EDWARD H. NASH joined Legg Mason’s Equity Research Department as a
Principal in March 2003, focusing on the biotechnology/life sciences
sector. Most recently, Mr. Nash was a senior analyst in equity research
covering the biotechnology sector at Rodman & Renshaw, Inc. He has also
been affiliated with Ladenburg Thalmann & Co., Commerce Capital Markets,
Inc. as well as Lazard Freres, LLC in their equity research departments,
also focusing on biotechnology. Mr. Nash began his Wall Street career as
a healthcare analyst at SG Cowen Asset Management, Inc. Early in his
career, Mr. Nash was a basic science researcher with The Center for
Macromolecular Crystallography in Birmingham, AL, working in rational
drug design. Concurrently, Mr. Nash was working in basic research in the
field of evolutionary biochemistry. Mr. Nash graduated from Spring Hill
College, Mobile, AL, with a BS in biology and chemistry. He also has an
MPH in epidemiology from The University of Alabama at Birmingham. Mr.
Nash has both an MBA in Finance and an MS in International Business from
The University of Miami.
EDUARDO M. CABRERA is a First Vice President, Senior Managing Director
at Merrill Lynch and Chief Latin America Strategist. He has been an
equity analyst on Wall Street for over 12 years. Previously, Mr. Cabrera
worked for the British brokerage firm James Capel as one of the first
Latin America equity analysts on Wall Street and prior to that, he
worked at Paine Webber; Eppler Guerin & Turner; and at Raymond James &
Associates. He is frequently featured on CNN, CNBC, Reuters, The Wall
Street Journal, and The New York Times. Mr. Cabrera received his BS in
Industrial and Systems Engineering with a double major in Economics from
the University of Florida and an MBA from the Harvard Graduate School of
Business Administration. Born in Matanza, Cuba, he has lived in Mexico,
Venezuela and Spain.
EDMUND KROLL is a Managing Director/Senior Health Care Services Analyst
at Cowen & Co. Previously, he was associated with Furman Selz and Lehman
Brothers. He earned his Bachelor’s degree in economics from Rutgers
University, his MBA in finance from Indiana University, and is also a
Certified Public Accountant. Mr. Kroll is married and includes golf,
history and running among his personal interests.
E. ROBERT HANSEN III joined the Equity Research division of Standard &
Poor’s Equity Group in 2003 and covers financial services companies.
Previously, he was a Vice President in the Equity Division of the U.S.
Trust Company from 2000, where he was responsible for stock selection
within the financial services sector. Before U.S. Trust, he followed
enterprise hardware companies at Merrill Lynch from 1998. Prior to
joining Merrill Lynch, he followed communications equipment companies at
Morgan Stanley, where he played an instrumental role in several initial
public offerings. He received a Master’s degree in Business
Administration from the Darden School at the University of Virginia and
graduated Phi Beta Kappa with a BA in economics from Colgate University.
He is a Chartered Financial Analyst, a member of the New York Society of
Security Analysts and is registered with both the NYSE and NASD.
E. REILLY TIERNEY is a Senior Vice President of Equity Research at Fox-
Pitt, Kelton Inc. Mr. Tierney’s research coverage includes investment
banks and brokers and specialty finance companies (primarily credit
card, consumer and commercial finance companies). Prior to joining the
FPK in 1997, Mr. Tierney spent three years as a corporate ratings
analyst at Duff & Phelps Credit Rating Co. At Duff & Phelps, Mr.
Tierney’s responsibilities included corporate ratings of consumer,
commercial and other specialty finance companies. Additionally, he
assisted in the evaluation of the issuers of asset-backed securities.
Prior to Duff & Phelps, Mr. Tierney worked for five years as a
commercial banker, specializing in high yield credits. Mr. Tierney holds
a Bachelor of Arts degree in history from Northwestern University and a
Master of Business Administration degree from the Darden Graduate School
of Management at the University of Virginia. He is a Chartered Financial
Analyst.
DR. PETER F. DRAKE is a Managing Director and Senior Biotechnology
Analyst at Prudential Securities, Inc. He was a co-Founder and Executive
Vice President of Vector Securities International, Inc., which was
acquired in July 1999 by Prudential Securities, Inc. Prior to this, Dr.
Drake was a Partner with Kidder Peabody and Company and was its Senior
Research Analyst covering biotechnology and biomedical products from
1980-1983. Dr. Drake has published extensively on the biotechnology
industry. He has been consistently ranked among the leading analysts on
Wall Street by Institutional Investor magazine most recently as the
number one analyst among regional research boutiques, while at Vector
Securities International Inc. 1995-1999. Dr. Drake holds a PhD in
Neurobiology and Biochemistry from Bryn College, and a CBA from the
Wharton School of Business at the University of Pennsylvania, and
performed his undergraduate work at Bowdoin College where he majored in
Biology and Russian.
DR. MARY ANN GRAY has been with the Federated Kaufmann Fund for the past
two years, focusing on both public and private healthcare investments.
Prior to joining the Kaufmann Fund, Dr. Gray was a sell side
Biotechnology Analyst for nine years with Kidder Peabody; Dillon, Read;
and Raymond James. Earlier in her career, Dr. Gray managed preclinical
toxicology studies for the National Cancer Institute through Battelle
Memorial Institute and worked in a hospital laboratory. She did
postdoctoral work at Northwestern University Medical School and Yale
University School of Medicine. She held scientific positions at
Schering-Plough and NeoRx. Dr. Gray has a PhD in Pharmacology from the
University of Vermont where she focused on novel chemotherapeutic agents
for the treatment of cancer.
DR. GIRISH TYAGI is a Principal in the Research Department at Thomas
Weisel Partners LLC, where he covers the Major Pharmaceuticals sector.
Previously, he was the Senior Healthcare Analyst at ABN Amro. Prior to
entering the securities business, Dr. Tyagi practiced medicine for 15
years. Dr. Tyagi received a Pre-Medical degree from Delhi University, a
Medical degree from the M.A. Medical College of New Delhi, India, and a
Master of Business Administration degree from Northeastern University in
Boston, Massachusetts. Dr. Tyagi is board certified in Internal Medicine
(United Kingdom) and Radiology (United States and United Kingdom). He is
a Member of the Royal College of Physicians of the United Kingdom and a
Fellow of the Royal College of Radiologists.
DOUGLAS M. ARTHUR joined Morgan Stanley in late 1994 as a Principal
covering the publishing industry. He was promoted to Managing Director
in 1997. He came to Morgan Stanley after an almost 14-year stint at
Kidder, Peabody, where he was an equity analyst covering industries
ranging from paper/forest products and business services to publishing,
which he assumed coverage of in 1991. He was ranked as Third Team in
2002 and First Team in 2001 by Institutional Investor, and was
previously ranked Third and Runner-up for the last nine years. He also
ranked fifth in the recent Greenwich Research poll after placing second
in the last two years, as well as ranking first in the 2001 Reuters
Poll, and fourth in the 2001 Wall Street Journal stock picking poll. He
is the president of the Media and Entertainment Analyst Society of New
York. Prior to joining Kidder, he worked at Chemical Bank. He graduated
from Colgate University in 1979 with a BA in History and Art History. He
earned a CFA in 1989.
DOUGLAS LOE is healthcare and biotechnology analyst at Dlouhy Merchant
Group. Dr. Loe has covered the Canadian biotechnology sector since 2000
and joined the Dlouhy team in August 2002. He holds a MBA from Queen’s
University and a PhD in biochemistry from the University of Guelph,
working in the area of cancer chemotherapy and multidrug resistance,
followed by post-doctoral training at the Queen’s University Cancer
Research Laboratories. Prior to commencing his career in financial
analysis, Dr. Loe worked as a consultant to Molecular Mining Corporation
and MDS Inc. To date, Dr. Loe has published 24 abstracts and 17 peer-
reviewed manuscripts and review articles related to P-glycoprotein and
MRP-mediated multidrug resistance.
