Shane Smith (Group Chairman and CEO), 44
Shane began a career in European equity research in 1986 at stockbroker Williams de Broe in London and subsequently joined the early team behind Bloomberg in London, working on the first Bloomberg bond trading system (at Merrill Lynch). In 1992 he established his own practice focused on global currencies, and then in 1996 founded Pronet Analytics.com, which became a regulated investment advisor. He led the company (which subsequently became Independent International Investment Research PLC) through admission to London Stock Exchange (AIM) in 2000 and is the architect of the current equity research product line, which was launched in 2004. Shane is responsible for bringing on the firm’s major clients (Merrill Lynch, Morgan Stanley, Lehman, Credit Suisse, UBS, Deutsche Bank, Bear Stearns).

Shane holds a BA Honours Degree (Econ.) from University of Sussex, UK.

Shane.smith@iirgroup.com
Satish Betadpur, CFA (CEO, Asia; Head of Research), 45
Satish holds dual US-Indian nationality and re-located from San Francisco to take up his position based in Mumbai. A financial services career over 21 years was split between New York and California, where his most recent positions have been as Chief Investment Officer and Managing Director, Equity Research. His experience spans fixed income and international equities, in a number of senior and very accomplished roles, most recently as head of a $120mn hedge fund and responsible for a team of 76 staff. He was formerly a Managing Director, Equity Research, at the Teachers Insurance Annuity Association – College Retirement Equities Fund, in New York and has also worked for American Express Company, New York, and Motorola, Urbana Illinois.

In addition to his substantial commercial experience, Satish also taught at the University of Missouri and at Columbus University, NY.

Satish holds an MS in Computer Science, an MS in Mechanical Engineering, and an MBA from University of Illinois. He is a Chartered Financial Analyst, qualifying in 1995.
David Ledsham (Group Finance Director), 53
David qualified as a chartered accountant with Arthur Andersen in 1980 and after several years working as a financial controller in the oil industry, both in the UK and the Far East, he joined Price Waterhouse in 1986 as a management consultant where he undertook a number of high profile assignments in the banking, pharmaceutical and utility sectors. He left Price Waterhouse in 1994 and played a leading role in the establishment and development of EBS into the world’s leading electronic FX broking service. He was global CFO for EBS from 1994 until 2000. After leaving EBS, David became CFO for Cognotec, another global FX service provider and subsequent to this he has been heavily involved in a number of initiatives in the sustainable agricultural sector. He joined Independent International Investment Research plc in January 2007.

David holds a PhD in solid-state physics from London University.

David.ledsham@iirgroup.com
Albert Maasland (Non-Executive Director), 50
Albert is Global Head of Business Development and Global Markets eCommerce, at a major international bank based in London. Albert is responsible for identifying and developing new business opportunities in the field of eCommerce as well as strategic partnerships. His expertise in strategic business development and marketing in the FX and Financial Markets industry and Board level experience in the field of eCommerce has played a role in the development of some of the strongest participants in the Global Markets industry. Over the past 20 years Albert has held senior management roles including Global Head of Marketing for Wholesale and Investment Banking at Deutsche Bank, Head of FX for Europe at Deutsche Bank, Head of Business Development, Global Markets at HSBC and Head of FX Sales at Chase Manhattan after holding various senior sales and product management roles primarily in the transaction banking businesses.
Karen Griffith (Director, Head of Currency Research), 39
Karen teamed with the Group’s CEO in 1992 to set up the firm which has become Independent International Investment Research PLC. With some 13 years of experience in providing technical analysis services to professional and institutional clients, Karen is amongst the most seasoned of technical commentators in the City and is widely followed. Karen is both a main board director of the publicly traded company, and Director responsible for FX Strategy at Pronet.

Michael Mayhew (Advisor to the Board)

Mike graduated from Stanford University in 1981 and began his career as an economist with MMS International in 1982. He continued through Standard and Poor’s Financial Information Services Group before a five-year tenure as CEO and President of Garban Information Systems. Mike founded Integrity Research Associates LLC in 2000 and has built the firm into the leading consultancy in the fast-changing research space, frequently cited in relevant media such as Reuters, Investment Dealers Digest, Institutional Investor Magazine, Bloomberg News, Forbes, the Wall Street Journal, the New York Times, the Financial Times, and Business Week.

Mike is currently a member of the Board of Directors of Investorside, the non-profit trade organization for the independent research community and joins the Group’s Advisory Board on behalf of Integrity, with special responsibility for product development and US market strategy and acquisitions.
Other key members
London

IIR’s sales, marketing and editorial functions are located at our London office. IIR’s editorial team comprise 7 professionals.

Vinh Cam (Group Chief Operating Officer)
Vinh joined IIR to establish the Editorial function in London. Vinh also help set-up IIR’s Indian subsidiary in Mumbai and is now responsible for the Group’s operations as well as heading up the marketing function. Previously, Vinh’s career after graduating from Cambridge has been spent at leading advertising agencies in London – St. Luke’s and Leagas Delaney – where his responsibilities included brand and strategic planning for San Miguel, Adidas, Lycos and Goodyear.

Vinh holds an MA. (Hons) from Cambridge University

Heloise Capon (Head of Editorial)
Heloise joined IIR as an Editor in 2005, taking up coverage of the banking, insurance and semiconductor sectors and now manages the editorial team in London. Heloise previously worked as an Accounts Manager.

Heloise holds a BA (First Class) in International Relations from the University of Sussex

Daniel Gill (Senior Editor and Project Manager)
Daniel joined IIR in 2005 after completing a PhD in the synthesis of novel flurophores at the University of Leeds. Utilising his academic background in Chemistry, Daniel’s editorial coverage focuses on the Energy and Chemicals sectors, as well as the Transport and Software sectors. Daniel is also responsible for IT and technology in London and leads special projects.

Dan holds a BSc (Hons) and PhD in Chemistry from the University of Leeds

Adil Bahar (Senior Editor)
Before joining IIR Group PLC, Adil worked as a post-doctoral research fellow at Keele University, where he conducted research into identifying novel genes associated with cancer. Adil’s academic background in allows him to focus on coverage of the pharmaceutical sector, as well as automotive manufacturers and consumer electronics.
Adil holds an MSc from Brunel University and BSc (Hons) from London South Bank University and a PhD from Keele University
India

IIR’s analytical function is carried out by a team of 60 analysts based at our Mumbai office. Our team of analysts all hold a minimum MBA/CA or equivalent.

Ritwik Bhattacharjee (Joint Country Manager, India)
Ritwik started his equity research career at a leading research outsourcing firm in Mumbai focusing on consumer goods, retail and business services sectors and quickly moved into Research Manager role. Ritwik joined IIR’s Indian operation (Independent Research Private Limited) in April 2006 and helped established IIR’s Mumbai operations. His current responsibilities include managing operations, resource and production planning, review of research and ratings, product development and recruitment at the Mumbai site. Previously, after graduating from Calcutta University, Ritwik worked in the non-profit sector for two years, one year as a consultant and one year with micro-finance agency providing credit for micro-enterprises in West Bengal.

Ritwik holds a Bachelor degree in Science in Economics from Scottish Church College, Calcutta University;
Master of Science in Economics with specialization in Econometrics from Calcutta University;
Master of Business Administration with specialization in Finance from IISWBM, Calcutta University.

Somatish Banerji (Joint Country Manager, India)
Somatish started his research career at a leading research outsourcing firm in Mumbai covering technology-related sectors such as consumer electronics and communication equipment and quickly moved into a Research Manager role. Somatish joined IIR’s Indian operation (Independent Research Private Limited) in April 2006 and helped established IIR’s Mumbai operations. His current responsibilities include managing operations, resource and production planning, review of research and ratings, product development and recruitment at the Mumbai site.

Somatish holds a Bachelor degree in Commerce from St. Xaviers’ College, Calcutta University;
Master of Business Administration with specialization in Finance from IISWBM, Calcutta University.

Technical Analysis, Pronet
Karen Griffith heads up IIR’s 4-person technical analysis team.