TS Lombard Analysts
Every member of the TS Lombard team is a tenured research or markets professional drawn from buy side firms, sell side desks, central banks and political institutions. Together, we are the leading provider of independent macro and investment research.
How does the TS Lombard research process work?
TS Lombard operates an un-siloed research process. County economists and political analysts feed into a single global view. The strategy team translates that view into asset allocation and trade ideas.
The house view is debated weekly by the whole analyst team. Every analyst has the freedom to challenge the base case. Conviction is tested, not assumed.
Lead analysts
Freya Beamish
Freya has been Chief Economist since June 2022 and was formerly Head of Asia at Pantheon Macro. Freya started her career in Hong Kong with Lombard Street Research, holds a Masters in Economics from the LSE and is fluent in Chinese.
Freya’s approach blends big picture analysis with granular forecasting. In April 2025, Freya made a bold prediction in the days after Liberation Day of “No major bear market or recession. Trump would back off tariff rates that risked a sustained bear market, but the dollar standard era was ending.” She called dollar weakness in the short term but not an immediate end to its reserve currency status.
Coverage: Global Macro, Inflation, Central Banks
Dario Perkins
Dario Perkins is Managing Director, Global Macro. He covers a wide range of global macroeconomic themes and writes the fortnightly Macro Picture.
At the UK Treasury he co-ordinated Gordon Brown’s global economic forecasts and was responsible for designing the structure of the Bank of England’s Financial Policy Committee. He also produced an important review of the BoE following the 2008 crash. At ABN AMRO he was the City’s top-rated European economist for three consecutive years, earning a reputation for his communication skills and central-bank forecasting record.
Coverage: Inflation, Global, Central Banks, US Macro
Christopher Granville
Christopher Granville leads TS Lombard’s political and geopolitical research.
His career began as a UK diplomat specializing in Russia and the former Soviet Union, including senior roles at Moscow-based investment banks where he was a top-ranked analyst in broker surveys.
He co-founded Trusted Sources in 2006, which merged with Lombard Street Research to form TS Lombard in 2016. He graduated from Oxford University and was a Fellow of All Souls College.
Coverage: Global Politics and Policy
Country economists and political analysts
Steven Blitz
MD, Global Macro and Strategy
US, FED, US Fixed Income
Davide Oneglia
MD, European & Global Macro
Europe & ECB, Global
Grace Fan
MD, Global Policy Research
US Politics and Global Policy
Rory Green
MD, Head of EM Research
China, East Asia, EM
Elizabeth Johnson
MD, Brazil Research
Brazil
Shumita Deveshwar
Chief India Economist
India
João Pedro Oliveira Fachetti
Economist
Brazil Research
Alex Xenofontos
Economist
UK and Europe
How TS Lombard applies macro to investment strategy
Our strategists apply 4 layers of analysis to arrive at high conviction actionable ideas.
Stress testing
Every view is tested against scenarios where the central case is wrong.
Valuation models
We assess whether markets have priced the macro environment correctly.
Market timing
We identify when a macro view is likely to be reflected in asset prices.
Optimization
We translate views into portfolio level recommendations across asset classes and geographies.
Strategy team
Daniel Von Ahlen
Head of Strategy
Martin Shenfield
Strategy
Robert Taylor
Strategist & Data Scientist
Sadeem Al Gaaod
Data Scientist
TS Lombard macro publications
Global macro
Global strategy
Emerging markets
Why institutional investors choose GlobalData TS Lombard
“The work I think is the best on the street. Not an exaggeration. Form and substance, but substance above all.”
John Heffern, KCA/Princeton Advisors LLC, New Jersey, USA
Recent research from TS Lombard
Flavio hit by friendly fire
By Elizabeth Johnson
Flávio Bolsonaro’s campaign for the presidency took another turn for the worse this week when his stepmother posted a 30-minute video airing the family’s dirty laundry. As Brazilians tuned in to watch the national team face Scotland in the FIFA World Cup, former First Lady Michelle Bolsonaro was preparing for a battle of her own.
Europe’s peace dividend: Ukraine boost
By Christopher Granville
There’s another geopolitical tailwind for European outperformance besides Hormuz reopening. This is advances in the Ukraine war endgame, with a more visible 12-month path. The first symptom of this idiosyncratic peace dividend will be defense stocks.
A healthy hike… and then some more
By Freya Beamish
The natural rate of interest is higher than the Fed thought – a 2026 hike is healthy. July is too soon; September is more likely but rates are going up this year. We still see at least two hikes next year.
GlobalData TS Lombard: Perkins Vs Beamish
Each week, Chief Economist Freya Beamish and Managing Director of Global Macro, Dario Perkins, answer three of the questions clients are actually asking.
No prepared statements. No consensus handholding. Two economists with different views, working through what is moving markets.
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