forest products sector. Mr. Hansen holds an MBA from the Richard Ivey School of Business and a bachelor of science in forestry from the University of British Columbia. Mr. Hansen also holds his CMA designation and has the Chartered Financial Analyst designation.

Contact Steven:


Steven Li, CFA, CMA
Director, Equity Research Analyst

Steven Li concentrates his research efforts on the technology sector (hardware, services and software). Steven joined the firm in July 2001 as an equity analyst. Steven has been recognized three times (2009, 2010, 2011) by Brendan Woods as a TopGun analyst within the technology sector and twice by StarMine as a top stock picker in IT equipment (2009, 2013). Steven holds the Chartered Financial Analyst designation and earned a B.A. and M.A. from the University of Cambridge (England) and an MBA from York University.

Contact Steven:


Brian MacArthur, CFA
Managing Director, Head of Mining Research
Basic Materials

Brian joined Raymond James Ltd. in 2017 as an equity analyst covering the mining sector. Prior to joining Raymond James, Brian spent 26 years as an analyst covering base metals, gold, uranium, coal, fertilizer, aluminum, diamond and chemical companies at a global bank. Before becoming an analyst, Brian worked in corporate banking at the Bank of Nova Scotia and as geophysicist in the mining and oil and gas industries. Brian is a CFA and holds a Bachelor of Applied Science degree and an MBA from Queen’s University in Kingston, Ontario.

Contact Brian:


Jeremy McCrea
Director, Equity Research Analyst
Oil & Gas

Jeremy joined Raymond James in 2015, as an energy analyst with over 15 years of experience exclusively covering the energy sector, Jeremy has previously held similar positions at AltaCorp Capital and National Bank Financial. Jeremy holds a Bachelor of Commerce degree from the University of Calgary and is a CFA charterholder.

Contact Jeremy:


David Quezada, CFA
Vice President, Equity Research Analyst
Special Situations

David joined Raymond James Ltd. in 2009 as a Research Associate covering the Forest Products sector. In 2016 he was promoted to Equity Analyst, covering the Power and Utilities sector. Prior to joining the firm David spent time working at Vancouver-based investment manager Connor, Clark, & Lunn as well as at HSBC in Commercial Banking. David holds the CFA designation as well as a Bachelor of Business Administration from Simon Fraser University.

Contact David:


Rahul Sarugaser, PhD, MASc, MBA
Managing Director, Equity Research Analyst
Healthcare, Biotechnology & Cannabis

Rahul holds a PhD and MASc in biomedical engineering from the University of Toronto, and an MBA from the University of Oxford. Before joining Raymond James, Rahul was a Healthcare/Biotechnology equities analyst with Paradigm Capital, a boutique investment bank in Toronto. Prior to Paradigm, his roles included Director of Business Development at the Centre for Commercialization of Regenerative Medicine, Investment Manager with the Toronto-based MaRS Investment Accelerator Fund, and Strategic Marketing Analyst with GE Healthcare’s headquarters in the U.K.

Contact Rahul:


Craig Stanley, M.Sc.
Equity Research Analyst
Mining & Metals

Craig joined Raymond James in June 2020 and has over 15 years of corporate, buy- and sell-side experience. Previously he worked as a sell-side analyst at a Toronto-based boutique where he covered companies involved in the production, development, and exploration of precious metals. His corporate experience includes Vice President, Corporate Development of a TSX and NYSE-listed gold and silver producer. His buy-side experience includes Vice President, Research at a publicly-traded fund focused on small cap mining companies and as an analyst at a firm with over $1 billion in mining investments in actively managed mutual funds, exchange-traded closed-end funds and flow-through limited partnerships. Craig has a Master of Science in Geology from The University of Western Ontario.

Contact Craig:


Brad Sturges, CFA
Managing Director, Equity Research Analyst
Real Estate & REITs

Brad is Managing Director and a publishing equity research analyst covering the Canadian Real Estate and REITs sector at Raymond James Ltd. Brad joined the firm in August 2020. He has close to 15 years of sell-side equity research experience, most recently at IA Securities where he established and developed its real estate and REITs franchise over a five year period starting in 2015. Brad also spent close to 9 years from 2006 to 2015 as part of the Canadian real estate and REITs equity research team at CIBC World Markets. In the past few years, Brad has received recognition through high Starmine rankings for stock picking in REITs and real estate for Canada. He holds a Bachelor degree in Honours Business Administration from Wilfrid Laurier University in Waterloo, ON and is a CFA charter holder. 

Contact Brad:

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