Consumer – Building & Construction : First
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Consumer – Building & Construction : First

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Paul Roger

& team

Exane BNP Paribas

"They do a great job of incorporating a global view in their research."

The team at Exane BNP Paribas retakes the summit after a year in second place. Consisting of five London-based analysts under the direction of Paul Roger, 36, and five regional specialists working out of Brussels, Madrid and Milan, the crew members monitor 30 stocks and plan to add several more in the coming year. Known for their "value-added views of cement dynamics," as one portfolio manager in New York puts it, they astutely upgraded France's Lafarge from neutral to outperform in May, at €29.45, on improving volumes in emerging markets and rising cash generation deriving from better pricing. By late December shares of the cement supplier had risen 63.8 percent, to €48.23, and shot past the sector by 47.5 percentage points. The analysts remain bullish. Before joining Exane BNP Paribas in 2010, Roger covered the sector for ING Financial Markets in London; he earned a bachelor of arts degree in history at England's University of Durham. — Ben Mattlin


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