Our analysts are recognised leaders in their field, with industry experience, deep relationships, and a lifelong commitment to their research sectors.
Richard Kramer
Senior Analyst
Richard Kramer
Senior Analyst
Richard is the main founder of Arete (formed in 2000), the pioneer of the independent equity research space (prior to the Wall Street scandals of 2001-2003) and is based in London. For over 20 years he has focused on the wider mobile internet space, including smartphones, digital consumer products, advertising technology and other internet services. He is a frequent and highly rated speaker at industry conferences, known for his frank dissection of industry hype and willingness to offer critical as well as positive comments on leading tech companies. Prior to founding Arete, Richard was for four years #1 ranked technology analyst in Europe at Goldman Sachs, and prior to that, worked for Nortel and at a prestigious Columbia University economics think tank.
Email: richard.kramer@arete.net
Phone: +44 (0)20 7959 1303 Coverage
Bio
Adam Shepherd
Senior Analyst
Adam Shepherd
Senior Analyst
Adam is responsible for Arete's Software & IT services coverage with ~25 years industry experience both as an analyst and as a technology consultant (systems integration). Leads a five person team that has created an extensive network of CIOs, CISOs and reseller contacts. Typically have >150 direct CIO/CISO interactions each year, predominantly with Fortune 2000 enterprises. This gives Adam and the team extensive insight into software vendor performance, opportunity and competitive dynamics. Feedback is shared directly with clients via the CIO Series and embedded into company specific research. The CIO conversations span a broad range of private and listed companies giving the team a perspective well beyond its formal coverage in enterprise software. He joined Arete in 2009 and is based in London. Prior to Arete, Adam spent nine years as an analyst at Dresdner Kleinwort and BNP Paribas, specialising in European software and IT services. Before this, he worked five years in technology consulting at PA Consulting Group, developing systems across a number of infrastructure and application platforms.
Email: adam.shepherd@arete.net
Phone: +44 (0)20 7959 1311 Coverage
Bio
Andrew Beale
Senior Analyst
Andrew Beale
Senior Analyst
Andrew joined Arete in 2003 and is based in the firm's London office. He focuses on telecoms/cable in US and EU. Prior to Arete, Andrew spent nine years as an analyst at several investment banks including Deutsche Bank and UBS, specialising in wireless and UK/EU telcos. Before this, he spent a year in corporate finance at Bankers Trust, and five years consulting at PA Consulting Group to telecoms and CATV operators, banks, regulators and customers.
Email: andrew.beale@arete.net
Phone: +44 (0)20 7959 1316 Coverage
Bio
Jim Fontanelli
Senior Analyst
Jim Fontanelli
Senior Analyst
Jim is a co-founder of Arete (formed in 2000) and is based in the firm's London office. He covered semiconductors before focusing on renewables from 2008 and returned to the semiconductor space in 2015. Prior to Arete, Jim spent six years with Morgan Grenfell Asset Management, managing pan-European institutional funds, with responsibility for the technology sector investments of European equity funds totalling Euro 30bn. Before this, Jim spent two years working as a credit analyst at Royal Bank of Canada.
Email: jim.fontanelli@arete.net
Phone: +44 (0)20 7959 1312 Coverage
Bio
Louis Lardenois
Senior Analyst
Louis Lardenois
Senior Analyst
Louis joined Arete in 2016 and is based in the firm's London office. Louis is part of the Software team. Prior to joining Arete, Louis did an internship at Egerton Capital as an Equity Analyst. Louis is a graduate of the Panthéon-Assas University, with a MSc in Banking and Finance.
Email: louis.lardenois@arete.net
Phone: +44 (0)20 7959 1322 Coverage
Bio
Nam Hyung Kim
Senior Analyst
Nam Hyung Kim
Senior Analyst
Nam joined Arete in 2009 and is based in the firm's US office. Nam focuses on global memory, display, PC and battery sectors, working with Brett and Jim. Prior to Arete, Nam spent nine years with IHS (formerly iSuppli), and led IHS memory research team to become one of the highest respected research groups in the industry. Before IHS, Nam was a product engineer in technical marketing and sales at SK Hynix Semiconductor and served as logistics manager for the IBM and Sun Microsystems Worldwide accounts. Nam earned his MBA at Carnegie Mellon University. He is a CFA charter holder and is FINRA Series 7, 24, 86, and 87 registered.
Email: nam.kim@arete.net
Phone: +1 424 228 7914 Coverage
Bio
Rocco Strauss
Senior Analyst
Rocco Strauss
Senior Analyst
Rocco joined Arete in 2014 and is based in the firm's London office. Rocco is part of the internet and ad-tech team. Prior to joining Arete, Rocco worked at HSBC as an equity research analyst, with a strategy and quant focus, and for UBS in small and mid-cap research. Rocco is a graduate of the Darmstadt University of Applied Sciences, with a BSc in Business Administration.
Email: rocco.strauss@arete.net
Phone: +44 (0)20 3934 0019 Coverage
Bio
Alex Pound
Analyst
Alex Pound
Analyst
Alex joined Arete in 2021 and is based in the firm's London office. He is part of the telcos, cable & media team. Prior to joining Arete, Alex worked for three years at Ruffer Investment Management as an Investment Associate. Alex graduated from Durham University with a BA in Economics.
Email: alex.pound@arete.net
Phone: +44 (0)20 7959 1307 Coverage
Bio
David Mak
Analyst
David Mak
Analyst
David joined Arete in 2021 and is based in the firm's London office, working as part of the Internet Research team. Prior to joining Arete, David worked at Liberum and Deutsche Bank. David graduated from The London School of Economics (LSE) with a BSc in Economics and is a CFA Charterholder.
Email: david.mak@arete.net
Phone: +44 (0)20 7959 1304 Coverage
Bio
Ellie Kearney
Analyst
Ellie Kearney
Analyst
Ellie joined Arete in 2021 and is based in the firm's London office. She is part of the Software research team, focusing on Cyber Security, working with Adam, Louis and Lucy. Prior to joining Arete, Ellie worked at the commercial real estate firm Telereal Trillium as a Business Modelling Analyst. Ellie graduated from the University of Oxford with a BA in Chemistry.
Email: ellie.kearney@arete.net
Phone: +44 (0)20 7959 1324 Coverage
Bio
Alexi De Unger
Analyst
Alexi De Unger
Analyst
Alexi joined Arete in 2023 and is based in the firm's London office. He is part of the Semiconductor's research team, working with Jim and Nam. Alexi graduated from the University of Exeter with a BSc in Economics with Politics.
Email: alexi@arete.net
Phone: +44 (0)20 7959 1318 Coverage
Bio
Elisha Simonetti
Analyst
Elisha Simonetti
Analyst
Elisha joined Arete in 2021 and is based in the firm's London office. He is part of the software team, working with Adam, Louis, Ellie and Lucy. Prior to joining Arete, Elisha interned at a private equity company. Elisha graduated from the University of Nottingham with a BSc in Economics.
Email: elisha.simonetti@arete.net
Phone: +44 (0)20 7959 1310 Coverage
Bio
Ernest Connan
Analyst
Ernest Connan
Analyst
Ernest joined Arete in 2024 and is based in Cape Town. He is part of the Semiconductor's team working closely with Jim & Janco. Ernest graduated from the University of Stellenbosch with a bachelor's degree in Management Sciences, with a focal area in Financial Management.
Email: ernest.connan@arete.net
Phone: +44 (0)20 7959 1300 Coverage
Bio
Frederik Strauss
Analyst
Frederik Strauss
Analyst
Frederik joined Arete in 2025 and is based in Cape Town. He is part of the Telecommunications & Media team working with Andrew, Alex and Pierre-Marie. He holds a bachelors degree in financial planning as well as a B.com Hons degree in Financial Management from the University of South Africa.
Email: frederik.strauss@arete.net
Phone: +44 (0)20 7959 1300 Coverage
Bio
Janco Venter
Analyst
Janco Venter
Analyst
Janco joined Arete in 2023 and is based in Cape Town. He is part of the Semiconductor's research team, working with Jim and Nam. Janco graduated from the University of Stellenbosch with a bachelors degree in Investment Management, and continued to get his dual MSc and Master in Finance and Investments from the London School of Business and Finance.
Email: janco.venter@arete.net
Phone: +44 (0)20 7959 1326 Coverage
Bio
Oliver Lester
Analyst
Oliver Lester
Analyst
Oliver joined Arete in 2022 and is based in the firm's London office, working as part of the Internet Research team. Prior to joining Arete, Oliver worked at PwC, where he qualified as a chartered accountant (ACA). Oliver graduated from the University of Warwick with a BSc in Economics.
Email: oliver.lester@arete.net
Phone: +44 (0)20 7959 1305 Coverage
Bio
Pierre-Marie D'Ornano
Analyst
Pierre-Marie D'Ornano
Analyst
Pierre-Marie joined Arete in 2022 and is based in the firm's London office. He is part of the Telecommunications & Media team, working with Alex and Andrew. Prior to joining Arete, Pierre-Marie worked at Groupama Asset Management as an Equity Analyst. He graduated from UCL with a BSc in Economics & Geography and London Business School with an MSc in Management.
Email: p.dornano@arete.net
Phone: +44 (0)20 7959 1319 Coverage
Bio
Shawn Yang
Analyst
Shawn Yang
Analyst
Shawn Yang has extensive experience in the internet industry and investment banking. Shawn joined Arete in 2023. Before that, he covered China and Asian internet sector at Blue Lotus Research Institute for eight years. Shawn has been frequently interviewed by financial medias like Bloomberg, WSJ, and CNBC. Prior to that, Shawn served as the director of strategy for China Mobile Games and Entertainment Group, and product coordinator of Riot Games. Shawn also has worked for HSBC Asset Management and Goldman Sachs. Shawn graduated from Tsinghua University with a bachelor's degree and received his master's degree from the Hong Kong University of Science and Technology.
Email: shawn.yang@arete.net
Phone: +852 2541 5550 Coverage
Bio
Chris Bishop
Head of European Equity Sales