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    William Tang

    Research Analyst at SIG

    William Tang is an Equity Research Analyst at Susquehanna International Group (SIG), specializing in the coverage of major Latin American financial technology companies such as Nubank. Known for in-depth sector expertise, he is recognized for his analysis of high-growth fintechs in the region. Tang joined SIG after building a solid track record in financial equity research and continues to provide investors with actionable insights into company fundamentals and market outlooks. He maintains professional credentials supported by industry standards and securities regulatory requirements.

    William Tang's questions to Nu Holdings (NU) leadership

    William Tang's questions to Nu Holdings (NU) leadership • Q3 2024

    Question

    William Tang inquired about the competitive market for secured lending in Brazil and how Nu's operating dynamics and customer stickiness differ in this segment compared to its success in unsecured lending.

    Answer

    CFO Guilherme Marques do Lago detailed Nu's encouraging progress, particularly in FGTS-backed loans where it has already captured an estimated 25% market share of new originations. He attributed this to a successful direct-to-consumer digital model. For public payroll loans, he outlined a roadmap of adding new collateral agreements to cover over 70% of the TAM. He stated Nu's competitive edge comes from a superior UX/UI and a lower cost structure, allowing for better pricing and high price elasticity.

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    William Tang's questions to ICL Group (ICL) leadership

    William Tang's questions to ICL Group (ICL) leadership • Q1 2023

    Question

    William Tang, on behalf of Morgan Stanley, inquired about the specific demand drivers for polysulphate that differentiate it from commodity fertilizers and asked about its current profitability. He also requested an update on the production ramp-up schedule at ICL Iberia following the recent incident.

    Answer

    President and CEO Raviv Zoller explained that polysulphate demand is driven by its good solubility, high sulfur content, and its organic certification, which is increasingly valued by customers. He noted that its prices are holding up well despite falling commodity fertilizer prices. Regarding ICL Iberia, Mr. Zoller confirmed the target to reach a 1 million tons run rate by the end of 2023 remains unchanged. However, he acknowledged ongoing geological challenges will persist for another 9-10 months, but stated that existing inventory will allow the company to meet its full-year sales forecast of 4.7 to 4.8 million tons.

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