Tom Stubbe Olsen
Founder & Portfolio Manager
Responsibilities: Portfolio Management, Investment Strategy, Analysis of Financials
Investment experience: 32 years
Tom Stubbe Olsen is the Founder and Portfolio Manager at Mensarius. He designed the firm’s investment strategy and he has established himself as one of the leading value investors in Europe. His responsibilities include the overall responsibility of the firms’ portfolios and investment strategy and he is supported by Portfolio Manager Cédric Jacque.
Prior to forming Mensarius in 2007, Tom was the Head of Value Funds at Nordea Investment Fund S.A. He joined Nordea in 1993 as Senior Portfolio Manager of the Far Eastern Value Fund which he managed for six years. In 1998 Tom became fund manager of the European Value Fund and has built one of the longest track records in European Equities. Before his time at Nordea, Tom began his career in 1986 at Sparinvest, where he worked as Research Analyst and Portfolio Manager on Far Eastern, European and North American funds for seven years.
He earned his Master of Science degree in Economics and Business Administration from the Copenhagen Business School in 1992.
Cédric Jacque, CFA
Partner & Portfolio Manager
Responsibilities: Portfolio Management, Analysis of Consumer Discretionary, Consumer Staples and Energy
Investment experience: 7 years
Cédric Jacque joined Mensarius in September 2011 as Research Analyst. He was promoted to Senior Research Analyst in 2013 and to Portfolio Manager in 2017. Cédric became Partner in the firm in 2016. His responsibilities include Portfolio Management of the firm’s portfolios together with Portfolio Manager Tom Stubbe Olsen as well as in-depth analysis of consumer discretionary and consumer staples sectors, building investment cases and valuation models and identifying investment opportunities within the sectors.
Cédric held the position of Senior Auditor at KPMG Luxembourg from 2008 to 2011.
Cédric is a CFA charter holder and earned his Master of Science degree in Finance from the University of Nancy II in 2006.
Senior Research Analyst
Responsibilities: Analysis of Industrial, Automobile and Material companies
Investment experience: 13 years
Michael Roost joined Mensarius in 2014 as Senior Research Analyst. His responsibilities include in-depth analysis of Industrial, Automobile and Material companies and sectors, building investment cases and valuation models, identifying investment opportunities within the sectors and keeping the Portfolio Managers abreast with developments in the companies and sectors.
Prior to joining Mensarius, Michael worked for seven years as equity research analyst with Bank am Bellevue covering Industrial companies. From 2005 till 2007 he held various positions at Morgan Stanley and UBS Investment Bank (Zurich) where he was responsible for the implementation of discretionary accounts and collateral management.
Michael earned his Bachelor of Commerce degree in Business Finance & Economics from the University of Kwazulu-Natal in 2004.
Brian O’Brien, CFA
Responsibilities: Various companies
Investment experience: 7 years
Brian O’Brien joined Mensarius in 2017 as Research Analyst. In 2018, he was promoted to Sector Analyst. His responsibilities include in-depth analysis of Financials, Technology & Telecom sectors, building investment cases and valuation models, identifying investment opportunities within his sectors and keeping the Portfolio Managers abreast with developments in the companies and sectors.
Prior to joining Mensarius, Brian worked as a Corporate Credit Analyst at Credit Suisse in Zürich, covering the European High Yield debt market and as Investment Analyst at P. Schoenfeld Asset Management and as a Junior Analyst at Fitch Rating, covering investment grade and high yield companies in the European Telecom, Media and Technology sector.
Brian is a CFA charter holder and earned his Master of Science degree in Investment Analysis at the University of Stirling in 2010, and a Bachelor Degree in Laws from the Leeds Beckett University in 2007.
Responsibilities: Various companies
Investment experience: 8 years
Matteo Nichil joined Mensarius in 2017 as Research Analyst. In 2018, he was promoted to Sector Analyst. His responsibilities include in-depth analysis of Healthcare & Energy sectors, building investment cases and valuation models, identifying investment opportunities within his sectors and keeping the Portfolio Managers abreast with developments in the companies and sectors.
Prior to joining Mensarius, Matteo served as a Private Equity Investment Executive at Stirling Square Capital Partners in London, where he focused on originating and executing transactions in several European geographies and across multiple industries, including aerospace and defense, chemicals and business services. Prior to Stirling Square, Matteo worked as an Associate in the EMEA M&A team at Bank of America Merrill Lynch in London where he worked on buy-side and sell-side transactions across numerous industries.
Matteo earned his Master of Science in Mathematical Trading & Finance from Cass Business School in 2010 and his Bachelor of Science in Economics & Finance at the Università Bocconi in 2009.
Responsibilities: Investment & Corporate Risk Manager
Investment experience: 19 years
Paolo Rizzini joined Mensarius in 2013 and has a long experience in quantitative analysis and risk management in long-only and alternative asset management companies. His responsibilities include setting-up and maintaining the risk management framework for Mensarius and its portfolios, as well as monitoring compliance with risk limits. Paolo supports the firm’s asset management function with quantitative analyses and portfolio risk and performance reports. Paolo independently monitors the risk profiles of the firm’s portfolios, as well as monitoring all corporate risks. He reports directly to the Board of Directors.
Prior to joining Mensarius, Paolo worked for five years as Portfolio Risk Manager in the fund-of-hedge funds business of Man Group in Switzerland. From 1999 till 2008 he worked in the asset management business of UBI Banca Group, where he started as quantitative analyst and became Head of Risk Management in 2005.
Paolo earned his Master of Science degree in Statistics and Economics from the Università Cattolica of Milano in 1999.
Tom Stubbe Olsen
Founder & Chief Executive Officer
Tom is the Founder and CEO of Mensarius. His responsibilities include the strategic development and direction of the firm. Tom is also responsible for the investment side of the Mensarius.
Tom has more than 32 years of industry experience. Prior to founding Mensarius in 2007, Tom was the Head of Value Funds at Nordea Investment Fund S.A. He joined Nordea in 1993 as Senior Portfolio Manager after spending 7 years as Research Analyst and Portfolio Manager at Sparinvest in Denmark.
Tom earned his Master of Science degree in Economics and Business Administration from the Copenhagen Business School in 1992.
Business Development & Client Relations
Ulrik joined the management group of Mensarius in 2016. His responsibilities include Client Relations and Business Development.
Ulrik has more than 24 years of industry experience. Prior to joining Mensarius Ulrik held various positions at Nordea Asset Management where he from 2010 was responsible for external equity managers in Nordea’s Fund & Manager Selection Unit and from 2006 was responsible for institutional sales in Denmark. From 1999 Ulrik took part in developing Nordea’s Global Client Management unit after working 5 years as Portfolio Manager on Nordic Equities.
Ulrik Frederiksen earned his Master of Science degree in Economics from the University of Copenhagen in 1994.
Chief Operating Officer & Chief Financial Officer
Peter joined Mensarius in 2015. His responsibilities include managing the company’s day-to-day operations including legal-, compliance-, IT- and HR related matters as well as accounting, business reporting and budgeting.
Peter has more than 38 years of experience in the finance industry with a focus on banking and fund management. Prior to joining Mensarius Peter held various executive positions with Danish based companies BLS Capital, FIH Erhvervsbank and Nykredit.
Peter earned his diploma in financing at the Copenhagen Business Academy in 1985 and has continued his education with special training within banking, law and leadership.
Claus Højbjerg Andersen
Chairman of the Board
Claus has acquired vast financial industry experience, working out of London, Luxembourg and Copenhagen. In 2004, he participated in the management buy-out of Nordic Venture Partners Management from Danske Bank and continued the operation of the company as one of three owners until selling the company in late 2012. During his time at Nordic Venture Partners, Claus helped develop numerous software companies from early phase to exit, and acted as non-executive director on a number of boards in Europe and the U.S. for both private and listed software companies. Claus participated in selling companies to Apple Inc., Tesco, HgCapital and many more. In early 2013, Claus became the Managing Partner of GAN and later a co-owner of the company. Claus holds a bachelor degree from Copenhagen Business School and MBA from IMD in Switzerland.
Pieter van Tol
Member of the Board
Pieter has 30 years of international tax experience and he is recognized as one of the world’s most influential tax advisors. He is currently President and CEO of Temmes Management Services B.V. Pieter practiced as a tax advisor in The Netherlands, London, the U.S. and Switzerland, before becoming Executive Vice President of Tax for Leica AG, and he also held various positions at Wachovia Bank. He is a member of the Dutch Tax Advisors Council and also holds board memberships for a wide variety of multinational corporate clients. He received his business economics degree from Erasmus University of Rotterdam.
Dr. Daniel Halter
Member of the Board
Daniel joined Stone Milliner in November 2013 as General Counsel and Chief Compliance Officer. Prior to Stone Milliner he worked as an independent external advisor on large scale projects for leading international asset management firms mainly in the area of Product and Market Development, M&A, Co-operations and Outsourcing. Prior to this, he served as General Counsel at Horizon21 (2005 – 2011), a Swiss alternative investment management firm specialising in private equity fund of funds, single hedge funds, fund of hedge funds and insurance-linked securities funds. Prior to joining Horizon21, Daniel worked as senior associate in the financial services practice group at Niederer Kraft & Frey (1999 – 2005), a leading Swiss law firm. Daniel is a qualified attorney at law and holds a master in law and a PhD in law from the University of Zurich, Switzerland.