Anthony Scilipoti

FCPA, FCA, CPA (Illinois)
President & CEO

Anthony and his partners founded Veritas Investment Research in 2000. He is a Fellow Chartered Public Accountant, a Fellow Chartered Accountant, a Certified Public Accountant (Illinois) and a member of the Association of Certified Fraud Examiners. He is a licenced portfolio manager. Anthony also serves as a member of the Ontario Securities Commission's Continuous Disclosure Advisory Committee since 2006. In 2019, Anthony was appointed to the Board of the Capital Markets Advisory Committee of the International Accounting Standards Board.

 

Anthony has been very active in accounting standard setting since 2003. He is a former member of the Canadian Accounting Standards Board, the CICA's Emerging Issues Committee, and was the Chair of CPA Canada's Users Advisory Committee.

Anthony began teaching in 1997 as a part-time accounting instructor at York University's Schulich School of Business in the MBA and BBA Programs. He was nominated for the Teaching Excellence Award in 1997 and 2003. Several of Anthony's cases have been published in Cases in Financial Accounting: A Principles Based Approach, First Edition, 2006. While he no longer teaches full courses, he does guest lectures at the undergraduate and graduate levels and runs custom training programs 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 an advocate for investors rights. He is frequent media commentator and public speaker on issues related to financial accounting and disclosure and is considered and industry expert in special situations related to accounting. 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.

 

Lou Fabiano

BA, MBA
Senior Strategic Advisor

Lou is Senior Strategic Advisor to Veritas and will provide direction and support on the firms long term strategy.  Lou joined Veritas as COO 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.

Darryl McCoubrey

CPA, CA
Head of Research
Utilities & Infrastructure

Darryl is Head of Research, VP of Utilities & Infrastructure and is a partner in the firm. He joined Veritas in 2006 and, over the years, has developed unique expertise within his coverage universe. Refinitiv StarMine ranked him #2 for stock picking in the Chemicals and Utilities Industry in 2020. He was also the fourth-ranked overall across all industries and analysts in 2017 and #1 for Chemicals and Utilities that year. He placed third overall across all industries in 2016. 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 three 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.

Josie Monasterolo

BFA
Vice President
Operations

Josie is responsible for supporting Veritas' day-to-day operations.  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.

Scott Adams

MA
Vice President
Communications & Strategy

Scott is the Vice President of Communications and Strategy. Before joining Veritas in 2019, he was Director of Digital Subscription Acquisition at the Globe & Mail. He was previously Executive Editor of the Report on  Business, Managing Editor of Globe Investor and spent many years as a journalist covering capital markets and investments.

Scott has his Master of Arts, Journalism from Western University.  

Dimitry Khmelnitsky

CPA, CA
Vice President
Head of Accounting & Special Situations

Dimitry is Head of the Accounting & Special Situations Group, focusing on organizations that pose a financial risk.   He is also Head of Training, helping our clients and their analysts on analyzing complex accounting issues. Dimitry was the #3 ranked Special Situations analyst for Canadian stocks in 2020, as voted on by Canadian, U.S. and European investors, according to Brendan Wood International. He was #1 ranked in 2019 and #3 in 2018. Prior to joining Veritas in 2006, Dimitry was at Ernst & Young in their assurance practice.

 

 

 

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.

 

Kathleen Wong

CPA, 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 Lau

CPA, CA, CFA
Investment Analyst
Communication Services & Information Technology

Desmond has been covering the Communication Services and Technology sector since joining Veritas in 2010. Desmond was ranked #1 overall across all industries and analysts for stock returns in 2020 by Refinitiv StarMine. He also placed #1 in the Telecommunication Services Industry and #1 in the Media Industry in 2020. He has won StarMine awards four years in a row, including #3 for Media and #2 for Telecommunication Services in 2019, #3 for Telecommunications in 2018, and #1 for Telecommunications in 2017. Prior to joining Veritas, Desmond worked at KPMG LLP, providing assurance services to Communication Services and Technology clients for four years. Desmond has been a frequent lecturer for Master of Accounting students.

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. 

Nigel D'Souza

B.Sc., CFA
Investment Analyst
Financial Services

Nigel is an Investment Analyst in Financial Services and joined Veritas in 2016. Refinitiv StarMine ranked him #2 for earnings estimate accuracy for Banks in 2020. He was also ranked sixth overall for stock picking across all industries and analysts by StarMine in 2019, and #1 for the Banks that year. Prior to joining Veritas, Nigel operated a training program for professionals, providing coursework on financial modelling and how to conduct equity research. He also worked at State Street as an associate in Alternative Investment Solutions.

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 a CFA charterholder.

Dan Fong

BA, HBA, CFA
Investment Analyst
Industrials

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.

 

 

Howard Leung

CPA, CA, CFA
Investment Analyst
REITS & Technology, Accounting & Special Situations

Howard is an Investment Analyst covering REITs, Technology and Special Situations. He was the #2 ranked analyst for stock returns by Refinitiv StarMine for the Real Estate Industry in 2019. 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 board member on the Canadian Accounting Standards Board (AcSB), establishing standards for all Canadian entities outside the public sector.

Howard is also a mentor in the consumer discretionary space for the University of Waterloo Student Investment Fund.He is a CFA® charterholder and Chartered Professional Accountant. 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.

Jeffrey Craig

CPA, CA
Investment Analyst
Energy

Jeff is an Investment Analyst covering the Energy sector. Prior to joining Veritas in 2016, Jeff worked at Ernst & Young LLP providing assurance services to clients in various industries, including financial institutions and manufacturing.

Jeff received his Honours Bachelor Business Administration from Wilfrid Laurier University with a minor in Economics. Jeff is a Chartered Professional Accountant and has passed Level 1 of the CFA program.

Shalabh Garg

CFA, MBA, B.Eng
Research Associate
Financial Services

Shalabh is a Research Associate in Financial Services. Prior to joining Veritas in 2019, he worked at Nomura Services and was responsible for business analysis of projects related to the front-office trading desk.

Shalabh is a CFA charterholder and holds an MBA degree from the Schulich School of Business, graduating with Distinction. He also holds a Bachelor of Engineering degree from the University of Mumbai.

Jacob Liu

MBA, MA, BBA
Research Associate
Accounting & Special Situations

Jacob is a Research Associate in the Accounting and Special Situations Group, focusing on organizations that pose financial risks. Prior to joining Veritas in 2020, he worked at TD Securities on the prime brokerage desk and PwC in the alternative investments group.

 

 

 

 

Jacob holds an MBA (Dean's List) with specializations in Finance and Strategy from the University of Toronto, Rotman School of Management. He earned a Bachelor of Business Administration and a Master of Accounting from the University of Wisconsin-Madison, Wisconsin School of Business. Jacob's investment idea earned him a finalist placement in the 2019 Sohn Idea Contest in London, UK.

Stephanie Shiu

BAFM, MAcc
Research Associate
REITS & Technology, Accounting & Special Situations

Stephanie is a Research Associate in the REITs, Technology and Special Situations . Prior to joining Veritas, Stephanie worked at PricewaterhouseCoopers LLP providing assurance services to clients in the Asset and Wealth Management group.

 

Stephanie graduated from the University of Waterloo with a Bachelor of Accounting and Financial Management and a Master of Accounting.  Stephanie has passed level 1 of the CFA program and will qualify for her CPA designation in early 2022

Doreen Sengsavang

BBA
Business Development

Doreen is responsible for managing our client relationships and championing our investment ideas to clients.

Prior to joining Veritas in 2021, Doreen worked for over 4 years in institutional equity sales at Sanford C. Bernstein, a global independent equity research and brokerage firm.

Doreen received her Honours Bachelor of Business Administration (BBA) from the University of Guelph.

Michelle Mercer


Support Team
Corporate Secretary & Client Relationship 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.

Nancy Cardoso


Support Team
Media Manager

Nancy  is responsible for publishing our reports,  client communications, and website maintenance. Nancy  joined Veritas  in 2005.  

Carmela Zentena


Support Team
Assistant to the Executive Team

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.