Paul Sankey, whose oil-industry forecasts earned him the top ranking the past three years in Institutional Investor’s survey, joined Wolfe Research LLC after quitting his senior oil-analyst job at Deutsche Bank AG. (DBK)
Sankey will serve as a managing director and lead Wolfe’s new energy-sector research team, Wolfe said in an e-mailed statement today. His initial focus will be on major oil producers and U.S. refiners before expanding into exploration and production, and oilfield services.
Sankey, a former International Energy Agency researcher and Wood Mackenzie Ltd. analyst, leaves Deutsche Bank after a 13-year career as the Frankfurt-based firm exits commodity trading in everything from energy to agriculture to base metals. The world’s biggest financial firms have been cutting back exposure to commodities amid collapsing investor demand.
“Wolfe offers a dynamic, flexible, and highly focused platform that will allow us to cover the challenges and opportunities of the next decade,” Sankey said in the statement. “We intend to produce timely, mega-theme oriented research, pursue an ‘analyst-as-activist’ orientation as regards to corporate work, and provide a high degree of client interaction.”
Sankey and his team at Wolfe plan to release their initial report in March, according to the statement.
“Paul’s profound knowledge of the many factors shaping the global oil industry make him a unique analyst,” Ed Wolfe, the former Bear Stearns transportation analyst who founded the eponymous firm in 2008, said in the statement. “He is capable of forming a thesis early -- often counter to consensus -- and he is then able to convey it to institutional investors in a concrete and actionable format.”
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