High-energy shipping analyst Randy Giveans has told clients he is leaving investment bank Jefferies after 11 years.
TradeWinds understands Jefferies is moving swiftly to fill the post, and two sources pointed to veteran Clarksons Platou Securities analyst Omar Nokta as his successor.
Giveans did not identify his new position in a message to senior management teams on Monday, but it is expected to be with a shipowner.
Giveans and Jefferies have coverage of 29 US-listed owners across tankers, bulkers, container ships and LNG and LPG carriers, making the research platform one of the broadest in shipping.
The shop is also heavily active in investment banking and advisory/merger and acquisition work through veteran finance man Doug Mavrinac.
“Jefferies is certainly committed to shipping equity research — they were surprised when I told them and they made it a very difficult decision for me to leave — and the firm is in the process of hiring a new senior analyst to replace me,” Giveans told clients on Monday.
“My departure is not a sign of me turning bearish on shipping; rather, I remain bullish on the industry and am putting my career where my mouth has been this past decade. Stay tuned for further details coming soon.”
Giveans honed his craft from a base in Houston, Texas, and quickly gained a reputation as one of the hardest-working researchers in the sector.
As TradeWinds has reported, his energy and enthusiasm have spilt over into the athletic arena, with four top-10 finishes in the Wall Street D10 Decathlon, a gruelling series of events that unofficially determines the fittest man and woman in the US financial community.
Giveans has been assisted in his research by associates Christopher Robertson and Chadd Tribo, who will remain in place following his last Jefferies workday on Monday.
“I’ve really enjoyed being an equity research analyst in this dynamic industry, and I am so glad to have been able to work with you, and more importantly, get to know you, throughout the years,” Giveans told clients, saying the departure was “bittersweet” but expressing excitement “for the next adventure”.
If Jefferies has indeed landed Nokta, it will be viewed as a strong statement about its continued commitment to shipping.
Nokta returned to head US-based research for Clarksons Platou after serving three years as an investment banker for the firm. But his research days go back as far as a junior position with boutique bank Dahlman Rose in 2004.
He also headed shipping coverage at Seaport Global Securities.
Nokta declined to comment when reached by TradeWinds on Monday.
