About Us > Management Team
Kurt Cerulli - Principal

Kurt is the founder of Cerulli Associates and the publisher of The Cerulli Report™ and The Cerulli Edge™ series.  

He previously held positions at Fidelity Investments and New York Life Insurance Company, and began his career as a securities tax lawyer with Coopers & Lybrand in New York.

A graduate of Colby College, Kurt holds degrees from Boston University in business and law and from New York University in accounting.

He is the father of four daughters, an experienced marathon runner, and struggles mightily to play the piano.

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Andrew Guillette - Chief Operating Officer

Andrew is responsible for research, product development, and product deliverables as well as daily operating issues, including hiring.  He is heavily involved in determining the firm’s strategic direction in the US and abroad.

He started with the firm in 1995, helping to pioneer the tracking of the Managed Accounts business, while also shaping the qualitative and quantitative research process used today across all business lines. More recently, he developed and launched Lodestar, Cerulli’s online analytic platform.

He started his career at Fidelity Investments before leading competitive analysis efforts at John Hancock and research and product development at Colonial (now Columbia).

Andrew is a graduate of The College of the Holy Cross with a B.A. in Economics and also holds an MBA in Finance from Boston College. He lives in Sherborn, MA with his wife and three children.

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Shiv Taneja - Managing Director

Based in London, Shiv is the head of Cerulli’s international research practice covering over 35 markets outside of the United States. Shiv is responsible for managing the international research process with an emphasis on building out the firm’s global line of research.

Shiv has worked with Cerulli since mid-2000, when he joined the firm in London as a consultant/analyst covering international markets. Between 2005 and mid-2008, Shiv was based in Singapore where he set up the firm’s Asia Pacific operations.

Before joining Cerulli, Shiv worked with the fund services unit of Standard & Poor’s in London. He holds a master’s degree in commerce (development finance) and a bachelor’s degree in commerce (accounting and finance), both from the University of Bombay.

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About Us > Research and Analysis
Scott Smith - Director

Scott leads Cerulli's research efforts focused on investor behavior and advisory relationships.  Prior to his current role, he led Cerulli's research efforts in the intermediary practice and was the lead author of Financial Planning: Trends in Advice Delivery  and Advisor Migration: The Changing Landscape of Retail Distribution.

Scott has more than 17 years of financial services industry experience, with particular concentrations in product development and management. Prior to joining Cerulli Associates, Scott was an Associate Vice President of Product Development at MFS Fund Distributors. His responsibilities included product development and management of retirement and education savings programs and working with senior management to target strategic opportunities created by changes in the competitive and regulatory environments. Previously, he held a variety of roles at Putnam Investments, with a focus on individual and corporate retirement planning.

Scott received his B.A. from The Johns Hopkins University in Economics and his MBA with a focus on marketing from Bryant University.

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Bing Waldert - Director

Bing is responsible for Cerulli Associates’ intermediary distribution initiatives, focusing on distribution and strategic positioning within intermediary channels. He authors research studies for the The Cerulli Report™ series and contributes to The Cerulli Edge™ series. Bing has more than ten years of financial services industry experience.

Prior to joining Cerulli Associates, Bing held a variety of roles at MFS and MFS/Sun Life Financial Distributors. His responsibilities included coordinating distribution company input on Product Development initiatives, training wholesalers and sales desk on products, and working with sales and marketing on product positioning. Previously, he was a financial consultant at Salomon Smith Barney.

Bing received his B.A. from the College of the Holy Cross in Economics and Classics. He has passed NASD Series 7, 24, and 63, and life insurance licensing exams.

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Ken F. Yap, CFA - Director, Global Analytics

Ken F. Yap, CFA, is head of Cerulli’s Asia Pacific research efforts, and is based in Singapore. In addition to his regional role, Ken also oversees Cerulli’s global quantitative research process, working closely with analysts based in Asia, and elsewhere around the world. Ken joined Cerulli in 2001 in London as a global quantitative analyst, and is one of the primary architects of the firm’s flagship international reports, Global Markets. In mid-2003, Ken moved to Cerulli’s headquarters in Boston and was involved with both U.S. and international research. In early 2006, Ken relocated to Singapore.

Prior to joining Cerulli Associates, Ken was a consultant at a UK-based consultancy specializing in the telecommunications industry.

He holds a bachelor's degree in electrical engineering from National University of Singapore and an M.B.A. from Cambridge University.

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Cindy Erickson Zarker - Director

Cindy has 20 years of financial services industry experience that spans marketing, sales, and operations. Cindy is the primary author of the Cerulli Reports™ Asset Management: A Product Strategy Framework and The Subadvisory Marketplace: Metrics for Strategic Assessment and Business Planning. Prior to joining Cerulli Associates, she served as Senior Vice President responsible for Product Strategy and Development at Columbia Management Group (formerly Liberty Funds Group, now Bank of America).

While at CMG, she built and managed the department that conducted all product and pricing research for mutual fund, variable annuity, hedge fund, managed account, and 529 initiatives. Her area led the development process assessing investment capacity, reviewing potential subadvisors, and evaluating legal, operational, and administrative issues launching a number of innovative new products and pricing schemes. Cindy facilitated the governance process that reviewed all proposed product and pricing initiatives for marketability, feasibility, and profitability. She directed several major fund and variable annuity consolidation efforts, including the Galaxy, Columbia, and Liberty product streamlining, repricing, and rebranding effort.

During her tenure at CMG, she also served as an Account Manager, developing and maintaining relationships with key clients. Earlier in her career, she worked at Putnam Investments as a Shareholder Services Representative and as a Broker Operations Specialist.

Cindy earned a B.A. in Economics from Skidmore College. She also studied business and economics at Richmond College in London.

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Matt Andon - Analyst

Matt manages data sets and conducts analyses for Lodestar, Cerulli's new web-based business intelligence platform. 

Prior to joining Cerulli, Matt worked as a Financial Analyst at Encore Redevelopment where he was responsible for projecting cash flows for solar and wind projects as well as researching emerging trends in the renewable energy market. 

Matt graduated cum laude from the University of Vermont with a Bachelor of Science in Business Administration with a concentration in Finance and a minor in Economics.

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Karina Boikova - Analyst

Based in London, Karina produces research for the retail asset management team with a specific focus on European Markets.

Karina has three years of diverse analytics experience. Prior to joining Cerulli Associates, Karina worked at Bloomberg LP as Fixed Income Data Analyst in the Global Data department specializing in EMEA Capital Markets.

Karina earned her BSc (Hons) in International Economics from Plekhanov Russian University of Economics. For the International Students Exchange program, she studied at Singapore Management University.

She is fluent in English, Russian, and Portuguese.
 

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Shu Mei Chua - Senior Analyst

Based in Singapore, Shu Mei is part of Cerulli’s quantitative research group, working closely with the Quantitative Research director. She provides support for numerous Cerulli publications, and assists in generating in-depth analysis of the global asset management industries outside of the United States.

Shu Mei graduated from Singapore Management University with a degree in Economics and double major in Finance.

Before joining Cerulli Associates, Shu Mei held internship positions in the areas of accounting and finance with various multinational firms in Singapore.

Apart from English, Shu Mei is fluent in Mandarin.

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Nina Czarnowski, CFA - Senior Analyst

Based in Boston, Nina leads Cerulli’s research efforts on the Latin America asset management market. She authors research studies for The Cerulli Report™, and also contributes to The Cerulli Edge™—Global Edition

Before joining Cerulli Associates, Nina held roles at Banco do Brasil and Banco Itau in Brazil, and most recently at Fidelity Investments in Boston where she was responsible for Market Strategy and Competitive Intelligence across Fidelity’s distribution channels. She also worked in the Business Strategy and the Pricing teams of Fidelity Institutional.

Nina earned her bachelor’s degree in Business Administration from the Universidade Federal de Mato Grosso do Sul in Brazil, and her graduate certificate in Management, in Extension studies, from Harvard University.

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Laura D'Ippolito - Senior Analyst

Based in London, Laura works as part of the quantitative research group with a specific focus on global and European research. She helps to provide support and quantitative analysis for Cerulli Associates' numerous publications.

Laura graduated from Warwick University with a B.Sc (Hons) degree in Economics, Politics and International Studies.

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Pamela Carello DeBolt - Associate Director

Pamela is responsible for research in all areas that pertain to the retail marketplace, including product strategy, innovation, and development, organizational structures of asset managers, and all facets impacting the distribution of investment products. She is also a contributing author to the The Cerulli Edge™.

Pamela has nearly 20 years of financial industry experience. Prior to joining Cerulli, she served as Vice President of Marketing Research at Pioneer Investments. While at Pioneer, she was responsible for all aspects of research that supported Pioneer’s core businesses, including industry and competitor intelligence, new product development, positioning of products, and surveying and conducting focus groups of Pioneer’s broker clients. Earlier in her career, she worked as a Fund Accountant and a Marketing Statistical Analyst at Putnam Investments.

Pamela received her B.S. in Business Management with a concentration in Accounting from Rhode Island College. She has passed NASD Series 6 and 63.

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Donnie Ethier - Associate Director

Donnie’s research responsibilities include the retirement market with a specialized focus on Annuities, Insurance, and Distribution. He provides qualitative and quantitative analysis for The Cerulli Report™ and contributes to The Cerulli Edge™ series.

Prior to joining Cerulli, Donnie held roles at Sun Life Financial and Sun Life Financial Distributors. His responsibilities included Market Strategy and Competitive Intelligence, Distribution Strategy, Product Development, competitive positioning, and the training of wholesalers and the sales desk. Previously, he was an annuity Internal Wholesaler covering two New York territories.

Donnie earned his bachelor's degree in Business with a concentration in Finance. He has passed the NASD Series 6 and 63, and Massachusetts Life & Health exam.

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Anna Fang - Analyst

Anna has research responsibilities focusing on the retirement market. She provides quantitative analysis for The Cerulli Report™ and contributes to The Cerulli Edge™ series.

Prior to joining Cerulli, Anna was a Business Analyst intern at Wellesley Investment Advisors, a wealth management firm. Her responsibilities included assisting with the analysis of securities data, the integrity of financial reports, and providing ongoing support to the operations, marketing, and sales department.

Anna earned her B.S. in Business Management from Babson College, with a double concentration in Economics and Finance. She also spent one year studying abroad at the University of New South Wales in Sydney, Australia 

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Chris Farrell - Survey Analyst

Chris is responsible for maintaining Cerulli Associates’ survey engine. These surveys target leading financial institutions and advisors who provide the source data behind Cerulli publications. Chris also produces Cerulli’s benchmarking reports, which graphically compare a survey participant’s responses to the overall survey averages. He also contributes to the analysis of the collected data.

Prior to joining Cerulli Associates, Chris worked at Fidelity Investments in their Merrimack, New Hampshire location within the retail channel. His responsibilities included trading, portfolio construction and basic client service. 

Chris earned his bachelor’s degree from The Catholic University of America in Washington, DC with a major in Finance.

 

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Mardan Flynn - Research Relationship Manager

Mardan’s responsibilities include managing the internal survey process and strengthening research relationships with financial service firms.  Mardan works closely with the survey and research analysts, account managers, and marketing staff.

Before joining Cerulli, Mardan was a Senior Associate in the Client Relationship Management department at Cambridge Associates, where she was responsible for client service, retention, and development efforts.   In a prior role at Cambridge Associates, Mardan served as a Senior Investment Performance Analyst, where she evaluated investment managers and total portfolio results to assess the impact of client and manager decisions.

Mardan received her B.B.A. from James Madison University with a concentration in finance and minor in economics.

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Evonne Gan - Analyst

Based in Singapore, Evonne works closely with the head of research for the Asia-Pacific region and is involved in various publications, including The Cerulli Edge™ - Asian Monthly Product Trends.

She graduated from Nanyang Technological University with a BSc (Hons) in Mathematics and Economics.

Prior to joining Cerulli Associates, Evonne was a quantitative analyst at an asset management company. She is fluent in both English and Mandarin.

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Jessica Gibas - Senior Analyst

Jessica is responsible for producing Cerulli’s benchmarking reports, which graphically compare a survey participant’s responses to the overall survey averages. She also designs interactive dashboards that provide graphic visualizations of financial data.

Prior to joining Cerulli Associates, Jessica worked as an Associate supporting the research team at Gottex Fund Management, a fund of hedge funds. She specifically interacted with the credit and volatility arbitrage managers providing quantitative analysis of hedge fund performance, writing due diligence reports, and maintaining the proprietary database. 

Jessica received her M.A. in Economics from Boston University. She also graduated cum laude from Boston University with a B.A. in Economics and a minor in Business Administration and Management.

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Michele Giuditta - Associate Director

Michele has research responsibilities focusing on the institutional asset management industry. Michele has twenty years of institutional investment industry experience working on both the asset management and consulting sides of the business.

Prior to joining Cerulli Associates, Michele worked at Cambridge Associates as an Associate Director in the Client Relationship Management Group. She also worked at John Hancock Advisers in the Institutional Investment Sales & Services Group, and held roles in Product Management and Client Relationship Management.  Michele began her career at John Hancock Life Insurance Company, and held a position in the Investment Policy & Research Group supporting the firm’s General Account Assets.

Michele received her B.B.A. with a concentration in Finance from the University of Massachusetts at Amherst, and her M.S. in Finance from Boston College. She is a CFA chartholder and member of the Boston Security Analysts Society.

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Angelos Gousios - Senior Analyst

Based in London, Angelos provides quantitative and qualitative analysis for Cerulli’s European research products, specialising in retail asset management. 

Prior to joining Cerulli Associates, he was an analyst with Lipper, a Thomson Reuters company, analysing fund expenses.

Angelos has a B.A in Economics and an MSc in Finance & Investments.

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Kyle Gray - Analyst

Kyle has research responsibilities in retail and institutional asset management, and provides quantitative and qualitative analysis for the Cerulli Report and the Cerulli Edge series.

Prior to joining Cerulli, Kyle worked at Roe Equity Research, where he contributed to the firm’s sell-side investment research. Most recently, he worked for Robert Half International, where he was responsible for financial and operational data analysis for one of their Boston clients.

Kyle graduated from Drew University with a B.A. in Business Studies and a minor in Political Science. He is currently a Level II CFA candidate.

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Itsuko Hatanaka - Senior Analyst

Based near Tokyo, Itsuko has overseen Cerulli Associates' data-gathering and research activities in Japan since 1998. Itsuko contributes Japanese analysis and commentary to a number of Cerulli's international research publications, including Cerulli Global Update and The Cerulli Edge™—Global Edition. She also plays a key role in writing, assembling, and editing CA's reports focused on Japan, and assists with customized research and consulting projects.

Prior to her current assignment, Itsuko was involved in research projects for the Japan External Trade Organization (JETRO), now part of the Ministry of Economy, Trade, and Industry (METI).

Itsuko earned a bachelor's degree in sociology from Tokyo Women's Christian University and a master's degree in international relations from the Fletcher School of International Law and Diplomacy.

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Philip Holton - Analyst

Based in London, Philip is part of the European research group. He provides qualitative and quantitative analysis for Cerulli Associates' monthly and quarterly research notes publications, as well as The Cerulli Report series.

Philip read physics at the University of Bristol.

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Tanner Kulbashian - Analyst

Tanner sits within both the asset management and Lodestar teams, preparing datasets and designing modules for Lodestar, Cerulli’s interactive market intelligence platform. He also has an arm in the asset management team’s research process, conducting research calls and providing quantitative and qualitative analysis for the CerulliReportand theCerulli Edgeseries.

Before joining Cerulli, Tanner executed trading workflows as a QA analyst for Eze Castle Software’s hedge fund order management system. He also charted and projected government labor allocations as a business analyst for the MITRE Corporation while in college.

Tanner earned a B.A. in economics from Skidmore College, while working as an economics research assistant and as a specialist in academic technologies. During his studies, he participated in an international business program in Barcelona, Spain, contributing to his minor in international studies.

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Sabrina Lacampagne - Analyst

Based in London, Sabrina is part of the quantitative research group, with a specific focus on global and European research. She helps to provide support for numerous Cerulli publications.

Prior to joining Cerulli, Sabrina was a market analyst at AXA Investment Managers. She conducted global market intelligence analyses on both the institutional and distribution segments, and participated in several internal publications.

Sabrina graduated from University of Bordeaux, with a degree in Economics and double major in Finance. She also spent a year in University of Oklahoma, USA.

Apart from English, Sabrina is fluent in French.

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Alexi Maravel - Associate Director

Alexi has research responsibilities for institutional asset management and markets.

Alexi has more than 20 years asset management and financial services experience, with particular concentrations in institutional marketing communications, client communications, and public relations. Prior to joining Cerulli Associates, he was Head of Communications, Institutional Asset Management, for Fidelity Investments. He has held a variety of marketing, communications, and media relations roles at Sun Life Financial, Capital Group Companies (Capital Guardian Trust Company), Putnam Investments, and Fidelity.

Alexi holds a B.A. degree cum laude from Northeastern University.  

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Patrick Newcomb - Senior Analyst

Patrick has research responsibilities focusing on the fee-based managed accounts industry. He provides quantitative analysis for The Cerulli Report™ series and contributes to The Cerulli Edge™ series.

Prior to joining the managed accounts practice, he was responsible for maintaining Cerulli Associates' proprietary survey engine. Collaborating with analysts from all of Cerulli's practices, he administered, prepared and analyzed data for surveys targeting financial institutions and advisors (both U.S. and international).

Patrick graduated from the Carroll School of Management at Boston College with a degree in Finance and Marketing. Previously he worked as a summer employee at Anglo-Irish Bank in Dublin and Brown Brothers Harriman in Boston.

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Alec Ng - Analyst

Based in Singapore, Alec has research responsibilities focusing on the Asian asset management industry. He is involved in various Cerulli publications, including the Asian Monthly Product Trends. 

Alec graduated from National University of Singapore with 2nd Upper Honors in Business Administration, specializing in Finance.  
 
Before joining Cerulli Associates, Alec interned with Singapore Exchange in the derivatives department. He is fluent in English and Mandarin. 

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Felix Ng - Senior Analyst

Based in Singapore, Felix has research responsibilities covering the asset management industry in Asia, and is involved in the production of various Asia-focused reports.

Felix has prior experiences in financial services consulting where he undertaken projects for major life insurers analyzing the wealth management landscape within Asia. He had also served as a statistician focusing on econometric analysis of Singapore’s key industrial indicators.

Felix graduated magna cum laude from Singapore Management University with a Bachelor of Science in Economics and double major in Finance, during which he also spent a semester at Warsaw School of Economics and undertook an internship stint with OCBC bank in Shanghai. He has passed all three levels of the CFA examination and may be eligible for the CFA charter upon completion of the required work experience.

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Yoon Ng - Asia Research Director

Yoon is an Associate Director with Cerulli in London and is responsible for managing the firm’s quantitative research process with a specific focus on European and global research. Yoon works closely with inhouse analysts as well playing a coordinating role with external report writers and analysts. She provides support for numerous Cerulli Associates’ publications, and assists in generating in-depth analysis of the global asset management industries outside of US.

Yoon, who joined the firm in Singapore, graduated summa cum laude from Singapore Management University with a degree in Economics and double major in Finance. She also spent a semester in Nankai University, China.

Apart from English, Yoon is fluent in Mandarin.

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Frederick Pickering - Analyst

Ricky works in the Managed Account practice, where he maintains the Cerulli managed account database and contributes quantitative analysis for the The Cerulli Edge™.

Previously he was responsible for maintaining Cerulli Associates’ proprietary password-protected survey engine. While attending college, Ricky interned at UBS and Merrill Lynch, where he contributed to portfolio construction, as well as equity and fixed-income research. After graduation, Ricky interned for Fidelity Investments, where he delivered an econometric analysis that explored the variables that affect investor buying and selling behavior.

Ricky is a graduate of Stonehill College with a B.A in Economics and a B.S in Finance

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Rachel Poh - Analyst

Based in Singapore, Rachel works closely with the head of research for the Asia-Pacific region, and is involved in producing numerous research, including  The Cerulli Edge™ - Asian Monthly Product Trends.

Rachel graduated from Singapore Management University with a B.Sc degree in Economics and major in Accountancy.

Before joining Cerulli Associates, Rachel held multiple internship positions at Towers Watsons Singapore in their data services and research and innovation departments.
 

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Chin Chin Quah - Senior Analyst

Based in Singapore, Chin Chin works closely with the head of research for the Asia-Pacific region, and is involved in producing research for Cerulli Associates’ numerous publications, including the Global Edition and the Asia-Pacific Edition of The Cerulli Edge™.

Chin Chin graduated from Nanyang Technological University in Singapore with a Bachelor of Communication Studies, majoring in journalism.

Before joining Cerulli Associates, Chin Chin held internship positions at Bloomberg and The Business Times Singapore. She is fluent in English, Malay and Chinese.

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Roger D. Stamper Jr. - Senior Analyst

Roger has research responsibilities focusing on Cerulli’s Retail Investor Practice. Roger also provides quantitative analysis for Cerulli's High-Net-Worth and Intermediary research areas.He contributes to The Cerulli Report™ and The Cerulli Edge™ series.

Prior to joining Cerulli Associates, he was an Associate Research Manager at Verbatim Advisory Group, providing sales growth forecasts across discretionary and non-discretionary consumer goods. Roger also interned at Commonfund and Merrill Lynch.

Roger graduated from Sacred Heart University with a B.A. in Finance and Economics. He is currently a Level I CFA candidate.

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Will Sutton - Analyst

Based in London, Will works primarily as an analyst for Lodestar, Cerulli's new web-based business intelligence platform.

Prior to joining Cerulli Associates, Will worked for Killik Asset Management, JPMorgan Asset Management, and Atkinson Bolton IFA in various investment lead roles.

Will graduated from Loughborough University with a BSc (Hons) degree in Maths and Management. He also holds the Investment Management Certificate (IMC) qualification.

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Rui Ming Tay - Analyst

Based in Singapore, Rui Ming is responsible for administering all proprietary surveys for Singapore office. Rui Ming also produces Cerulli’s benchmarking reports, which graphically compare a survey participant’s responses to the overall survey averages. He also designs interactive dashboards that provide graphic visualizations of financial data.

Rui Ming received his BSc (Hons) from Nanyang Technological University with a major in Statistics, and double minor in Economics and Business. He also spent a semester in University of Western Ontario, Canada.

Prior to joining Cerulli Associates, Rui Ming had internship experience in the field of data mining analysis. He is fluent in both English and Mandarin.

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David Walker - Associate Director

David Walker is a senior analyst based in London, focusing on the institutional research. In his role, he conducts interviews with institutional asset managers, consultants, fiduciary managers, and end-clients such as pensions and insurers. He contributes to the  Cerulli Report series and Cerulli Edge series.

Before joining Cerulli Associates, David was a senior journalist for Investment Europe, a pan-European industry trade title covering top-end retail and institutional asset management, and the communities allocating money to them across Europe. He has also been the hedge fund editor at Financial News in London, the editor of alternative investment title Hedge Funds Review, and a business journalist on Australian daily newspaper, The Age.

David holds an MA in Germanic Studies from the University of Melbourne, and a Graduate Diploma in Journalism from RMIT, also in Melbourne.

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Barbara Wall - Europe Research Director

Barbara is the editor of The Cerulli Edge™—Global Edition and The Cerulli Edge™—Europe Edition, and has more than 20 years financial journalism experience. She has written extensively on international capital markets and asset management, and has covered the emerging and frontier markets, in addition to the more developed markets across Europe and other jurisdictions.

Barbara has an MA in History/Political Science from Dundee University, and is fluent in French.

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About Us > Editorial Group
Judy Chase - Director

Judy is responsible for overseeing the U.S. Cerulli Report™ series, playing a key role in directing the research, editing reports, monitoring workflow, and maintaining quality control.

Judy began her tenure at Cerulli Associates as the Editor of The Cerulli Edge™—U.S. Edition™. She served in that capacity for two years.

Prior to joining Cerulli Associates, Judy was Vice President and Director of Securities Research at the Securities Industry Association (SIA) in New York. Her responsibilities included writing and editing the monthly SIA Research Reports, and conducting research on all areas of the securities industry, including alternative investments, broker/dealer firms, clearing, corporate finance, cross-border operations, market structure, regulation and compliance, retirement, risk management, and straight-through processing.

Formerly, Judy worked at Deloitte Consulting in New York. She earned a Ph.D. and M.A. from Columbia University, where she was a Fulbright scholar, and a B.A. in Russian Studies from UCLA.

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Thusitha de Silva - Editor

Thus edits Cerulli publications that originate from the Singapore office. He has a financial journalism background, and also lectures at the Nanyang Technological University in Singapore.

Prior to joining Cerulli, he worked in Dow Jones Newswires in Singapore. Thus has a BSc and MBA from the University of New South Wales in Sydney, Australia. Apart from English, he speaks some Malay and Sinhala.

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Nichola Gaudion - Editor
Nichola has more than 20 years' experience as a journalist on weekly and monthly trade and consumer publications, both as a writer and sub-editor. Nichola is responsible for editing all of Cerulli Associates' London office reports.

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Carol Grabowski - Editor

Carol edits U.S. editions of The Cerulli Edge® series, a suite of periodicals including the U.S. Asset Management Edition, the Managed Accounts Edition, the Advisor Edition, the Institutional Edition, and the Retirement Edition. Carol works with Cerulli analysts to set and evolve the editorial direction of these publications, develop story ideas, and edit submissions, and also coordinates the design and production processes.

Prior to joining Cerulli Associates, Carol was an editor and writer for S&P Capital IQ Financial Communications where drafted content relating to economic trends and the financial markets, equities, fixed income, retirement planning, small business, and others. Prior to S&P Capital IQ Financial Communications, Carol held investor relations positions with Sharon Merrill Associates and Chipcom Corporation.

Carol holds a B.A. in political science from Providence College, an M.A. in newspaper journalism from Syracuse University, and an M.B.A. from the Simmons College Graduate School of Management.

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Alexandra Dimino - Layout Associate

A member of the design group at Cerulli, Alexandra is responsible for the layout, trafficking, production, and distribution of the nine publications in the The Cerulli Edge™ series: the monthly U.S.Asset Management, U.S. Monthly Product Trends, and Global editions, and the quarterly Advisor, Asia Pacific, Europe, Managed Accounts, and Retirement editions. She also works on the firm’s marketing and client-service initiatives.

Prior to joining Cerulli, Alexandra attended Salem State College, where she was a member of Lambda Pi Eta (the official honor society of the National Communication Association) and graduated with a degree in advertising.

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Jennifer Feugill - Associate Director

Jen is primarily responsible for the integrity of data and data presentation across all U.S. publications and presentations.

Jen began her tenure at Cerulli Associates as an analyst focusing on managed accounts. In her role, Jen regularly updated and analyzed key managed account metrics and contributed to The Cerulli Edge™ and The Cerulli Report™ series.

Prior to joining Cerulli, Jen worked as a Business Analyst at BTM Capital Corp. Her responsibilities included assisting in the operational aspects of system administration and providing ongoing quality assurance analysis on data related to multiple groups in the operations department.

Jen earned her B.A. in International Relations from The George Washington University. For a semester abroad, she studied at the University of Rennes in France.

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Kevin Frost - Layout Associate

As a member of the design group at Cerulli, Kevin is responsible for the layout, trafficking, and production of all domestic publications in the Cerulli Report series. He also plays a role in marketing collateral layout and assists the marketing team with business development initiatives.

Prior to joining Cerulli, Kevin attended Plymouth State University, and graduated with a Bachelor’s degree in Fine Art. There, he was recognized for his work in the university’s Student Design Company and had his senior thesis in Graphic Design displayed in Plymouth State University’s Showcase of Excellence.  

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Joy Greenberg - Editorial Associate

As a member of the Editorial Group at Cerulli, Joy is responsible for reviewing all U.S.-based publications of The Cerulli Report™ Series to ensure the quantitative integrity of the data as well as its currency and contextual relevance. She also maintains the company list master file and report chart index, and creates client files and the document used to lay out each report.

Prior to joining Cerulli, Joy was an intern at New England Pension Consultants, an investment consulting firm. As part of her role, she supported senior consultants in the traditional research group, helping to identify potential candidates for the firm’s Focused Placement List. She engaged in quantitative analysis and fundamental due diligence of investment managers, ultimately compiling this research into write-ups for clients.

Joy earned her B.S. in Finance from the University of Massachusetts at Amherst, with a double minor in English and French. She spent six months studying abroad at Dauphine Université in Paris.

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Mary McAvity - Consultant

Mary has been providing strategic initiatives for Cerulli Associates’ consulting clients since 1994. Her responsibilities encompass project management and ground-level research. She has experience across a wide range of clients, including investment management firms, securities broker/dealers and insurance companies. Areas of emphasis include distribution of packaged products through various channels and new product development. Mary is also involved in industry and market analyses for Cerulli, particularly in the variable insurance and financial advisor markets. She has responsibility for developing field-level market research through a series of research efforts for The Cerulli Edge™ series.

Mary has been heavily involved in research and analysis for The Cerulli Report™ series, particularly for Asset-Based Strategies: Developments in the Financial Advisor and Wrap Markets, and The State of the Variable Insurance Markets.

Mary was formerly a Marketing Director at NYLIFE Equity, an investment subsidiary of New York Life Insurance Co., where she developed an outside distribution operation distinct from the New York Life insurance agents. Previously, she worked as an Account Executive at a research firm specializing in financial services systems.

She earned a B.S. in Geology from Skidmore College and an MBA in Finance from Boston University.

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About Us > Marketing
Rachael L. Malatesta - Director, Marketing & Business Development

Rachael has responsibilities encompassing client management, marketing, and business development. Prior to her current role, she was a senior analyst in the intermediary practice and was the lead author of The State of the Bank Brokerage Industry and Financial Planning: The Delivery of Advice & Guidance. She was also a contributor to The Cerulli Edge™ series.

Prior to joining Cerulli, Rachael managed a retirement sales desk at Fidelity Institutional Brokerage Group (IBG). Her responsibilities included business acceptance, compliance and controls, marketing, and the overall sales productivity for a proprietary 401(k) plan. Rachael and her team targeted a range of firms using IBG's clearing services, including insurance, banks, and financial planning firms. Before IBG, Rachael was a retirement plan Regional Director at John Hancock Funds, where she was responsible for delivering retirement plan solutions to wirehouse, bank, and financial planning channels in the Midwest territory.

Rachael also held a position as a marketing consultant for both mutual funds and retirement plans at John Hancock Funds.

Rachael earned her bachelor's degree in Finance, with a minor in Sociology, from George Washington University. She earned an MBA and a certificate in financial planning from Boston University.

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Suzanne Giovangelo - Senior Marketing Associate

Suzanne is responsible for managing the promotion and marketing of Cerulli's publications and subscriptions. This includes The Cerulli Edge™ series, Cerulli Thematic Reports, Cerulli Special Reports and Cerulli Quantitative Updates. She also supports the marketing and business development team on various projects and campaigns.

Previously, Suzanne was a Development and Marketing Intern for Web of Benefit, a non-profit organization dedicated to awarding grants to survivors of domestic violence.

Suzanne earned her bachelor's degree in Business Management with a concentration in Strategic Management and Leadership from Babson College.

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Jennifer Jones - Senior Marketing Associate - Content Manager

Jenn is responsible for promoting all of Cerulli’s products by developing marketing materials and campaigns. This includes The Cerulli Edge™ series, and Cerulli Reports. As a member of the Marketing & Business Development Team, Jenn also manages the firm’s press related initiatives and social media efforts.

Prior to joining Cerulli, Jenn was a member of the Value Add Marketing team at Columbia Management. Her responsibilities included re-branding the extensive library of client and advisor educational materials within the Columbia Management Learning Center, and launching a new advisor website portal. Prior to Columbia, Jenn was the Marketing Manager for the 529 college savings plan at John Hancock Financial Services, where she managed all print and digital marketing efforts for the John Hancock Freedom 529 plan.

Jenn earned her bachelor’s degree in Business with a dual concentration in Management and Marketing from Northeastern University.

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Ashley McKinney - Senior Designer & Marketing Associate

Ashley is responsible for the trafficking, production, and design of all nine publications in The Cerulli Edge™ series: the monthly U.S. Asset Management, Global, and U.S. Monthly Product Trends Editions, and the quarterly Advisor, Managed AccountsRetirement, Europe, and Asia-Pacific editions. As a member of the Marketing & Business Development Team, Ashley designs and manages the firm's promotional campaigns and client communications.

Ashley graduated cum laude from Merrimack College earning her bachelor’s degree in Digital Media Art. She also participated in a semester abroad program in Florence Italy that was focused on studio art and art history.

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Monica Alves - Direct Mail and Subscription Marketing Associate

Monica is responsible for the distribution of The Cerulli Edge series and Cerulli Reports.  She executes direct mail marketing campaigns, provides office administration support, and helps coordinate events.

She is also responsible for managing Cerulli's subscription-based marketing programs and client communications.  

Prior to joining Cerulli, she worked at LibbyHoopes and Harmon Law Offices, where she provided legal/administrative support for attorneys.

Monica graduated from Umass Amherst in 2010 with a B.A. in Legal Studies and a minor in Economics.

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Alicia Sanchez - Marketing Associate

As the receptionist at Cerulli, Alicia manages incoming calls and guests and provides office administrative support. She also assists the marketing department with client communications.

Prior to joining Cerulli, Alicia was a preschool teacher in Atlanta, and most recently coached gymnastics and taught toddler gym classes in Cohasset.

Alicia graduated magna cum laude from Salve Regina University, earning her B.A. in Studio Art with a concentration in graphic design, and minors in Spanish and Art History.

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About Us > Account Management
Rachael L. Malatesta - Director, Marketing & Business Development

Rachael has responsibilities encompassing client management, marketing, and business development. Prior to her current role, she was a senior analyst in the intermediary practice and was the lead author of The State of the Bank Brokerage Industry and Financial Planning: The Delivery of Advice & Guidance. She was also a contributor to The Cerulli Edge™ series.

Prior to joining Cerulli, Rachael managed a retirement sales desk at Fidelity Institutional Brokerage Group (IBG). Her responsibilities included business acceptance, compliance and controls, marketing, and the overall sales productivity for a proprietary 401(k) plan. Rachael and her team targeted a range of firms using IBG's clearing services, including insurance, banks, and financial planning firms. Before IBG, Rachael was a retirement plan Regional Director at John Hancock Funds, where she was responsible for delivering retirement plan solutions to wirehouse, bank, and financial planning channels in the Midwest territory.

Rachael also held a position as a marketing consultant for both mutual funds and retirement plans at John Hancock Funds.

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Thomas S. Marsh - Director, Global Relationship Manager

As director of global relationships, Thomas focuses on trend and strategy discussions for industry executives and CEOs. The role provides global and US perspective from ongoing executive meetings that firms can put into the context of Cerulli's research, data, and reports.

Prior to his role as global relationship manager, Thomas was a director of global business development focusing on opportunities in the U.S. and around the globe.

Thomas began his career with Cerulli Associates in 1999 as an analyst for its international research team, which produced reports on retail and institutional fund management industries outside the United States, and then as a global account manager supporting Cerulli Associates’ international client needs.

Prior to joining Cerulli, Thomas spent five years covering the asset management industry as a journalist for Institutional Investor Inc.’s newsletter division. During that time, he served as managing editor of Money Management Letter in New York, focusing on the U.S. institutional marketplace, and managing editor of Global Private Banking in London, where he covered the world’s high-net-worth fund management industry.

Thomas also worked as an account executive for Schofield & Co., leading the Boston-based public relations firm’s European operation from London. Thomas' duties included advising several large U.S. asset managers on their marketing profiles and strategies in Europe.

Thomas earned a bachelor’s degree in English literature and journalism from the State University of New York at Albany.

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Jared F. Baucom - Associate Director

Jared’s responsibilities focus on business development, client management, and sales for Cerulli’s international research and clients.

Prior to joining Cerulli, Jared worked as an equity analyst at Baring Asset Management, where he was responsible for the U.S. Utilities sector and also contributed to the U.S. Industrials sector. Jared supported the U.S. team’s quantitative models and oversaw and implemented risk metrics for the firm’s U.S. portfolios. Prior to Barings, Jared spent two years at State Street Corporation working in the Custody department.

Jared earned his B.A. in Finance and Economics from the University of Missouri-Columbia.

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Manni Huang - Account Manager, Singapore

Based in Cerulli’s Singapore office, Manni is part of Cerulli’s Account Management team, working closely with the Global Business Development Director. Manni’s responsibilities focus on client management, sales and business development for Cerulli’s Asia-focused products.

Prior to joining Cerulli, Manni worked as a researcher in the field of psychology and marketing: Assessing the relation between consumer motivation and behavior.

Manni received her MSc in Interactive Digital Media from Trinity College Dublin, Ireland. Apart from English, Manni is fluent in Mandarin and Cantonese.

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Lauren Eilberg - Senior Accounts Manager

Lauren’s responsibilities focus on client management, sales, and business development for Cerulli’s U.S.-focused product lines.

Lauren spent four years at Putnam Investments where she started as an Inbound Marketing Sales Representative and was promoted to a Sr. Internal wholesaler position. In these positions, she was responsible in providing investment advice and product support to wirehouse broker dealer advisors in Northern California.

Lauren earned her B.S. in Economics from Union College. She currently holds her NASD Series 7 and 63 licenses.

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Jeff McGuire - Senior Accounts Manager

Jeff’s’ responsibilities focus on account management, sales, and business development for Cerulli’s U.S. and Canadian based accounts.

Prior to joining Cerulli, Jeff spent 10 years working at MFS Investment Management, where he held a number of roles such as Inbound Marketing Representative, Internal Wholesaler (covering the Broker Dealer Channel in Florida), Internal Wholesaler (covering the Registered Investment Advisor/RIA channel for the Mid-Atlantic and South East territories of the US) and more recently as a Separately Managed Account Analyst.

Jeff earned his B.S. in Business Administration with and emphasis on Marketing from the University of Central Florida.

He currently holds his NASD Series 6, 63, 65 and 7 licenses. He has also passed his MA Life and MA Health Insurance license and holds a Certified Fund Specialist designation from the Institute of Business & Finance.

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Austin J. Ulep - Associate Director, Accounts Manager

Austin’s responsibilities at Cerulli focus on client management, sales, and business development.

Prior to joining Cerulli, Austin was an account executive at Technology Business Research Inc., where he was also responsible for client management, sales, and business development.

Austin also spent seven years at MFS Investment Management where he had a number of roles including Inbound Marketing Sales Representative, Internal Wholesaler, and Business Development Manager. In these positions, he was responsible for providing investment solutions to financial planning and bank channels in the Southeast.

Prior to MFS, Austin worked for New England Funds as an Investor Services Representative. In this position, he provided customer service for shareholders and financial advisors.

Austin earned a B.A. in Sociology from Boston College. He has passed NASD Series 6, 63, MA Life Insurance, and Chartered Mutual Fund Counselor licensing exams.

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Brian C. Walker - U.S. Accounts Manager

Brian C. Walker - U.S. Accounts Manager

Brian's responsibilities focus on account management, sales, and business development for Cerulli’s U.S.- and Canadian-based accounts.

Prior to joining Cerulli, Brian spent 5 years working at Eaton Vance as an internal wholesaler (and 2 years at John Hancock as a senior internal wholesaler. Brian earned his B.S. in Mass Communication with an emphasis on Advertising and Marketing from Texas Tech University. He currently holds his NASD Series 6, 63, 66 and 7 licenses, and has also passed his MA Life Insurance license.

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About Us > Administration and Support
Lisa Bourton - Office Administrator

Lisa has overall responsibility for the management of the London office's administration, which covers a wide range of regular and ad hoc assignments.

Lisa has worked for the company since the London Office was formed and holds a B.Sc and MBa.

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Norhana Kader - Office Administrator, Singapore

Nor has overall responsibility for the management of the Singapore office's administration which covers a wide range of regular and ad hoc assignments. She supports a team of eight full time employees. In addition to managing the day to day affairs of the Singapore office, Nor is also responsible for the Singapore office's accounts as well as dealing with external vendors. Nor has over 14 years of office administration experience in Singapore and is fluent in English, Malay and Bahasa Indonesia.

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Bonny J. Mears - Office Manager

Bonny’s main responsibilities are managing accounts payable, accounts receivable (including credit card payment processing), and payroll processing for the Boston operation. She serves as 401(k) administrator for the firm and handles benefits enrollment and new employee orientation. Other duties include the day-to-day operation of the office, including overseeing of maintenance contracts, leased equipment, and procurement of office supplies.

Prior to joining Cerulli Associates in 2004, she was the assistant and office administrator for an independent financial advisor who specialized in advising small business owners.

Formerly, Bonny spent more than 22 years in the Pulp & Paper Industry as a Marketing Specialist and International Customer Service Account Representative for heavy machinery manufacturing firms. She was an active member of the technical association, TAPPI, for 11 years, holding various positions including Committee Chair.

A graduate of Lock Haven University with a B.S. in Management Science, Bonny also holds an MSBA with a focus in International Business/Marketing from Bucknell University.

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