Paris, 9 January 2020

Kepler Cheuvreux, a pioneer in ESG Research, a PRI signatory since 2008, and top 3 ranked in Extel over the last 5 years, is pleased to announce the promotion of Josep Pujal as new co-head of ESG research along with Sudip Hazra. Josep will address the challenge of integrating ESG criteria into traditional equity research. In our mission of valuing stocks and advising investors, Kepler Cheuvreux’s conviction is that the output of financial models and equity fair values must take into account the ESG status and trajectory of companies. Josep will join a team of four senior analysts specialised in climate change, social and reputational issues and corporate governance.

Josep Pujal has been a financial analyst for 20 years, covering the construction, building materials and concessions sectors at Exane BNP Paribas from 2000-05. He joined Kepler Cheuvreux in 2006 as head of construction and building materials research and has been regularly ranked among the top ten in the Extel surveys (number 5 in 2018).

Josep has a BA and an MBA from ESADE in Barcelona and a CEMS Master’s degree from HEC (France). He started his career in 1996 at Inspection generale from Société Générale. His affinity for environmental issues and his long experience as a financial analyst in industrial sectors should be of great help to reinforce Kepler Cheuvreux’s ESG team and to promote the convergence between ESG and “traditional” fundamental analysis.

Sudip Hazra joined Kepler Cheuvreux in 2011 as a Senior ESG Analyst and was promoted to Head of ESG Research in 2016. His focus is on broad ESG thematics and includes Social & Business Ethics. His thematic reports are regularly shortlisted for the City of London Farsight awards and his study “Tax me if you can: Game over” won the 2015 prize for best long-term oriented investment research. Previously at Bloomberg in London, he worked with the team that launched ESG functionality on the Bloomberg terminal globally. Prior to this, Sudip worked for Arthur Andersen, 3M and Henkel. He has a BA from Oxford University and an MA from QMUL.

About Kepler Cheuvreux Research

Kepler Cheuvreux Research is the largest “Made in Europe Independent Investment Research Provider”, with 100 analysts covering c. 1,000 stocks. With 11 research offices across the continent and the UK, we offer a unique mix of local and sector expertise. Our European coverage is complemented internationally by partnerships with Piper Sandler in the US, CIBC in Canada and Macquarie in Asia-Pacific.

About Kepler Cheuvreux

The group employs a staff of around 600 and is present in 13 major financial centres in Europe and the US: Amsterdam, Brussels, Frankfurt, Geneva, London, Madrid, Milan, New York, Oslo, Paris, Stockholm, Vienna and Zurich.

Kepler Cheuvreux is a leading, independent European financial services company that specialises in research, execution, advisory and asset management services.

Key facts and figures about the group:

> 1st independent European equity broker
> EUR1bn of equities traded daily on average
> Leader in equity research coverage in Continental Europe
> Second-best broker for research in Europe (Extel 2019)
> 13 major financial centres in Europe and the US
> 600 employees