Elizabeth J. Howell Hanano, CFA, Finance Expert in Annapolis, MD, United States
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Elizabeth J. Howell Hanano, CFA

Verified Expert  in Finance

Finance Expert

Location
Annapolis, MD, United States
Toptal Member Since
August 21, 2017

Elizabeth has around 15 years of experience in finance, consulting, and doggedly finding answers to things most people consider "too hard." She thrives at competitive analysis, valuation, growth strategies, pitch decks, and financial models and forecasts. She started in equity research at the investment bank Raymond James. She moved to a hedge fund before becoming an independent financial consultant. Elizabeth is also a business writer; she managed Toptal's Finance Blog for nearly six years.

Career Highlights

Equity Analyst
Systematic Financial Management

Education Highlights

Bachelor's Degree
University of Pennsylvania

Certification Highlights

Case Studies

Work Experience

Lead Finance Blog Editor

2017 - 2021
Toptal
  • Led the Toptal Finance Blog team, which consisted of 3-4 editors and the Toptal consultant network.
  • Worked with Toptal consultants to determine a topic based on their expertise, tie it in with what our audience would want to read, and ensure a cohesive narrative based on fact as well as the author's unique anecdotes and insights.
  • Used various proprietary unpaid methods to grow our readership. Created relationships with other publications to syndicate our work, secured interviews with top thinkers (Steve Blank), and created a specific marketing plan for each post.
  • Peer-reviewed all articles personally or found another expert to do so.
  • Researched and wrote blog posts that tied into Toptal's business goals.
  • Was on the Toptal Speakers Network, Toptal Writing Academy Instructor, and Toptal Cultural Ambassador.
  • Excelled in Google Analytics, Google AdWords, and SEO.
Focus areas: Writing & Editing, Content Writing, Research, Market Research, Management, Marketing, Financial Writer, Google Analytics, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting

Equity Analyst

2013 - 2017
Systematic Financial Management
  • Carried out the stock selection for a $1 billion sleeve of a $14 billion portfolio of long-only equity investments.
  • Analyzed industry data to understand business trends, competitive dynamics, and regulatory changes across a wide swath of industries.
  • Developed a proprietary investment framework to determine the most attractive companies and industries.
  • Worked with C-level management teams to help sharpen their investor messaging and advised on growth plans as well as M&A opportunities.
  • Created extensive financial models and employed multiple valuation techniques, including comparable company analysis, DCF, SOTP, and transaction analysis.
  • Consistently ranked in the top three analysts regarding stock returns versus benchmark.
Focus areas: Market Research, Equity Research, Growth Equity, Valuation, Financial Benchmarking, Comparable Company Analysis, Business Planning, Financial Modeling, Capital Structure Analysis, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Revenue & Expense Projections, Cosmetics, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, eCommerce, Forecasting, Revenue Modeling, Apparel & Accessories, Factset, Bloomberg, Financial Services, United States, Capital IQ, Capital Raising, Retail & Wholesale, Research, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Semiconductors, Unit Economics, Market Research Analyst, Three-statement Modeling, Private Equity Consultant, Profitability Analysis, Market Research & Analysis, Finance, Beauty Products, Budget Modeling, Business Modeling, Consumer Insights, Growth Strategy, Competitor Analysis & Profiling, Aircraft & Airlines, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis

Senior Equity Research Associate - Semiconductor

2012 - 2013
Raymond James
  • Assessed 20+ semiconductor companies, which involved in-depth analyses of industries, independent financial forecasting, comparable company valuation, market research reports, company research reports, slide decks, and management consulting.
  • Participated in advising Mindspeed on its acquisition of Picochip as well as on its convertible senior notes offering. Created market research report, comparable company analysis, M&A analysis, and financial models.
  • Participated in the IPO process for MACOM Technology Solutions (MTSI). Created an analog semiconductor research report, researched market position pricing, developed financial models, and completed comparable company analysis.
  • Researched and wrote an in-depth report simplifying small cell technology and how it would impact various industries and companies.
  • Ranked in the top ten of around 80 associates in the May 2013 Institutional Equity Salesforce vote for associates; received multiple recommendations for a promotion to an analyst position.
  • Presented stock recommendations to institutional clients (e.g., hedge funds, mutual funds) with a tailored message specific to client interests (e.g., longer-term vs. shorter-term, growth vs. value investors).
Focus areas: Growth Capital Raising, Profitability Analysis, Market Research, Valuation, Three-statement Modeling, Financial Modeling, Revenue & Expense Projections, Capital Structure Analysis, Comparable Company Analysis, Equity Research, Capital Markets, Capital Raising, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, Forecasting, Revenue Modeling, Factset, Bloomberg, United States, Capital IQ, Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Semiconductors, Unit Economics, Market Research Analyst, Market Research & Analysis, Finance, Budget Modeling, Business Modeling, Growth Strategy, Competitor Analysis & Profiling, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis

Senior Equity Research Associate - Softline Retail

2010 - 2012
Raymond James
  • Wrote research reports on 20+ apparel retailers and beauty companies, including company and industry research, building 3-statement models with detailed inputs, pitch decks, and valuation analysis.
  • Ranked in the top 15 of around 80 associates in the Institutional Equity Salesforce vote in 2011 and 2012.
  • Created marketing slide decks to concisely depict industry trends, comparable company analyses, and specific company investment theses.
Focus areas: Three-statement Modeling, Revenue & Expense Projections, Market Research, Capital Markets, Growth Capital Raising, Valuation, Equity Research, Financial Modeling, Pitch Decks, Fundraising, Cosmetics, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, eCommerce, Forecasting, Revenue Modeling, Apparel & Accessories, Factset, Bloomberg, United States, Capital IQ, Capital Structure Analysis, Capital Raising, Retail & Wholesale, Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Capital Structuring, Unit Economics, Market Research Analyst, Mergers & Acquisitions (M&A), Private Equity Consultant, Profitability Analysis, Market Research & Analysis, Finance, Beauty Products, Budget Modeling, Business Modeling, Consumer Insights, Growth Strategy, Competitor Analysis & Profiling, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis

Equity Research Associate - Airlines

2008 - 2010
Raymond James
  • Participated in the Initial Public Offering (IPO) processes for Spirit Airlines. Created financing structure models, 3-statement projections, comparable company analysis, a market research report on low-cost carriers, and a pitch deck for investors.
  • Participated in the Initial Public Offering (IPO) processes for Multiplus. A Brazilian airline, TAM, wanted to spin off its frequent flyer business, Multiplus. Created valuation analysis and research reports.
  • Completed a valuation assignment for Volaris as well as multiple follow-on offerings for AirTran.
  • Wrote research reports on 20+ low-cost, regional, and legacy airlines in Latin America, Europe, and the US. Included financial forecasts, comparable company analysis, pitch decks, and valuation assessment.
  • Received Wall Street Journal's "Best on the Street" award together with the team.
  • Formed strong working relationships with management teams, consistently securing CEO attendance at the Raymond James Annual Growth Airline conference.
Focus areas: Capital Markets, Growth Capital Raising, Valuation, Profitability Analysis, Three-statement Modeling, Market Research, Revenue & Expense Projections, Equity Research, Financial Modeling, Mergers & Acquisitions (M&A), Pitch Decks, Fundraising, Financials, Stock Analysis, Excel Modeling, Business Strategy, Communication, Microsoft PowerPoint, Microsoft Excel, Forecasting, Revenue Modeling, Factset, Bloomberg, United States, Capital IQ, Capital Structure Analysis, Capital Raising, Transportation & Shipping, Latin America (LATAM), Research, Business Planning, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Modeling, Equity Investment, Company Research, Company Strategy, Unit Economics, Market Research Analyst, Market Research & Analysis, Finance, Budget Modeling, Business Modeling, Growth Strategy, Competitor Analysis & Profiling, Aircraft & Airlines, DCF Valuation, Asset Valuation, Financial Writer, Stock Price Analysis, Public Companies, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Cost Reduction & Optimization (Cost-down), Turnaround Consultant, Turnaround Management, Equity Research Analysis, Investment Analysis
2008 - 2008

Series 7, 63, 86, 87 Certifications in Finance

FINRA - USA

2002 - 2006

Bachelor's Degree in Health Care Markets and Finance

University of Pennsylvania - Philadelphia, PA, USA

SEPTEMBER 2017 - PRESENT

Google Analytics Certification

Google

MAY 2017 - PRESENT

Google Adwords Certification

Google

AUGUST 2014 - PRESENT

Chartered Financial Analyst (CFA)

CFA Institute

Finance

Market Research, Forecasting, Revenue Modeling, Revenue & Expense Projections, Profitability Analysis, Capital Structuring, DCF Valuation, Asset Valuation, Three-statement Modeling, Capital Raising, Comparable Company Analysis, Capital Structure Analysis, Equity Research, Mergers & Acquisitions (M&A), Valuation, Financial Modeling, Fundraising, Stock Price Analysis, Cost Reduction & Optimization (Cost-down), Equity Research Analysis, Financial Benchmarking, Growth Equity, Growth Capital Raising

Output Software

Microsoft PowerPoint, Microsoft Excel

Data & Analysis Software

Bloomberg, Factset, Capital IQ

Industry Expertise

Apparel & Accessories, Aircraft & Airlines, Capital Markets, Semiconductors, Retail & Wholesale, Financial Services, Transportation & Shipping, Technology, Public Companies

Geographic Expertise

Latin America (LATAM), United States, China

Other

eCommerce, Beauty Products, Budget Modeling, Cosmetics, Financials, Business Modeling, Market Research Analyst, Market Research & Analysis, Consumer Insights, Growth Strategy, Business Planning, Research, Industry Analysis, Board Presentations, Company Analysis, Revenue Analysis, Unit Economics, Modeling, Equity Investment, Company Research, Company Strategy, Pitch Decks, Excel Modeling, Business Strategy, Stock Analysis, Communication, Competitor Analysis & Profiling, Writing & Editing, Finance, Financial Writer, Investor Reporting, Stock Market, Investor Relations, Business Consulting, Cash Flow Consultant, Turnaround, Profit Turnaround/Restructure, Turnaround Consultant, Turnaround Management, Content Marketing, Organic SEO, SEO Marketing, Content Creation, Email Marketing, Finance Blog, Blogging, Brand Marketing, Investment Analysis, Google AdWords, Google Analytics, Private Equity Consultant, Content Writing, Management, Marketing, Financial Forecasting, Competitive Analysis

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