Financials & FinTech research, Galliano’s Financials Research

Victor Galliano

Victor Galliano is an experienced equity banks analyst, having covered Latin America banks and non-bank financials for over 12 years, as well as more recently covering the Italian banks. He has worked in sell side equity research for 30 years in a career spanning Barclays, HSBC, BBVA LatInvest, Barings and NatWest.
Galliano's Financials Research provides fundamental research in Emerging Markets financials, including FinTech, as well as financials in select Developed Markets.
The investment style applied is generally value oriented, although Growth At Reasonable Price (GARP) strategies can also be used where appropriate. Our investment research approach aim is often contrarian, looking to capitalise on overly sceptical or optimistic consensus views. In terms of valuation techniques, the focus is on PBV ratio to ROE, PE multiples and dividend yield, as well as the application of PEG ratios and, where appropriate, Sum of the Parts (SOTP) valuations.

Financials & FinTech research

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Financials & FinTech, EM & Developed Markets

Galliano’s Financials Research

Galliano's Financials Research provides fundamental research in Emerging Markets financials, including FinTech, as well as financials in select Developed Markets.

The investment style applied is generally value oriented, although Growth At Reasonable Price (GARP) strategies can also be used where appropriate. 

Our investment research approach aim is often contrarian, looking to capitalise on overly sceptical or optimistic consensus views. In terms of valuation techniques, the focus is on PBV ratio to ROE, PE multiples and dividend yield, as well as the application of PEG ratios and, where appropriate, Sum of the Parts (SOTP) valuations.

Event-Driven

London Stock Exchange Group / Event-Driven

<ul>
<li>LSEG’s share price has continued to perform poorly in early 2026 due to the emergence of new AI tools in professional workflow environments within finance-related services</li>
<li>The concern is that AI could potentially disintermediate data and information providers like LSEG, adversely impacting its core business of data and information flows that account for 66% of revenue</li>
<li>We believe that LSEG focus on integrating AI into its largely proprietary data streams and workflow tools should counter the AI threat; activist Elliott’s entry is a vote of confidence</li>
</ul>


LSEG’s share price has continued to perform poorly in early 2026 due to the emergence of new AI tools in professional workflow environments within finance-related services
The concern is that AI could potentially disintermediate data and information providers like LSEG, adversely impacting its core business of data and information flows that account for 66% of revenue
We believe that LSEG focus on integrating AI into its largely proprietary data streams and workflow tools should counter the AI threat; activist Elliott’s entry is a vote of confidence


LSEG – Activist Involvement Highlights Value and Enhanced Return Potential