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    Mike Carrier

    Senior Equity Research Analyst who previously served at Bank of America Merrill Lynch

    Mike Carrier is a Senior Equity Research Analyst who previously served at Bank of America Merrill Lynch, specializing in financial sector coverage with a focus on brokers, asset managers, and exchanges. Over his career, he covered a wide range of companies including Intercontinental Exchange, Morgan Stanley, Charles Schwab, and AMTD IDEA, earning recognition for his encyclopedic sector knowledge and securing a top-three analyst ranking in Institutional Investor's All-America Research Team. Carrier joined BofA Merrill Lynch in October 2012 from Deutsche Bank Securities, with prior experience at UBS, and departed in 2021 to join Fiera Capital; he holds a CFA designation and a bachelor’s degree in Finance and Accounting from The Ohio State University. Noted for his broad expertise, extensive stock coverage, and consistently positive investor feedback, Carrier is also FINRA-registered and recognized for his longevity and impact in equity research.

    Mike Carrier's questions to AMTD IDEA (AMTD) leadership

    Mike Carrier's questions to AMTD IDEA (AMTD) leadership • Q4 2019

    Question

    Mike Carrier from Bank of America Merrill Lynch asked how the company plans to maintain flat expenses while growing net new assets and what is needed to enhance offerings for high-net-worth and RIA clients.

    Answer

    CFO Steve Boyle detailed expense control measures, including focusing on core competencies, shutting down non-core businesses like Investools, and enhancing automation. President & CEO Tim Hockey added they are eliminating services clients don't value. For high-net-worth clients, Tim Hockey mentioned developing donor-advised funds and other services, while Steve Boyle noted they are creating premium paid services for engaged investors.

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    Mike Carrier's questions to AMTD IDEA (AMTD) leadership • Q1 2019

    Question

    Mike Carrier questioned the normalization timeline for margin balances following market volatility and asked about the flexibility in expense management relative to revenue performance and investment opportunities.

    Answer

    CFO Steve Boyle and President and CEO Tim Hockey explained that margin balances typically recover more slowly than they fall and that they were already seeing this trend. Boyle elaborated on expense flexibility, stating that while they invest more in strong environments, recent tech investments provide an ongoing benefit to the cost run rate, allowing them to manage expenses down prudently if revenue slows.

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