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    Brennan Hawken

    Managing Director and Senior Equity Analyst at UBS

    Brennan Hawken is a Managing Director and Senior Equity Analyst at UBS specializing in the financial sector with coverage spanning the US, UK, Canadian, and Australian markets. He analyzes major companies such as Morgan Stanley and Goldman Sachs, with a track record of 63% success rate and an average return of 12.3% per rating, ranking #416 out of 9,440 Wall Street analysts according to TipRanks. Since starting his analyst career in 2016 at UBS, Hawken has accumulated over 670 ratings and is recognized for highly profitable calls, including a 142% return on Morgan Stanley. He holds key industry credentials and is FINRA-registered with multiple securities licenses.

    Brennan Hawken's questions to NORTHERN TRUST (NTRS) leadership

    Brennan Hawken's questions to NORTHERN TRUST (NTRS) leadership • Q4 2024

    Question

    Brennan Hawken sought confirmation on the company's 2025 expense growth target of 5% or better, referencing perceived uncertainty in prior comments. He also questioned if the medium-term Return on Equity (ROE) target of 10-15% is ambitious enough, given recent performance and growth.

    Answer

    Chief Financial Officer David Fox affirmed with 'very strong conviction' that the 2025 expense growth target is at or below 5%, emphasizing the goal of creating a resilient business model. Chairman and CEO Michael O'Grady defended the 10-15% ROE range, stating it balances the pursuit of higher returns with the need to invest in long-term growth, noting they aim for the upper half of that range.

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    Brennan Hawken's questions to STATE STREET (STT) leadership

    Brennan Hawken's questions to STATE STREET (STT) leadership • Q4 2024

    Question

    Requested details on the drivers and risk management of the strong 14% loan growth outlook. Also asked for an explanation of recent deposit beta performance in non-USD currencies and the forward outlook for betas.

    Answer

    Eric Aboaf explained that loan growth is primarily driven by supporting private markets clients through services like cap call financing, which is integral to their strategy and viewed as a benign risk. Regarding betas, he stated the U.S. dollar beta of 60-65% is representative, and that fluctuations in smaller currency pools like euro and sterling are often due to mix and volume changes rather than fundamental shifts.

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    Brennan Hawken's questions to AMTD IDEA (AMTD) leadership

    Brennan Hawken's questions to AMTD IDEA (AMTD) leadership • Q2 2019

    Question

    Brennan Hawken of UBS asked if the company had considered partnering with TD Bank to offer term deposits to clients to improve economics. He also followed up on the Certent partnership, asking about the strategic approach, whether it was white-labeled, and the long-term commitment.

    Answer

    President and CEO Tim Hockey responded that while they have a robust brokered CD offering from many banks, TD Bank is not a large offeror in that space. Regarding Certent, he confirmed it is a white-label partnership and a growth opportunity, albeit a small part of the business. The initial deal is for three years, and they have a dedicated team focused on growing the stock plan services business.

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    Brennan Hawken's questions to AMTD IDEA (AMTD) leadership • Q1 2019

    Question

    Brennan Hawken sought to quantify the company's expense flexibility, including normal seasonal compensation trends, and requested a month-to-date margin balance figure to gauge the market rebound's impact.

    Answer

    CFO Steve Boyle and President and CEO Tim Hockey explained their expense flexibility levers, with Hockey specifying a normal seasonal Q2 expense increase of $10-15 million due to FICA taxes and market-rate comp increases around 3%. Boyle declined to provide intra-quarter data on margin balances, citing disclosure policy.

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