Bloomberg has reported that, CBA graduate, Jeffrey Sprague ‘98, is forming a boutique equity research firm, aimed at shedding the bureaucracy of Wall Street.
Sprague, the top multi-industry analyst each year of the past decade in the annual Institutional Investor poll, told Bloomberg reporter, Rachel Layne, “It just felt to me that it was time for Wall Street to go back to its partnership roots, to create a new culture of small firms with partners that have skin in the game. They’ve got a singular focus -- their clients.”
Sprague’s Stamford, Connecticut-based firm, Vertical Research Partners LLC, will start with 16 companies including General Electric Co. and 3M Co. The firm plans to expand slowly to cover more than 20 companies in adjacent areas like capital goods and may eventually include capital structure and options research.
A 22-year Wall Street veteran, Sprague was an analyst at Citigroup, Inc. for a dozen years. He previously worked at Cowen & Co. and Paine Webber Group Inc. He also served four years in the U.S. Army in the second armored division, as well as an additional four years in the Ohio National Guard.
Sprague graduated from UA in 1998 with a bachelor’s degree in finance and a minor in economics.