WOOD & Company - Leading independent Investment Bank in Central and Eastern Europe.

Research Team

Robert Rethy, CFA - Head of Research


Robert Rethy, CFA - Head of Utilities Research

Market experience: >13 years

Robert joined WOOD & Co. in January 2011 as Head of Energy Research and assumed the position of Head of Research in August 2014. Robert initiated WOOD’s coverage of the CEE Oil & Gas sector in September 2011. From 2012, coverage has been expanded to include several E&P independents and now cover stock opportunities in the oil & gas sector across emerging and frontier EMEA. He is now heading Wood’s top-rated CEE research team of 15+ analysts.
Robert was previously at UniCredit and its forerunner, CAIB, in Budapest for 11 years, specialising in the EME Oil & Gas sector. Whilst at UniCredit, he composed the SPO research on Petrol Ofisi and Petkim in Turkey. Prior to CAIB, he spent four years at various local brokerages in Budapest. He has been consistently ranked in the Extel and Institutional Investors’ surveys since 2002, most recently ranked as a no. 1 CEE analyst in the 2013 Extel Survey. Robert has a degree in Finance from the Budapest University of Economics.

Erik Hegedus - Research analyst


Erik Hegedus - Research analyst

Market experience: >9 years

Erik Hegedus has more than nine years' experience as a sell-side equity analyst. Prior to joining WOOD & Co in September 2010, Erik was part of the ranked French Small & Mid-Caps Research team based in Paris for more than eight years. The Paris unit formed part of the top-three ranked Citigroup European Small & Mid-Cap team. During that time, he covered a wide spectrum of companies on a stock-picking basis and was well-used to screening universes for good ideas, including a large-theme piece on opportunities in Frontier Emerging Markets. Before this, Erik was briefly a junior analyst at Deutsche Bank. At WOOD & Co, Erik is part of the Consumer/ Industrials team, currently covering Philip Morris CZ, Fortuna and DO&CO Restaurants and Catering. A Slovak national, he is fluent in French, English, German and Czech.

Carsten Hesse - Equity Strategist


Carsten Hesse - Equity Strategist

Carsten has six years’ London/Frankfurt-based sell-side and investment banking experience and joined the Equity Strategy team of WOOD & Co in London in mid-May 2010. Prior to that, he worked with Mark Robinson in the award-winning EME Equity Strategy team at UniCredit. Carsten has gained analytical and deal experience in ECM, including CBS at UniCredit, JP Morgan, and RBS in London and Frankfurt. Carsten graduated with a Diploma in International Finance and Management Accounting from the University of Applied Sciences in Pforzheim, Germany.

Bram Buring, CFA - Utilities/Pharmaceuticals Research

Bram Buring, CFA - Utilities/Pharmaceuticals Research

Market experience: >13 years

Bram first joined WOOD & Co in 2005 as one of a team hired to re-launch its regional Sales Research business; within two years, he had initiated coverage of over 15 Pharmaceutical, Oil & Gas and Utility stocks across five CEE markets. Most recently, he was rated #13 among the 25 analysts in the region in the 2012 Extel Survey. In addition to his regional healthcare stocks, Bram also covers Polish resource stocks and shares the responsibility for the coverage of two key Czech blue chips – CEZ and NWR.

Marta Jeżewska-Wasilewska - Head of Research Poland, Financials Research

Marta Jeżewska-Wasilewska -  Head of Research Poland, Financials Research

Market experience: >7 years

Marta is an experienced and well known to the polish capital market profesional with more than seven years of experience in the field. Ex-VP of equity research department at Credit Suisse and a habitue of many prestigous analyst rankings. Marta joined WOOD & Co. in 2013 bringing strong commercial focus and a very high standing with both Polish and International client base developed over years at CSFB and BRE Bank.

Alexandros Boulougouris - Greece Research


Alexandros Boulougouris - Greece Research

Market experience: >15 years

Alex joined Wood in 2014 following more than 15 years of experience in equity research and portfolio management. Prior to joining Wood, Alex was a senior equity analyst at Credit Agicole Cheuvreux and then run a EUR1.1 bn global portfolio for Greek public pension funds. Consistently ranked in top positions in EXTEL, Institutional Investors and client voting surveys.

Lucian Albulescu, CFA - Romania Research


Lucian Albulescu, CFA - Romania Research

Market experience: >8 years

Before joining WOOD & Co in 2013, Lucian has been working as an equity research analyst at KBC Securities for the past seven years, covering the Romanian market as well being involved in coverage of the CEE real estate, construction and mining. He covers the blue chip Bucharest Stock Exchange listed companies. Lucian holds a Master’s degree from the Academy of Economic Studies in Bucharest and a bachelor’s degree from Universite d’Orleans and is also CFA charterholder.

Yuriy Kukhtanych - Oil & Gas


Yuriy Kukhtanych - Oil & Gas

Market experience: 3 years

Yuriy has gained some truly international experience by working for our London, Warsaw and Prague offices for the past two years, and is currently expanding our coverage universe in the Oil&Gas sector. Yuriy is a graduate of the University of Warsaw and the Edinburgh IFS School of Finance, a CFA Level III Candidate and an alumnus of the national scholarship at the Academy of Capital Market Leaders in Warsaw. He is fluent in four languages (Polish, English, Russian and Ukrainian).
Yuriy started his coverage with initiation on four operators in Kurdistan region of Iraq – Genel, DNO, GKP and WesternZagros.

Ondřej Cabejšek - EME TMT


Ondřej Cabejšek - EME TMT

Market experience: >1 year

Ondrej joined the WOOD & Co. research team in 2013 and has assumed early responsibility in covering TMT stocks in the region, helping to expand coverage to Turkish and Greek telecoms. Ondrej holds an MSc in Finance from The Stockholm School of economics and has also studied at the University of Virginia’s Darden Graduate School of Business. Ondrej has previous experience in media and banking. He is fluent in Czech, English and comfortable with Portuguese.

Gabriela Burdach - Consumer Research


Gabriela Burdach - Consumer Research

Market experience: >5 years

Gabriela Burdach has more than five years' experience as a sell-side equity analyst. Prior to joining WOOD & Co in May 2012, she was an equity analyst at BRE Securities. Gabriela covered consumer companies listed at WSE and participated in varius IPOs. Gabriela was also afinancial analyst at Copernicus Securities. At WOOD & Co, Gabriela is part of the Consumer team.

Jakub Caithaml - Real Estate


Jakub Caithaml - Real Estate

Market experience: junior

Jakub joined the WOOD & Co. research team in June 2011. He is currently expanding our Real Estate coverage. So far, Jakub initiated on Warimpex and Immofinanz.

Andy Jones - Metals/Mining


Andy Jones - Metals/Mining

Market experience: >6 years

Andrew joined Wood in 2014 as the lead analyst for Eastern European Metals & Mining. He was previously a gold and base metals analyst with Otkritie and Renaissance Capital and holds a Masters in Chemical Engineering from Cambridge University. Andrew plans to broaden Wood’s coverage of the M&M sector including base metals, gold and steel across CE3, Russia and Turkey.