The 2016 All-Europe Research Team: Beverages, No. 3: Gerry Gallagher, Tristan van Strien & team

At No. 3 is Deutsche Bank, which returns to this roster after a two-year absence, claiming the position it held in 2013

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< The 2016 All-Europe Research Team

2016-02-tom-johnson-all-europe-research-team-gerry-gallagher.jpg

Gerry Gallagher, Tristan van Strien & team
Deutsche Bank
First-place appearances: 7

Total appearances: 17

Team debut: 1996

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At No. 3 is Deutsche Bank, which returns to this roster after a two-year absence, claiming the position it held in 2013. At that time, Jonathan Fell and James Isenwater led the firm’s coverage of European beverages equities; they departed in June of that year to co-found consumer-focused money manager Ash Park Capital, and this group is now overseen by newcomers Gerry Gallagher and Tristan van Strien. In their reporting on 11 names in this space, the analysts exhibit “strong industry knowledge, especially in beer and breweries,” one fund manager observes. One they particularly like is Royal Unibrew, a Danish producer and distributor of beer, malt beverages and soft drinks. Deutsche’s crew initiated coverage on the stock in June with a buy rating, explaining that the company’s fully integrated beer and soft drinks businesses help to drive strong margin expansion. In addition, the researchers advised, members of management trained in private equity have devised an effective, decentralized structure. By mid-January, Unibrew shares had climbed 7.4 percent, to 258.90 Danish kroner, while the regional sector was nearly flat. Van Strien, 44, has been with the firm since March 2014. He earned a bachelor of science degree from Emory University in the U.S. and an MSc in international management from the Netherlands’ Nyenrode Business Universiteit. Subsequently, he spent 17 years at British brewery SABMiller in both operational and strategic roles covering marketing, sales, M&A and investor relations in Africa, Asia and Europe. A few months before van Strien signed on at Deutsche, his 49-year-old co-captain had returned to the firm, following his stint as director of investor communications at U.K.-based Imperial Tobacco. Before leaving in 2008, Gallagher had worked for seven years at the firm and stewarded its tobacco team to many appearances on the All-Europe Research Team, including No. 1 showings from 2003 through 2006. He holds a degree in economics and politics from England’s University of Warwick.

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