External CEO Changes historically have high dispersion.
2 Years After External CEO Change Announcement:
Alpha vs. S&P 500
For each external CEO Change in the Russell 1000:
Clients receive an Investment Memo, a Background Check, and
Full Transcripts with Interviews of a CEO's former colleagues
Each Memo provides investors a view on a company’s prospects based on fundamentals and the new CEO’s propensity to create or destroy sharheolder value.
Diligence & Interviews
Our Diligence & Interviews leverage vetted investigative partners to reveal a holistic view on who the CEO is, how they live, and what their strengths and weaknesses as leaders are.
Our in-depth reports consistently deliver for Clients
“We’ve been doing this for a decade – they clear the bar for quality and inclusion in our process.”
$6bn Fundamental Firm
“Saved us on a top 10 position when they convincingly proved the new CEO’s unsuitability for the task ahead.”
$16bn Long Short
“Honestly the performance speaks for itself.”
$2bn Value with a Catalyst Fund
Against the rise of passive and quantitative approaches, we’re part of the movement dedicated to active management outperformance.
Uncommon Idea Generation
We search for opportunistic events surrounding corporate executives, such as CEO change, and perform proprietary analyses to help you generate alpha.
Proven Buyside Analysis
Our team of experienced buyside portfolio managers and analysts seek to assess situations likely to result in material changes in value.
Accelerated Decision Making
We filter and synthesize proprietary information so you can seamlessly integrate our research into your investment process.
Frequently Asked Questions
Who is the team conducting the research?
Our research team all comes from the buyside. All of them had made money on management expertise and c-suite change. We have over 50+ years of cumulative investing experience.
How is this different than our expert networks we use?
90% of our sources are unpaid and are much less likely to have been contacted by 100 other funds. Our analysts select the 7-10 individuals who we think would be most helpful.
We then employ ex-Wall Street Journal reporter with Hedge Fund primary source experience to conduct the interviews. Our team is extremely talented in getting high-level former colleagues on the phone and eliciting information about the CEO's past.
We provide a custom question list that we iterate on interview after interview.
Are you more than just an interview and background check service?
External CEO Change is all we do. We know the questions to ask (based on fundamental research and how external ceo changes work in general). We know who is best placed to ask those questions (ex wall street journal). And we know how to quantify the information we learned in interviews. Our interviews on their own contain insights you normally wouldn’t uncover. But our memo takes those interviews, integrates quotes, insights, quantification, and fundamental work to come up with a view