Nick read Economics and Politics at Bristol University and began his career in the oil industry, working for BP and Saudi Aramco. He subsequently transferred to the financial services industry, spending 16 years as an equity investment analyst, specialising in oil and gas companies.
He was responsible for the European oil and gas research teams for a number of investment banks, notably ABN-Amro Hoare Govett, BZW and finally, Morgan Stanley, where he worked during the latter part of the 1990s. At Morgan Stanley, he was personally responsible for writing investment research on the European integrated oil majors, and for marketing it to investment institutions globally.
This period coincided with a dramatic concentration of the industry, via wide-spread mergers, in which Morgan Stanley was a prominent advisor. Nick’s team wrote extensively on the drivers to corporate activity and its likely consequences.
Since 2000, Nick has combined financial training with consultancy in equity valuation and corporate finance, both general and specific to the oil and gas industry. His background in asset and company modelling is reflected in courses with a strong emphasis on spreadsheet models to derive forecasts and valuations.
He has co-authored, with Robert Arnott, an introduction to the oil and gas industry aimed at financial professionals, with particular emphasis on measuring company performance and deriving stock market values, ‘Valuing Oil and Gas Companies’ (Woodhead Publishing, 1994 & 2000).
He has co-authored, with Kenneth Lee, a comprehensive introduction to techniques for company forecasting and valuation, along with the interpretation of financial statements published under the International Financial Reporting Standards, ‘Company valuation under IFRS’ (Harriman House, 2005 & 2008). A Russian translation is available.