Elizabeth J. Howell Hanano, CFA
Finance Expert
Location
Annapolis, MD, United States
Toptal Member Since
August 21, 2017
As an equity analyst, Elizabeth carried out stock selection for $1 billion of assets and was part of an equity research team that was awarded Wall Street Journal’s "Best on the Street". Elizabeth specializes in financial modeling and market research.
Elizabeth is available for hire
Hire ElizabethCareer Highlights
Equity Analyst
Systematic Financial Management
Senior Equity Research Associate - Semiconductors
Raymond James
Equity Research Associate - Airlines
Raymond James
Education
Bachelor's Degree
University of Pennsylvania
Select Certifications
Chartered Financial Analyst (CFA)
CFA Institute
Case Studies
High-Level Analysis of New Technology
TechnologyMarket Research & Analysis
Industry Expertise
FinanceCosmetics, Beauty Supply & Personal Care ProductsRetailApparel & Accessories RetailTransportationAirlines, Airports & Air ServiceseCommerceFinancial ModelingOther Expertise
Comparable Company AnalysisCompetitor Analysis & ProfilingFinancial ModelingMergers & Acquisitions (M&A)ValuationWork Experience
2013 - 2017
Equity Analyst
Systematic Financial Management
- Carried out the stock selection for a $1 billion sleeve of a $14 billion portfolio of long-only equity investments.
- Analyzed industry data to understand business trends, competitive dynamics, and regulatory changes across a wide swath of industries (market caps ranging from $100 million to $700 billion) in order to determine the key drivers for companies and their industries. Laid out findings in a clear, accessible and interesting manner.
- Developed a proprietary investment framework to determine the most attractive companies and industries.
- Worked with C-level management teams to help sharpen their investor messaging and advised on growth plans as well as M&A opportunities.
- Created extensive financial models and employed multiple valuation techniques including comparable company analysis, DCF, SOTP, and transaction analysis.
- Consistently ranked in the top three analysts in terms of stock returns versus benchmark.
Focus areas: Market Research, Equity Research, Growth Equity, Valuation, Financial Benchmarking, Comparable Company Analysis, Business Planning, Financial Modeling, Capital Structure Analysis, Mergers & Acquisitions (M&A)
2012 - 2013
Senior Equity Research Associate - Semiconductors
Raymond James
- Assessed 20+ semiconductor companies which involved in-depth analyses of industries, independent financial forecasting, interviews with executive management teams, investment recommendations publication, and communication with institutional investors.
- Presented stock recommendations to institutional clients (e.g., hedge funds, mutual funds) with a tailored message specific to client interests (e.g., longer-term vs. shorter-term, growth vs. value investors).
- Ranked in the top ten of ~80 associates in the May 2013 Institutional Equity Salesforce vote for associates; received multiple recommendations for a promotion to an analyst position.
- Participated in advising Mindspeed on its acquisition of Picochip as well as on its convertible senior notes offering. Also participated in the IPO process for MA-COM Technology Solutions (MSTI). Both Mindspeed and MTSI work included researching and writing in-depth initiations of coverage reports.
- Coordinated with other technology teams to create an in-depth report simplifying small cell technology and the ways it would impact various industries and companies.
Focus areas: Growth Capital Raising, Profitability Analysis, Market Research, Valuation, Three-statement Modeling, Financial Modeling, Revenue & Expense Projections, Capital Structure Analysis, Comparable Company Analysis, Equity Research, Capital Markets, Capital Raising, Mergers & Acquisitions (M&A)
2010 - 2012
Senior Equity Research Associate - Softline Retail
Raymond James
- Researched and wrote reports on 20+ apparel retailer and beauty companies which involved in-depth analyses of industries, independent financial forecasting, interviews with executive management teams, investment recommendations publication, and communication with institutional investors.
- Ranked in the top 15 of ~80 associates in the Institutional Equity Salesforce vote in 2011 and 2012.
- Created marketing slide decks to concisely depict industry trends, comparable company analyses and specific company investment theses.
Focus areas: Three-statement Modeling, Revenue & Expense Projections, Market Research, Capital Markets, Growth Capital Raising, Valuation, Equity Research
2008 - 2010
Equity Research Associate - Airlines
Raymond James
- Researched and composed reports on 20+ low-cost, regional, and legacy airlines in Latin America, Europe, and the U.S.
- Participated in the Initial Public Offering (IPO) processes for Spirit Airlines and Multiplus, the follow-on offering for GOL, a valuation assignment for Volaris, and multiple follow-on offerings for AirTran.
- Served on team that received Wall Street Journal’s "Best on the Street" award.
- Formed strong working relationships with management teams, consistently securing CEO attendance at the Raymond James annual Growth Airline conference.
Focus areas: Capital Markets, Growth Capital Raising, Valuation, Profitability Analysis, Three-statement Modeling, Market Research, Revenue & Expense Projections, Equity Research, Financial Modeling, Capital Structuring, Mergers & Acquisitions (M&A)
Other Experience
Publication
How to Be an Amazing Financial Consultant
https://www.toptal.com/finance/freelance/amazing-financial-consultant
Publication
Legal Sports Betting: A New Economy Built on Vice
https://www.toptal.com/finance/market-research-analysts/legal-sports-betting
Publication
How to Get Consulting Clients – An Interview with Steve Blank
https://www.toptal.com/finance/freelance/how-to-get-consulting-clients
Publication
2017 Holiday Spending Forecast: Will Be Better Than Expected
https://www.toptal.com/finance/equity-research-analysts/holiday-spending
Publication
Pearls of Wisdom - The Best Shareholder Letters Nobody Is Reading
https://www.toptal.com/finance/equity-research-analysts/best-shareholder-letters
Publication
Green for Takeoff: Inside the Electric Airplane Industry
https://www.toptal.com/finance/market-research-analysts/electric-airplanes
Publication
Valuation Ratios: The Key Metrics Finance Experts Need to Know
https://www.toptal.com/finance/valuation/valuation-ratios
Publication
How to Recreate the Resources of a Bloomberg Terminal for Free
https://www.toptal.com/finance/freelance/bloomberg-terminal-alternative
Publication
Corporate Venture Capital: The Devil...or an Innovative Growth Channel?
https://www.toptal.com/finance/venture-capital-consultants/corporate-venture-capital
Publication
Financial Modeling Case Study: OOVA
https://www.toptal.com/finance/financial-modeling/financial-modeling-case-study
Education
2008 - 2008
Series 7, 63, 86, 87 Certifications in Finance
FINRA - USA
2002 - 2006
Bachelor's Degree in Health Care Markets and Finance
University of Pennsylvania - Philadelphia, PA, USA
Certifications
AUGUST 2014 - PRESENT
Chartered Financial Analyst (CFA)
CFA Institute