< The 2015 All-Europe Research Team
Adam Spielman & team
Citi
First-place appearances: 6
Total appearances: 16
Team debut: 1986
Citi’s European tobacco squad under the direction of Adam Spielman rebounded to the top of this lineup last year but now tumbles back to third place. The 48-year-old crew chief, who directs coverage from his base in London, is hailed by one investor for his “in-depth sector know-how.” His team is negative on Swedish Match, a manufacturer of snus smokeless tobacco and mass-market cigars. Sweden is raising taxes on snus products, which the analysts believe will encourage consumers to switch to less expensive brands, challenging Swedish Match’s share of its core market.
