The 2015 All-Europe Research Team: Tobacco, No. 3: Adam Spielman & team
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The 2015 All-Europe Research Team: Tobacco, No. 3: Adam Spielman & team

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Citi’s European tobacco squad under the direction of Adam Spielman rebounded to the top of this lineup last year but now tumbles back to third place.

< The 2015 All-Europe Research Team

2015-03-tom-johnson-all-europe-research-team-adam-spielmanl.jpg

Adam Spielman & team

Citi

First-place appearances: 6


Total appearances: 16


Team debut: 1986


Citi’s European tobacco squad under the direction of Adam Spielman rebounded to the top of this lineup last year but now tumbles back to third place. The 48-year-old crew chief, who directs coverage from his base in London, is hailed by one investor for his “in-depth sector know-how.” His team is negative on Swedish Match, a manufacturer of snus smokeless tobacco and mass-market cigars. Sweden is raising taxes on snus products, which the analysts believe will encourage consumers to switch to less expensive brands, challenging Swedish Match’s share of its core market.



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