Los Angeles, CA – October 2, 2023 – Wedbush Securities, one of the nation’s leading independent diversified financial services providers, is pleased to announce the appointment of Equity Research Analysts, Richard Anderson and Jay Kornreich as Managing Director and Vice President, respectively. Richard and Jay are initiating coverage on 30 names in the Real Estate Investment Trusts (REITs) sector, expanding the firm into a variety of subsectors within the space including office, industrial, multifamily, healthcare, hotels, gaming and ground leases. This launch of coverage bolsters the firm’s award-winning Equity Research team and scope. For a full list of coverage, click HERE.
Prior to joining Wedbush, Richard served PaineWebber, Citigroup, Maxcor Financial, Mizuho and SMBC, fostering a successful career covering REITs. In many of these roles, Richard has built the coverage from the ground-up, turning them into robust, institutional-grade research platforms, and gaining a reputation for exploring unconventional viewpoints within the industry. In his role at SMBC, Richard met seasoned Equity Research Analyst Jay Kornreich, who had previously held notable roles at Bloomberg and Cantor Fitzgerald. Jay’s diverse financial background grants him a true understanding of real estate dynamics, providing insight on the foundational factors that underpin REITs’ long-term narrative. At SMBC, the team built the REITs platform together, developing coverage of the space into a strong focal point of analysis. They bring this experience to Wedbush, expanding the firm into the sector. Rich states, “With the ever-evolving capital markets landscape, I know the significance attributed to commercial real estate across various industry sectors. I am excited about the opportunity to cultivate this emerging area of research here at Wedbush.”
Kevin Merritt, Wedbush Securities’ Director of Research says, “We are pleased to announce Richard and Jay’s appointments, and their initiation of the REITs space. Their collective experiences and skillsets make them the ideal team to lead our exploration into this previously uncharted territory for Wedbush Securities.”
Richard received his bachelor’s degree in Aerospace Engineering from the University of Maryland, and his MBA in Finance from Monmouth University. Jay received his bachelor’s degree from the University of Michigan. Both Richard and Jay are based in Wedbush’s New York office.
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Managing Director, Equity Research
Vice President, Equity Research
About Wedbush Securities
Wedbush Securities is the largest subsidiary of Wedbush Financial Services. Since its founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services. Headquartered in Los Angeles, California with 100 registered offices and nearly 900 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology.