John L. Barnes III, Managing Director, joined RBC Capital Markets equity research in June 2009 and covers the air freight/surface transportation sector, including railroad, truckload and less-than-truckload carriers, as well as freight forwarding, third-party logistics and dedicated cargo/integrated parcel carriers. Prior to joining the firm, Mr. Barnes followed the industry as a Senior Analyst at BB&T Capital markets, Credit Suisse First Boston and Deutsche Bank Securities, Inc., where he also covered the machinery industry. Mr. Barnes was recognized as the number four stock picker in heavy machinery and materials in the 2009 Wall Street Journal “Best on the Street” survey. He was also ranked the number three stock picker in road and rail, in the Financial Times/StarMine 2009 annual survey. Mr. Barnes was named the best up-and-coming analyst by Institutional Investor in 2002. He holds a BBA with a concentration in finance from Augusta College.