Michael Baptista

Founding Partner

2018 - Current

I am the founding partner of Assembly Capital Partners whose regulated activities are in the venture capital space (B2B FinTech specialist). https://www.assemblycapitalpartners.com I also (selectively) commit to a small number of businesses whether as a NED, short-term executive or consultant. -------------------------------------------------- Assembly Capital Partners Limited is an Appointed Representative of Sapia Partners LLP which is authorized and regulated by the Financial Conduct Authority.

Board Member

2016

Board Member

2018

Board Member

2017

Global Head of Research, Markets ExCo

2011 - 2015

After a sabbatical to do a Masters in philosophy (see below), I returned to the industry to take on responsibility for Research in all asset classes across the Unicredit Group’s investment banking operations. I have carried out significant re-structuring and made key hires. The firm now has a coherent strategy as a regional player. It also enjoys very strong positions in European credit research and in macro (economics, strategy). Research is now closely aligned with the relevant businesses internally. I am a member of the Markets Client Committee with selective a/c management responsibility (both corporate and institutional clients).

Global Head Cash Equities and Delta 1, MD

2008 - 2010

On the management team for an Equities business with revenues of £1.3bn in 2009. Closely involved in cash secondary, Delta 1 and ECM (>£400mn for 2009), of which a third came from the secondary and trading businesses managed directly. On highly conservative accounting delivered a +300% return on capital. Within twelve months of taking on the role: closed weak businesses e.g., old Alfred Berg business; cut costs, changed the management team bringing world class professionals (European sales, sales trading, Asian Research and Asian sales trading); stemmed and reversed trading losses (a roughly £50mn swing); massively narrowed loss ratios; worked closely with corporate broking and ECM (record revenues in both). Besides Europe, was directly and solely responsible for Asian cash equities; transformed a zombie business – <1% market share in HK to +3%, (though still far from its potential). Integrated functions and geographies within the cash business and aligned it closely with primary / ECM.

Global Head of Research

2004 - 2008

Asked to head all Equity research from London. Twelve months later asked to head research across all asset classes. Focused equity research on the identification of alpha through rigorous fundamental analysis and on the re-iteration of significant non-consensus ideas thus aligning the interests of the firm and its clients. Over time, the department became the top producer of alpha in the European markets (Starmine) despite covering some 150 stocks fewer than key competitors.

Head of Equity Research (Asia ex-Japan)

2001 - 2004

Inherited a group with little direction and poor co-ordination between research, sales and trading, let alone secondary and primary. Lots of publication but little effective product. Complete product re-design, re-training of analysts with a market-focused research philosophy and much closer co-ordination across the business.

Head of Equity Research (Japan), Director

2000 - 2001

First Head of Research role in demanding market/culture. Trained most analysts from scratch (many went on to become stars). Limited trading and no primary business meant profitability was poor and the business sub-scale.

Head Asian Bank Research, Director

1996 - 1999

Moved within CS to start from scratch the Asian regional banks team; did so successfully and led the team through the Asian banks crisis. Again, substantial primary exposure.

Senior Research Analyst - European Banks, Director

1994 - 1996

European banks, initially under a sector head and then as the senior analyst. Very substantial exposure to primary (FIG) work. Key role in repair and re-flotation of banks after the Nordic banking crisis.

Equity Analyst - European Financials, VP

1993 - 1993

Covered European financials. Low level of commitment by the firm to Europe, poor economics for the business; headhunted by Credit Suisse.

Equity Analyst - Italy / European Banks

1990 - 1992

Analysis of several sectors in Italy and banks in France and Southern Europe.