Bradley J. Ness
Brad Ness serves as a consultant to John W. Rosenthal Capital Management, Inc.
Mr. Ness has spent his 20+ year career researching and analyzing banks and thrifts. In March 2007, prior to becoming a consultant to us, Brad founded Choral Capital Management, LLC (CCM), an investment management company, and serves as the company’s managing member/CEO. CCM is the investment manager to Choral Financial Fund, LP, a hedge fund where Brad serves as the portfolio manager that focuses on equity investments in the financial services sector.
During his 10 years of working as a sell-side research analyst covering the banking sector, Brad was recognized by The Wall Street Journal as the “Best (bank analyst) on the Street” based on his ability to identify stocks that showed strong price appreciation. Additionally, Brad ranked among the top three analysts in the banking industry according to Forbes.com/StarMine with regard to accurately forecasting earnings per share for the banks which he followed.
Prior to forming CCM, Brad was employed by Friedman, Billings, Ramsey, & Co., Inc. (FBR), a registered broker-dealer located in Arlington, Virginia, from 2003 to 2006. He served as a Senior Vice President and senior sell-side equity research analyst covering micro-, small-, and mid-cap bank and thrift stocks. Ness participated in all aspects of the research process, including company identification, due diligence, management interviews, financial modeling, investment recommendations and setting price targets.
From 1993 to 2003, Brad worked in various capacities for the Chicago-based, boutique brokerage firm of Howe Barnes Investments, Inc. (HBI), which focused its practice dominantly on financial institutions. He worked as a sell-side equity research analyst covering bank and thrift stocks from 1997 to 2003. In this position, he also assisted the internal equity traders with positioning HBI's inventory and served as supervisory analyst for the firm, ensuring that the research department’s product adhered to industry standards and regulations.
Brad worked as an analyst/associate in HBI’s investment banking department from 1994 to 1997, specializing in small- to medium-sized banking institutions. He participated in all aspects of the capital raising and advisory process, including client presentations, fairness opinions, company valuations, SEC filings, and deal pricing. Brad developed all of the department’s financial models, including discounted cash flow models and various impact analysis models taking into account changes in capital structure, mergers, and acquisitions.
During 1993 and 1994, Brad worked with a team of financial advisors who specialized in servicing small trust departments. In this role Brad obtained client investment objectives and recommended suitable individual securities and asset allocation strategies.
Brad received his B.S. in Business Administration with a concentration in Finance from Indiana University, Bloomington, Indiana in 1992 and obtained the coveted Chartered Financial Analyst (CFA) designation in 1996.