TS Lombard

TS Lombard is a macroeconomic forecasting and investment research consultancy headquartered in London, with additional offices in New York and Hong Kong. The business was established in 1989 as Lombard Street Research, commonly abbreviated as LSR, by British economist Tim Congdon. It developed a reputation for independent, non-consensus analysis of monetary policy, economic cycles, financial conditions and investment markets. The firm's work has traditionally been directed at professional and institutional users rather than retail consumers. Its client base has included asset managers, hedge funds, pension funds, central banks, private-equity firms, investment banks and large corporations. Research and advisory work has covered major economies and regions including the United States, China, the eurozone, the United Kingdom, Japan and South Korea. TS Lombard's analytical approach combines elements of Keynesian and monetarist economics. Its forecasting framework has placed particular emphasis on money supply, sectoral financial balances and flow-of-funds analysis, alongside conventional macroeconomic indicators. The firm has presented its research as independent and willing to challenge prevailing market or policy consensus. In 2005, it was identified among the relatively small number of forecasters that anticipated the broad risks associated with the global financial crisis that emerged in 2008. Charles Dumas joined the firm in 1998 to lead its international forecasting service and became chief economist in 2005. His tenure contributed to the firm's public profile as a source of contrarian macroeconomic commentary, although the available reference material does not establish a complete list of former or current senior executives. The business changed ownership in 2016 when it was acquired by TSL Research Group. In September 2022, GlobalData acquired the company and subsequently positioned it as a division of the wider information and analysis group. The transaction was intended to extend TS Lombard's research and advisory offering across more areas of the asset-management industry. Following the acquisition, the TS Lombard name continued to represent a specialist macroeconomic research capability within GlobalData. The available material does not provide independently verified figures for revenue, staff numbers, valuation or assets under management.

TS Lombard began operations in 1989 under the name Lombard Street Research, or LSR. It was founded by Tim Congdon, a British economist associated with monetarist analysis of macroeconomic policy. From its beginning, the firm focused on producing independent economic forecasts and investment research for professional users. Its stated approach was to challenge consensus views rather than simply reproduce prevailing market expectations. The firm's research model combined Keynesian and monetary perspectives. It examined the interaction between economic demand, monetary aggregates, sector financial balances and flows of funds. This framework was used to assess economic conditions, monetary policy and financial-market risks across major countries and regions. Its coverage eventually included the United States, China, the eurozone, the United Kingdom, Japan and South Korea. Charles Dumas joined Lombard Street Research in 1998 to take responsibility for the international forecasting service. He became chief economist in 2005. During this period, the company was noted for its willingness to issue forecasts that differed from the dominant market narrative. The available reference material states that in 2005 the firm was among the relatively few forecasters to anticipate the risks that later became associated with the 2008 global financial crisis. Lombard Street Research served a specialist institutional audience. Its clients included asset managers, hedge funds, pension funds, central banks, private-equity firms, investment banks and corporations. Services included recurring research, macroeconomic forecasts, investment analysis and advisory support. The business was not primarily a consumer-facing financial brand and the available information does not indicate that it operated as a deposit-taking bank, broker or retail asset manager. In 2016, the company was acquired by TSL Research Group. A further ownership change occurred in September 2022, when GlobalData acquired the business. GlobalData described the acquisition as a way to extend Lombard's services to additional parts of the asset-management market. After the transaction, the business operated as TS Lombard, a GlobalData division, while retaining its specialist focus on macroeconomic research and forecasting. It is headquartered in London and has offices in New York and Hong Kong. Detailed information about its current leadership, financial performance, employee count and post-acquisition operating structure is not established by the supplied reference material.

• 2022

  Acquisition by GlobalData

  [1]TS Lombarden.wikipedia.org

  GlobalData acquired the company in September 2022 and made it a division of the group.

• 2016

  Acquisition by TSL Research Group

  [1]TS Lombarden.wikipedia.org

  The research consultancy was acquired by TSL Research Group.

• 2005

  Dumas becomes chief economist

  [1]TS Lombarden.wikipedia.org

  Charles Dumas became chief economist. The firm was also identified as an early forecaster of risks that preceded the 2008 financial crisis.

• 1998

  Charles Dumas joins the firm

  [1]TS Lombarden.wikipedia.org

  Charles Dumas joined Lombard Street Research to lead its international forecasting service.

• 1989

  Lombard Street Research founded

  [1]TS Lombarden.wikipedia.org

  Tim Congdon founded the macroeconomic forecasting consultancy that initially operated as Lombard Street Research, commonly known as LSR.

Independent, research-led and deliberately non-consensus macroeconomic analysis for institutional investors and other professional decision-makers.

• Economic research · 1989

  Macroeconomic forecasting

  TS Lombard produces forecasts and analysis for major economies and regions, including the United States, China, the eurozone, the United Kingdom, Japan and South Korea. Its work is designed for professional users assessing economic cycles, policy developments and investment risks.

• Investment research

  Global investment research

  The firm's investment research applies macroeconomic analysis to questions relevant to asset managers, hedge funds, pension funds, banks and other institutional investors. Its stated differentiator is an independent and sometimes contrarian interpretation of economic and financial developments.

• Professional advisory services

  Advisory and bespoke analysis

  In addition to recurring research, TS Lombard provides advisory and analytical support to institutional and corporate clients. The supplied material does not specify the current structure, names or pricing of individual advisory packages.

• 2022

  GlobalData acquisition and integrationM&A

  Background

  GlobalData sought to expand the reach of its information and analysis services within the asset-management industry.

  Action taken

  GlobalData acquired TS Lombard in September 2022 and incorporated it as a division.

  Aftermath

  TS Lombard remained a specialist macroeconomic research business within GlobalData. No verified transaction value or other financial terms are provided in the reference material.

  Source

• 2016

  Change of ownership through TSL Research Group acquisitionM&A

  Background

  Lombard Street Research operated as a specialist macroeconomic research consultancy before being acquired by TSL Research Group.

  Action taken

  TSL Research Group acquired the company.

  Aftermath

  The business continued its macroeconomic research and forecasting activities under the subsequent TS Lombard identity.

  Source

1. 1TS Lombarden.wikipedia.org
2. 2TS Lombard websitelombardstreetresearch.com