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.

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
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 Bell

MA, MBA, CFA
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 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.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.

Darryl McCoubrey

CPA, CA
Vice President
Utilities & Infrastructure

Darryl is Vice President 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. Darryl was ranked #1 Utilities analyst by Thomson Reuters in 2017. 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.

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 is the analyst covering the Communication Services and Information Technology sectors. Desmond was ranked #1 Communication Services analyst by Thomson Reuters in 2017.  Prior to joining Veritas in 2010, Desmond worked at KPMG LLP providing assurance services to Communication Services 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. 

Nigel D'Souza

B.Sc., CFA
Investment Analyst
Financial Services

Nigel is a Investment Analyst in Financial Services and joined Veritas in 2016. 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 a CFA charterholder.

Stuart Rolfe

CFA
Investment Analyst
Accounting & Special Situations

Stuart is an Investment Analyst in the Accounting & Special Situations Group. Stuart joined Veritas in 2015 as V.P. Business Development where he supported institutional clients and originated Veritas' Daily Ledger. Prior to joining Veritas, Stuart was an Investment Analyst with a Toronto-based investment counsel where he covered industrial, TMT and emerging industry equities.

Stuart has 10 years of industry experience as a staff-level electrical engineer (ASIC design) where he developed one of the first commercial HDMI-enabled chipsets.

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. 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 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 a 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.

Chris Silvestre

CPA (Delaware)
Investment Analyst
Accounting & Special Situations

Chris is an Investment Analyst in the Accounting & Special Situations Group. He first joined Veritas in 2006, and worked on influential reports including Yellow Pages Group, Polaris Minerals and Timminco.

After 9 years in industry, where he co-founded several technology start-ups and was most recently a partner at a creative agency, Chris returned to Veritas in 2018. Chris holds a BBA from the Schulich School of Business, and is a CPA licensed in the State of Delaware.

Brent Levenstadt

CPA, BA (Hons)
Senior Research Associate
Accounting & Special Situations

Brent is a Research Associate in the Accounting & Special Situations Group. Prior to joining Veritas in 2017, Brent worked at PwC providing assurance services to clients in various industries including Financial Services, Real Estate, Public Infrastructure and Renewable Power.

Brent holds a BA (Hons) in History from the University of British Columbia and expects to qualify as a Chartered Professional Accountant in 2017.

Henry Yu

CPA, CA
Research Associate
Accounting & Special Situations

Henry is a Research Associate in the Accounting and Special Situations Group. Prior to joining Veritas, Henry worked at PricewaterhouseCoopers LLP providing assurance services to clients in the private client services group.

Henry graduated from the University of Waterloo with a Bachelor of Accounting and Financial Management and a Master of Accounting. He is a Chartered Professional Accountant.

Rasib Ali Bhanji


Research Associate
Financial Services

Rasib is a Research Associate in Financial Services and joined Veritas in 2018. Prior to joining Veritas, Rasib worked in Credit Risk Management and Private Equity in emerging markets. He also has experience spanning various industries including utilities and infrastructure, fertilizers and dairy.

Rasib is currently part of the MBA program at the Rotman School of Management and expects to complete his requirements by mid 2018. Rasib has completed the CFA program and expects to receive the CFA charter once the requisite work experience requirement is fulfilled.

Tom Jarmai

B.Sc, BA, FCSI
Vice President
Business Development

As Vice-President, Business Development, Tom brings over 35 years of experience acquired through equity analysis, fixed income analysis and corporate finance relationships. Tom has an extensive career in capital markets and has been a top ranked analyst. Prior to joining Veritas in 2017, Tom's career included Senior Managing Director roles at RBC Capital Markets, Desjardins Capital Markets and Canadian Bond Rating Services (S&P).

Tom has a B.S.,B.B.A. from Florida Atlantic University and a FCSI designation.

Mickey MacDonald

CPA, CA
Vice President
Business Development

Mickey is a Vice-President of Business Development and is responsible for managing our client relationships and providing investment ideas. Prior to joining Veritas in 2017, Mickey worked at PwC providing assurance services to clients in asset management and financial services.

Mickey received his Bachelor of Commerce degree from Dalhousie University majoring in Finance and his Masters of Management and Professional Accounting degree from the University of Toronto.

Nancy Cardoso


Support Team
Media Manager

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

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.

Josie Monasterolo

BFA
Support Team
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.

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.