Macro research that doesn’t follow the herd.

Jacob Rosenberg is Rosenberg Research’s Executive Vice President, Client Relations & Operations. He oversees the firm’s client satisfaction initiative and manages all of David’s online presentations, webcasts, and interviews.

Prior to joining Rosenberg Research, Jacob worked in the video game industry as an audio designer as well as in several client relations related roles across industries.

Jacob holds a Master of Music in Music Technology and Digital Media from the University of Toronto and a Bachelor of Arts in Economics from McGill University.

Mehmet Beceren is the Vice President & Senior Market Strategist at Rosenberg Research. He provides commentary, analysis, and research on global markets. He develops research and strategy solutions across multiple asset classes.

Prior to joining Rosenberg Research, Mehmet took on a number of Researcher and Strategist roles on the sell-side and on the buy-side. He worked as a Research Economist and Markets Strategist at Deutsche Bank for many years in London UK, and in New York. More recently, Mehmet took Quantitative Strategist roles at OMERS, a large Canadian pension fund in Toronto.

In addition to being a markets professional, Mehmet has an academic career. He earned his Ph.D. in Economics from Brandeis University and worked as a Research Associate at Harvard Business School. He has developed and taught graduate-level finance courses at Queen’s University and McMaster University.

Robert Embree is the Vice President & Senior Economist at Rosenberg Research. He provides commentary, analysis, and research on US, Canadian, and global macroeconomics, with a special focus on public policy and geopolitical risk.

Robert previously worked at Bridgewater Associates, the world’s largest hedge fund, where he was a member of the Geopolitical Risk team and the Currency team. He is also a former Junior Research Economist for the Canadian Intellectual Property Office, where he analyzed contemporary issues in the economics of intellectual property.

Robert holds a Ph.D. in Economics from the University of Toronto, a Master of Arts in Economics from Carleton University, and an Honors Bachelor of Science in Mathematics from Queen’s University. His published research in public economics and political economy has appeared in Electoral Studies, the National Tax Journal, and the Canadian Journal of Political Science.

Nwal is a Research Associate at Rosenberg Research. She is responsible for editing our publications, constructing slides and charts, helping with client data requests, and providing research support for the senior economics and strategy team.

Prior to joining Rosenberg Research, Nwal worked as a Research Intern with QuadReal Property Group where she focused on macroeconomic analysis and market trends associated with commercial real estate asset classes.

Nwal holds an Honors Bachelor of Arts from the University of Toronto in Economics and Statistics with a focus in Data Analytics and is a CFA Level I candidate.

Zackary is a Strategist at Rosenberg Research. Prior to joining Rosenberg Research, Zackary completed two terms as a Research Intern with Gluskin Sheff + Associates Inc / Onex Corporation where he focused on individual security analysis on the International Equities Portfolio.

Zackary holds a Master of Financial Economics and a Bachelor of Arts, Honors Specialization in Economics, both from the University of Western Ontario.

He was also selected in the Ontario Hockey League Draft in 2016 and is a CFA Level I Candidate.

Shayan is a Research Analyst at Rosenberg Research. Prior to joining Rosenberg Research, Shayan completed a Master of Arts in Economics at the University of Toronto in 2025, with an emphasis on Economic Sustainability. He previously earned an Honors Bachelors of Science in Financial Economics from the University of Toronto Mississauga in 2024.

He has worked as a Teaching Assistant for eight university-level courses, a Wealth Management Intern at Charanduk Financial Services, and as a Lead Research Assistant on an AI and education project. Shayan’s academic background includes advanced training in econometrics, macroeconomics, and applied policy analysis.

Samuel is a Macro Strategist at Rosenberg Research. His work incorporates the firm’s macro-economic views into actionable investment ideas across all asset classes. Sam also provides clients with context and color over global monetary and fiscal policy developments.

Previously, Samuel worked in global macro across the buy-side and sell-side, including as an analyst at Steno Research, where he advised the Asgard-Steno Global Macro Hedge Fund. He has also managed discretionary global macro strategies across institutional and private mandates, focused on FX, rates, and commodities. He founded Clark Street, an independent macro research publication focused on original research and transparent trading analysis.

Samuel holds a Master of Science in Finance and Investments from Copenhagen Business School and a Bachelor of Commerce in Finance from Concordia University, with a minor in Economics.

Rachael Zbar is a Corporate Director overseeing the company’s legal, financial, and HR affairs.

She is a former Social Worker and has a history of extensive volunteer service in the local community.

Rachael holds a Bachelor of Arts and a Master of Social Work from the University of Toronto.

Dinesh Vel is the Director of Technology for Rosenberg Research. Dinesh is responsible for handling the firm’s data analytics and technological requirements.

Prior to joining Rosenberg Research, Dinesh was a Business Solutions Manager at RBC where he streamlined many of the firm’s regulatory reporting processes. He also worked as a Program Manager at Gluskin Sheff + Associates Inc. where he led and oversaw the operations of the Investment Technology team.

Dinesh holds a Bachelor of Mathematics in Actuarial Science and Statistics from the University of Waterloo.

Alexandra Delle Donne is the Executive Assistant with Rosenberg Research. She is responsible for day to day operations, supporting with incoming and outgoing communications, and happily assisting with any internal and external requests.

Prior to joining Rosenberg Research, Alexandra worked in corporate administration and management with a co-working facility in Toronto, ON. She has 5+ years of experience in customer service, and also worked as a social media liaison with Amplified Opera and the University of Toronto Music Faculty.

Alexandra holds a Master of Music in Historical Voice Performance from the University of Toronto, and still performs classical/operatic music within the GTA.

Josh Johnson is a Client Relations Manager at Rosenberg Research. He focuses on providing excellent client service and assisting in company growth initiatives.

Prior to joining Rosenberg Research, Josh worked at CI Financial as a relationship manager to private wealth advisors under the CI Private Wealth Canada business. This role provided him with strong experience in understanding and developing solutions that properly address the needs and complexity UHNW clients face in asset management and financial planning.

Josh holds a Masters in Business Administration from Liberty University.

Connor Kwinter is a Client Relations Representative at Rosenberg Research. He is responsible for ensuring exceptional client support as well as supporting research distribution.

Prior to joining Rosenberg Research, Connor worked at NEI Investments as a Sales Associate, where he focused on relationship management and business development. In this role, he worked closely with financial advisors, and helped strengthen client relationships across a broad network of professionals.

Connor holds a Bachelor of Arts from Wilfrid Laurier University in the Honors Economics Program.

Amber Malik is a Marketing Associate at Rosenberg Research, where she assists with the planning and execution of multi-channel marketing campaigns.

Prior to joining Rosenberg Research, Amber gained valuable experience in marketing with CI Assante Wealth Management Ltd. She also contributed her expertise to an industry-leading title insurance company.

Amber holds a Bachelor of Commerce degree from McMaster University.

Noriza Hasnat is a Junior Operations Analyst at Rosenberg Research, where she focuses on marketing operations and revenue technology, including CRM management, workflow automation, and data-driven marketing and webcast program execution.

Prior to joining Rosenberg Research, Noriza held marketing operations and client-facing roles focused on CRM systems, digital marketing execution, and engagement.

Noriza holds a Bachelor of Commerce in Marketing Management from Toronto Metropolitan University and has completed a Product Management certification.

Walter Murphy is a Technical Analysis Consultant to Rosenberg Research.

His career began at Standard & Poor’s in 1977, where, in seven years, he headed up the Equity Research department’s Utility Industry team before becoming Manager of the department.

Walter joined Merrill Lynch in 1984 in the acclaimed Market Analysis department under the leadership of Bob Farrell and eventually became a Director and Senior International Market Analyst.

From 2009 to 2017, Walter penned both a weekly blog and a monthly review of the various markets under the Walter Murphy’s Insights banner.

Walter graduated from the College of the Holy Cross with a Bachelor of Administration in Political Science. He also holds an Master of Business Administration in Finance from Babson College. Walter became a Chartered Financial Analyst (CFA) in 1981.

Ken Bercuson is a world-class economist and Fed policy expert who has had a storied career, spanning Donaldson, Lufkin & Jenrette (foreign exchange strategist) and Merrill Lynch (fixed-income strategist) on Wall Street, and years of public service at the IMF where he specialized on Emerging Markets.

He helped start up a hedge fund (WCG Management) in 2007. Ken has also published books on economic development in Emerging Market countries.

He graduated with his PhD in Economics from Yale in 1977, with Nobel laureate James Tobin as his advisor. Ken also is a globally-renowned and competitively-ranked bridge player.

Tony Sevsek is an accomplished investment executive with more than 25 years of leadership experience across capital markets, alternative investments, and financial technology.

During his 17 years at BMO Capital Markets, Tony played a pivotal role in expanding the firm’s fixed-income trading, distribution, and research capabilities across Canada, the U.S., and Europe. At Bank of America Merrill Lynch Canada, as Managing Director and Head of FICC Sales, he successfully grew the Canadian fixed-income franchise and contributed to strategic planning as a member of the operating committee.

His career later expanded into private markets, innovation, and entrepreneurship. As Head of Sales at Dundee Global Investment Management, and Founder of TRIACS Capital Advisors, Tony advised asset managers, early-stage fintech firms, and disruptive technology companies on strategic growth, capital formation, and business development.

Most recently, as President of Marret Private Wealth, Tony oversaw all private wealth activities, including capital allocation, client relationship management, business development, and product innovation.

Tony earned his Master of Business Administration in Finance and a BSc (Honors) in Physical Chemistry from the University of Toronto, graduating on the Dean’s List.

Adam spent nearly 15 years at CPP Investments building and managing systematic portfolios across Equities, Fixed Income, Commodities, and FX. His career there began in 2012 in the Global Tactical Asset Allocation group, researching global macro strategies that turned fundamental and technical research into systematic portfolios. In the Global Capital Markets group, he managed strategies across the four asset classes, allocated risk capital across those strategies to form diversified portfolios within a structured framework, and built the group’s risk, performance, and portfolio reporting tools.

More recently, as a Portfolio Manager in the Systematic Strategies Group, Adam was responsible for the global Commodity and Equity quantitative portfolios, overseeing research, portfolio construction, stress testing, and risk modeling. He helped shape the group’s research process, platform and strategic direction while expanding into new markets.

Adam holds a Master of Financial Engineering from the Haas School of Business at UC Berkeley and a BSc in Mathematics from Toronto Metropolitan University, where he graduated with Honors. He also holds the Chartered Investment Manager (CIM) designation.