Anthony ScilipotiFCPA, FCA, CPA (Illinois)
President & CEO
Anthony is a founding partner of Veritas Investment Research. He is a fellow Chartered Accountant, a Certified Public Accountant (Illinois) and a member of the Association of Certified Fraud Examiners. Anthony is the Chair of CPA Canada's Users Advisory Committee, a former member of the Canadian Accounting Standards Board and the CPA Canada Emerging Issues Committee.
Anthony also serves as a member of the Ontario Securities Commission’s Continuous Disclosure Advisory Council. In 2006, Anthony was awarded the Award of Distinction by the Institute of Chartered Accountants of Ontario for his impact and leadership in the accounting profession among those under 40.
Anthony has been a part-time accounting instructor in the MBA and BBA Programs at York University's Schulich School of Business, where he was nominated for the Teaching Excellence Award in 1997 and 2003. A number of Anthony's cases have been published in Cases in Financial Accounting: A Principles Based Approach, First Edition, 2006. Anthony has also taught courses on financial statement analysis and business valuation for the CFA societies in Canada and the U.S, CPA Canada, as well as Canadian and U.S. analysts and portfolio managers.
Anthony is a frequent media commentator and public speaker on issues related to financial accounting and disclosure. He is considered an industry expert in special situations related to accounting.
Lou FabianoBA, MBA
Chief Operating Officer
Lou is Chief Operating Officer and is responsible for Veritas’ daily operations, administration, and the development and execution of the firm’s long term strategy. Lou joined Veritas in 2014. Prior to joining Veritas, Lou was an executive with TD and Scotiabank (HollisWealth) focused on research, products, strategy, and marketing in both wealth and asset management.
His experience and education are cross-border having worked in both Canada and the United States. Lou graduated with a BA from The University of Western Ontario and an MBA from Clemson University.
Sam La BellMA, MBA
Head of Research
Sam is the Head of Research and a partner in the firm. In addition to serving on the Veritas Investment Committee, which selects the firm’s best investment ideas, Sam was the lead analyst covering Canada’s senior, intermediate and integrated oil & gas producers, including S&P/TSX 60 listed companies. Sam joined Veritas in 2004.
In 2006, Sam was the first analyst to highlight Canada’s stock option backdating problem, which triggered a review of option filing practices by the Canadian Securities Administrators. Backdating problems were subsequent discovered at BlackBerry Ltd., Ensign Energy Services and Penn West Petroleum Ltd., among others.
As well as conducting oil & gas accounting teach-ins for Veritas’ clients, Sam has been a featured speaker at CPA Canada conferences and on Business News Network.
Sam holds a BA in Economics from the University of Toronto, an MA in Economics at the University of Ottawa, and an MBA from the Richard Ivey School of Business.
Dimitry KhmelnitskyCPA, CA
Head of Accounting & Special Situations Group
Dimitry is Head of the Accounting & Special Situations Group focusing on organizations that pose a financial risk. Dimitry is also Head of training helping our clients and their analysts on analyzing complex accounting issues. Prior to joining Veritas in 2006, Dimitry was at Ernst & Young in their assurance practice.
Dimitry is a Chartered Professional Accountant and holds a BBA from York University's Schulich School of Business. He has been a part-time accounting instructor in the Program where he taught Financial Accounting. Dimitry has also been involved in CPA Canada's professional development program where he taught the CPA Canada In-depth GAAP course, dealing with complex accounting topics.
Ariel AndresCFA, MBA
Investment Research Strategist
Ariel is Veritas’ Investment Research Strategist and is responsible for bringing new research and investment ideas to Veritas clients. Ariel brings over 23 years of investment experience in buy-side and sell-side analysis as well as risk management. Ariel joined Veritas in 2014 from Waterfront International where he spent 14 years managing numerous market-neutral and systematic equity strategies.
Prior to his work at Waterfront, he was a sell-side analyst at RBC Dominion Securities. Ariel is a CFA charterholder and holds an MBA from the Schulich School of Business.
Darryl McCoubreyCPA, CA
Utilities & Pipelines
Darryl is Vice President of Utilities, Pipelines, & Industrials and a partner in the firm. He joined Veritas in 2006 and, over the years, has developed unique expertise within his coverage universe. Darryl is well known by our clients for his acumen, and his views are often requested by major Canadian media outlets, including the Globe and Mail, the National Post and Business News Network.
Prior to joining Veritas, Darryl spent threee years at Ernst & Young LP in their assurance practice, specializing in financial services.
Darryl graduated with High Distinction in the University of Toronto’s BBA program, and was designated a Chartered Accountant in 2006.
Kathleen WongCPA, CA, CFA
Senior Investment Analyst
Consumer Staples & Consumer Discretionary
Kathleen is responsible for covering the Consumer Staples and Consumer Discretionary sectors. Kathleen has over 10 years of equity research experience on both the sell-side and the buy-side. She joined Veritas in 2009 after having spent seven years at CIBC World Markets as an equity analyst covering the retail sector.
In 2007, she received two Financial Post/StarMine Canadian Top Analysts Stock Picking Awards: #1 in Business Trusts and #2 in Retail. Prior to her experience at CIBC, Kathleen spent three years as an investment analyst at Ontario Teachers Pension Plan Board.
Kathleen holds a Bachelor of Commerce degree from the University of Toronto and earned her CFA in 1998.
Desmond LauCPA, CA, CFA
Telecommunications & Information Technology
Desmond is the analyst covering the Telecommunications and Information Technology sectors. Prior to joining Veritas in 2010, Desmond worked at KPMG LLP providing assurance services to telecommunications and technology clients for four years.
Desmond graduated from the University of Waterloo with a Bachelor of Accounting and Financial Management and a Master of Accounting. He earned his CPA, CA designation in April 2010 and is also a CFA charterholder.
Taso GeorgopoulosCPA, CA, CFA
Accounting & Special Situations Group
Taso is an Investment Analyst and part of the Accounting & Special Situations Group. Taso focuses on identifying investment opportunities with large discrepancy to value. Prior to joining Veritas in 2014, Taso worked at KPMG LLP in the Transaction Services practice performing M&A due diligence for over six years.
Taso is a Chartered Professional Accountant, a CFA charterholder and holds a BBA from the Schulich School of Business at York University.
Mike RizvanovicCFA, MBA
Mike is a lead analyst for Financial Services. Before joining Veritas in 2015, Mike spent two years in Deloitte’s M&A Financial Advisory Practice covering non-bank financials, and prior to that, six years at CIBC World Markets as an equity research associate covering the Canadian banks and life insurers.
Mike earned his MBA from the Schulich School of Business and is a CFA charterholder.
Sid SubramaniP. Eng., MBA
Mining & Precious Metals
Sid is the analyst covering Mining and Precious Metals. Prior to joining Veritas in 2015, Sid started his career as an engineer in Canada’s mining and oil and gas industries where he worked on design and detailed engineering at two leading consulting firms, Hatch and Bantrel. Sid also spent time at various operating sites in Alberta and Nunavut during construction, commissioning and start-up.
Prior to joining Veritas, Sid spent 3 years in Hatch’s Management Consulting practice working on strategy, market analysis and due-diligence mandates. Sid primarily conducted due-diligence of mining and metals companies for private equity, mining companies and lenders. He assessed operating and capital costs, operations, risks and developed financial models to determine valuations for brownfield and green-field projects in copper, iron ore, bauxite/alumina and precious metals. In addition, he also conducted financial analysis for a number of Hatch’s feasibility projects.
Sid holds a BSc. in Electrical Engineering from the University of Calgary and an MBA from the Richard Ivey School of Business.
Nima BillouMBA, CFA
Nima is an Associate Analyst covering the Energy Sector. Prior to joining Veritas in 2015, Nima had more than six years of experience working at buy side institutions where he conducted equity research focusing on Energy, Oil and Gas, and Utilities.
Nima holds an MBA from Simon Fraser University and an HBA from the Richard Ivey School of Business as well as his CFA.
Dan FongBA, HBA, CFA
Dan is responsible for covering the Industrials sector. Dan brings over 13 years of buy-side research and investment experience. Prior to joining Veritas in 2016, Dan worked at a privately-held Toronto firm focusing on value, growth and catalyst-driven investing. His prior work also includes structuring leveraged finance deals while working at an investment bank based in Los Angeles.
Dan is a CFA® charterholder, holds an HBA degree from the Ivey Business School and a BA from the University of Waterloo.
Senior Research Associate
Accounting & Special Situations Group
Nigel is a Senior Research Associate in the Accounting & Special Situations Group. Nigel joined Veritas in 2016 and is a respected blogger on equities. Since 2014, he's operated a training program for professionals, providing coursework on financial modeling and how to conduct equity research.
Nigel continues to provide career development, financial modeling and equity research workshops at several Canadian Universities and acts as a judge for student case competitions. He achieved top quintile performance in a number of global financial modeling competitions.
Nigel holds a Bachelor of Science degree from the University of Toronto, graduating with high distinction, and he is currently a Level III candidate in the Chartered Financial Analyst (CFA) program.
Howard LeungCPA, CA
Accounting & Special Situations Group
Howard is a Research Associate in the Accounting & Special Situations Group. Prior to joining Veritas in 2015, Howard worked at Deloitte LLP in the Toronto Assurance and Advisory practice, serving financial institutions and real estate clients. He is currently a mentor in the consumer discretionary space for the University of Waterloo Student Investment Fund.
Howard is a Level III Candidate in the Chartered Financial Analyst (CFA) Program. Howard graduated on the Dean's Honour Roll from the University of Waterloo with a Master of Accounting and a Bachelor of Accounting and Finance.
Sherry is a Research Associate covering the Financial Services sector. Sherry first joined Veritas in 2012 as a co-op student and then as a full-time Energy Research Associate. Sherry holds a Master of Accounting degree and a Bachelor of Accounting and Financial Management degree from the University of Waterloo, having graduated with distinction on the Deans Honours List.
She expects to qualify as a Chartered Professional Accountant in 2016 and is currently a Level II candidate in the Chartered Financial Analyst (CFA) Program.
Consumer Staples & Consumer Discretionary
Alex is a Research Associate covering the Consumer Staples and Consumer Discretionary sectors. Alex first joined Veritas as a co-op student in 2013 working on these sectors.
Alex holds a Master of Accounting and a Bachelor of Mathematics from the University of Waterloo, where she graduated with distinction on the Dean's Honours List. Alex has passes all three levels of the CFA Program and expects to qualify as a Chartered Professional Accountant in 2016.
Utilities & Industrials
Nasiba is a Research Associate and joined Veritas in 2015 after a four-month internship. Prior to joining Veritas, Nasiba worked at KPMG LLP providing assurance services to clients in various industries, including agricultural, industrial and mining. Nasiba holds an MBA from the Rotman School of Management.
She expects to qualify as a Chartered Professional Accountant in 2016. Nasiba is involved in community and student mentoring through her association with Women in Capital Markets.
Stuart Rolfe, B.A.SC., is Vice President, Business Development and brings us the technical expertise demanded by our clients. Stuart joined Veritas in 2015 from Cockfield Porretti Cunningham Investment Counsel where he was an Investment Analyst. Prior to his life in Financial Services, Stuart was a ASIC (Chip) Designer with AMD and Zoran Corp.
Stuart is an electrical engineer, he has successfully completed all his CFA examinations in 2013, and expects to complete his Chartered Business Valuator designation in 2016.
Julie Griffin is Vice President, Business Development. Julie joined Veritas in 2016 from National Bank Financial where she worked in both the Corporate Banking and Fixed Income group. She also worked as an Investment analyst for a German bank in her native Ireland, where she earned an accounting designation and completed her Bachelor of Commerce degree at the University College Dublin.
Nancy is responsible for publishing our reports, client communications, and website maintenance. Nancy joined Veritas in 2004.
Executive Specialist and Office Manager
Michelle is responsible for accounting, payroll, and the day-to-day office management at Veritas. Michelle is one of the founding partners at Veritas. Prior to joining Veritas in 2000, Michelle worked as an assistant in the research group for a large brokerage. Michelle has a diploma in social work.
Client Relationship Manager
Josie is responsible for supporting Veritas' client and financial data systems. Prior to joining Veritas in 2012, Josie worked as a Scheduling and Payroll Coordinator. Josie obtained her BFA with Honours in 2004 at York University, with a minor in Sociology.
Executive Assistant to President & CEO
Carmela is responsible for providing administrative support to the executive team as well as managing daily office operations. Prior to joining Veritas in 2014, Carmela worked as an Executive Assistant to the President at an engineering firm.