Julian Wellesley, Senior Global Equity Opportunities Analyst


Julian Wellesley is a vice president of Loomis, Sayles & Company and a senior analyst for the global equity opportunities team, covering the financial sector. He has 21 years of investment industry experience and joined Loomis Sayles in 2014. Previously, he was a managing director and financial sector analyst for the global equities team at UBS Global Asset Management in London. Prior to this, Julian worked at Putnam Investments as an Asia-Pacific financial sector analyst. He began his investment career at Schroder Investment Management where he was a Japanese financial sector analyst based in Tokyo and a global financial sector analyst based in New York. Julian earned a bachelor's degree from Oxford University and a master’s degree from Sheffield University.

Recent Posts

Japan: 5 Reasons to Be Optimistic Despite the Demographics

Posted by Julian Wellesley, Senior Global Equity Opportunities Analyst on Jan 12, 2016 3:30:00 PM

For many analysts, it’s difficult to be positive about Japan over the long-term given its demographic headwind. The old-age dependency ratio may rise by 70% by 2050. The government has forecast that the population may halve within 70 years.

Although the population is only falling 0.3% per year so far, the impacts are already being felt:

  • High school class sizes have dropped by 1/3 since 1990
  • Over 8 million akiya - empty houses - in rural areas
  • More than 100,000 Japanese leave their jobs each year to care for elderly or sick relatives and many remain unemployed

Despite Japan's demographic challenges, I see several significant bright spots which bode well for the future.

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Topics: Sovereign Research, Equity Research

Analyst Notes:  A Brighter Outlook for US Banks?

Posted by Julian Wellesley, Senior Global Equity Opportunities Analyst on Dec 14, 2015 8:35:37 AM

The overall mood at the recent US BancAnalysts Association of Boston conference was positive.  Many bank CFOs believe that the future for regional bank revenue, which has been growing at barely over 1% for the past three years, looks brighter. Loan growth is picking up and net interest margins are close to bottoming, even before the benefit of interest rate hikes.  Interest rate rises will be good for banks, because the interest rates that banks charge for loans will go up faster than the interest rates that they pay for customer deposits. 

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Topics: Equity Research

Global Banks – Who Is Swimming Naked?

Posted by Julian Wellesley, Senior Global Equity Opportunities Analyst on Oct 20, 2015 11:00:00 AM

The outlook for most large banks around the world remains favorable, and one reason is that many global banks have been reporting unusually low non-performing loan disposal costs for a couple of years. Why? A financial crisis, like the one we had in 2008, is often followed by a period of low loan growth. 

But there are some early warning signs of trouble brewing out there. Here are a few:

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Topics: Equity Research

The Smartphone Banking Revolution: Leaders of the Pack

Posted by Julian Wellesley, Senior Global Equity Opportunities Analyst on Sep 1, 2015 8:30:00 AM

By 2020 it is projected that 70% of the world’s population will own a smartphone  - 1.2 billion smartphones were sold worldwide last year alone. Users increasingly rely on their smartphones for conducting a variety of daily activities including banking transactions[i].  As retail banks respond to this shift toward mobile reliance, winners and losers are quickly emerging in the internet and app-based banking space.

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Topics: Equity Research

Loomis Sayles analysts are career professionals who offer deep knowledge and experience in a diversity of global asset classes and market sectors. These dedicated experts provide the insight essential to supporting our portfolio management teams across a wide range of investment strategies.


 

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