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Brian Bergen

Managing Director and Senior Equity Research Analyst at Cowen Inc.

Brian Bergen is a Managing Director and Senior Equity Research Analyst at TD Cowen, specializing in business and professional services, including HR technology, fintech, and related sectors. He provides in-depth coverage of major publicly traded companies such as Paychex, Priority Technology Holdings, and Endava, with a strong performance record reflected by his participation in high-profile earnings calls and executive forums. Since joining TD Cowen, Bergen has established himself as a thought leader in the industry, previously holding roles in equity research and leveraging years of expertise in fundamental analysis. He holds FINRA registrations, including Series 7, 63, 86, and 87 licenses, and is recognized for his rigorous approach to market insights and company evaluations.

Brian Bergen's questions to Fidelity National Information Services (FIS) leadership

Question · Q3 2025

Brian Bergen noted that Capital Markets appears to be back on track and asked for comments on the loan syndication area and the latest demand trends in non-traditional verticals, inquiring if the underlying backdrop in these areas is as healthy as banking or more mixed. He also asked about prospective banking client conversations in advance of the issuer solutions acquisition, seeking updated views on potential pipeline opportunities and any incremental opportunities arising from competitors' challenges to move quickly post-close.

Answer

CEO Stephanie Ferris confirmed that Capital Markets loan syndication is back on track as expected, with no significant negative trends anticipated for the end of the year. She stated that demand in non-traditional verticals, including private credit, remains healthy and strong. Regarding the issuer solutions acquisition, she expressed continued excitement about cross-sell opportunities to the existing client base, positive feedback on the product and team, and bullishness on the potential for AI enablement across the increased volume of accounts and transactions from credit, debit, and core systems. She looks forward to integrating the business and leveraging its modernization program.

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Question · Q3 2025

Brian Bergen asked for comments on the Capital Markets segment's performance, specifically in the loan syndication area and non-traditional vertical demand, and whether the underlying backdrop in these areas is as healthy as banking or more mixed. He also inquired about how prospective banking client conversations are evolving in advance of the issuer solutions acquisition, seeking updated views on potential pipeline opportunities and incremental opportunities amid others' challenges post-close.

Answer

CEO Stephanie Ferris confirmed that capital markets loan syndication is back on track as expected, with no significant negative trends. She stated that non-traditional markets, such as private credit, remain strong and healthy, with demand similar to banking. Regarding the issuer solutions acquisition, she expressed excitement about cross-sell opportunities to the existing client base post-close, noting positive feedback on the product and team. She highlighted the bullish outlook on leveraging the increased account and transaction volume (across credit, debit, and cores) for AI enablement and agentic commerce, as well as the potential of the modernization program.

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Brian Bergen's questions to CI&T (CINT) leadership

Question · Q2 2025

In a follow-up, Brian Bergen asked if CINT has observed a trend of clients attempting to implement GenAI themselves, finding it too complex, and subsequently returning to CINT for assistance. He also questioned if this trend differed between design-focused and software development activities.

Answer

CEO Cesar Gon responded that CINT encounters a mix of client strategies: some are wary of the complexity, while others aim to build in-house AI capabilities. He emphasized that CINT has value propositions for both scenarios, either by acting as a full-stack partner or by helping clients internalize AI skills using the CINT Flow platform. He noted that Flow is designed to upskill both technical and non-technical professionals, enabling broad AI adoption within a client's organization.

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