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Dan Fannin

Senior Research Analyst at Jefferies

Daniel Fannon is a Senior Research Analyst at Jefferies, specializing in the financial sector with a focus on asset management, market structure, and trading industries. He covers specific companies including SCHW, BLK, AMG, Morgan Stanley, MarketAxess, and Marex Group, achieving a strong performance track record with a 72% success rate, average return of 15.6% per rating, and a top ranking of 151 out of 41,736 analysts on TipRanks, highlighted by a +129% return on his Buy rating for Marex Group. Fannon has been issuing recommendations since at least 2013, consistently affiliated with Jefferies throughout his visible career analyzing finance-related firms. His professional credentials include recognition as a top Wall Street analyst with extensive coverage of over 50 stocks.

Dan Fannin's questions to FEDERATED HERMES (FHI) leadership

Question · Q4 2025

Dan Fannin asked about Federated Hermes' product development strategy for MDT, focusing on new products and proliferation into different wrappers and markets. He also sought clarification on the Q1 2026 revenue impact from fewer days and the recurrence of Q4 2025 real estate development fees.

Answer

Chris Donahue, President and CEO, explained that MDT product development primarily involves expanding into new wrappers (ETFs, CITs, UCITS) and new markets (e.g., overseas via UCITS), leveraging existing investment expertise. Tom Donahue, CFO, confirmed the $10.2 million lower revenue in Q1 2026 from fewer days impacts management, advisory, and distribution fees. He noted that the $8.2 million real estate development fees from Q4 2025 were unusual but might see a smaller recurrence (around $2 million) in Q1 2026.

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