Jason Butler is a Managing Director and equity research analyst focusing on the biotechnology and biopharmaceutical industries. Additionally, Jason serves as Director of Healthcare Research, overseeing JMP’s research coverage of the broader life sciences industry.

Jason has followed the biotechnology sector as an equity analyst for nearly 15 years. Prior to joining JMP Securities, he served as a senior associate equity analyst at Rodman & Renshaw covering biotechnology companies focused on therapies for metabolic and infectious diseases.

Jason won recognition in the 2020 Refinitiv StarMine Analyst Awards, ranking first in earnings estimation in the Pharmaceuticals category.

Jason holds a PhD in neuroscience and a Bachelor’s degree in biology from Imperial College London.

Steve DeLaney is a Managing Director and equity research analyst following residential and commercial mortgage finance. Additionally, Steve serves as Director of Mortgage & Real Estate Finance Research, broadly overseeing the firm’s coverage of non-bank commercial and consumer lenders.

Prior to joining JMP Securities, Steve served as Director of Research at Flagstone Securities. Beforehand, he was a Senior Vice President and research analyst at Ryan Beck & Co., covering banks, thrifts and other mortgage finance companies. He previously spent nearly a decade at BB&T Capital Markets and its parent company, Scott & Stringfellow, serving both as Chief Financial Officer and Director of Capital Markets of Scott & Stringfellow and later as President and CEO of BB&T Capital Markets. Steve began his career with Investors Financial Corporation, a diversified thrift holding company, where he served as President, Chief Financial Officer and Chief Administrative Officer during his 15-year tenure.

Over the years, Steve has won recognition in several categories in the annual StarMine Analyst Awards from Refinitiv and its predecessors, previously ranking first in earnings estimation and fourth in stock picking among all equity analysts nationally. In 2019, Steve ranked first among earnings estimators and second among stock pickers in the Mortgage Real Estate Investment Trusts category.

Steve holds an MBA from the University of Richmond and a BA from the University of Virginia.

Devin Ryan is a Managing Director and equity research analyst covering investment banks, brokers, asset managers, and specialty lenders. As Director of Financial Technology Research, Devin stewards JMP Securities’ coverage of fintech companies that exist at the intersection of traditional finance and technological innovation. Additionally, Devin serves as Head of Business Development for JMP Securities, leveraging his industry expertise and longstanding relationships within the capital markets and financial technology sectors to help chart the future of the firm.

Prior to joining JMP Securities in 2013, Devin spent more than eight years in equity research at Sandler O’Neill & Partners, concluding his tenure there as a Managing Director and senior analyst while covering a range of companies in the capital markets industry with business lines spanning investment banking and securities trading, asset and wealth management, and retail and commercial banking. During his time at Sandler O’Neill, Devin was a three-time winner of the top spot in his sector in an annual ranking of all U.S. equity research analysts conducted by StarMine and published in The Financial Times. He began his Wall Street career in the institutional investor group at Citigroup Smith Barney.

Devin holds a BBA in management information systems from University of Notre Dame.

Pat Walravens is a Managing Director and equity research analyst covering the software sector. As Director of Technology Research, Pat helps oversee JMP Securities’ coverage of the software, internet and digital media, cybersecurity, and IT infrastructure industries.

Pat has followed the software sector as an equity analyst for more than 20 years. During that time, he has initiated research coverage of more than 60 software companies that conducted initial public offerings through JMP Securities, including many of the most successful cloud and SaaS companies.

Prior to joining JMP Securities, Pat served as a Vice President and senior research analyst at Lehman Brothers. Earlier in his career, Pat practiced law at Cooley LLP, where he represented technology companies and venture capital firms.

Pat holds an MBA from the Anderson School of Management at UCLA and a JD from the UCLA School of Law, where he was awarded the Order of the Coif. Pat holds a BA in economics from Stanford University, where he served as an undergraduate teaching assistant in the computer science department. He is an active member of The State Bar of California.

Jordan Bender is a Director and equity research analyst covering the gaming sector, including casinos and resorts, gaming REITs, and online gaming and sports betting.

Prior to joining JMP Securities, Jordan was an equity research analyst at Macquarie Capital, where he followed the gaming, lodging, and leisure industry. He previously concentrated on industrials at Seaport Global Securities.

Jordan holds a BS in economics from the University of Oregon.

Ren Benjamin is a Managing Director and equity research analyst covering the biotechnology and biopharmaceutical industries.

Prior to joining JMP Securities, Ren was a Managing Director and research analyst at Raymond James. He was previously a Managing Director at H.C. Wainwright & Co. and Rodman & Renshaw, after starting his career in biotechnology research at Needham & Company.

Ren holds a PhD in biochemistry and molecular genetics from the University of Alabama at Birmingham and a BS in biology from Allegheny College. He is a past member of the UAB School of Health Professions Dean’s Advisory Board and currently serves on the advisory board of Phacilitate Cell & Gene Therapy.

Andrew Boone is a Managing Director and equity research analyst covering the Internet sector.

Prior to joining JMP Securities, Andrew worked as an equity analyst at Quantum Capital Management with a focus on small- and mid-cap technology companies. He previously held positions at Grant Thornton and Mosaic Financial Partners.

Andrew holds an MBA from The University of Texas at Austin and a BA from The University of Southern California.

Roy Buchanan is a Director and equity research analyst covering the biotechnology and biopharmaceutical industries.

Prior to rejoining JMP Securities, Roy served as a Vice President and senior analyst at Janney Montgomery Scott and as a research associate at Piper Jaffray. He began his equity research career following the biotechnology sector at JMP Securities.

Roy holds a PhD in biology from Columbia University and a BS in chemical engineering from the Colorado School of Mines.

Matt Carletti is a Managing Director and equity research analyst covering property and casualty insurers and reinsurers.

Prior to joining JMP Securities, Matt was a senior research analyst at Macquarie Capital (USA), where he followed the insurance and reinsurance sectors. He previously served in the equity research groups at Piper Jaffray and Fox-Pitt, Kelton.

Matt has previously ranked among the top three stock pickers in the insurance industry, according to the annual FT | StarMine survey of analyst performance.

Matt holds a BS from the University of Virginia’s McIntire School of Commerce.

Trevor Cranston is a Managing Director and equity research analyst covering the mortgage finance industry, including mortgage REITs.

Prior to joining JMP Securities, Trevor worked as an equity research associate at Flagstone Securities covering residential mortgage lenders, mortgage REITs and specialty finance companies.

Trevor won recognition in the 2020 Refinitiv StarMine Analyst Awards, ranking third in earnings estimation in the Mortgage Real Estate Investment Trusts category. In 2017, he ranked second in earnings estimation and third in stock picking in the category. In 2015, Trevor ranked third in earnings estimation in the Real Estate Investment Trusts category. He was previously part of the equity research team that was recognized in several categories by StarMine, ranking first in earnings estimation and fourth in stock picking among all U.S. equity analysts, as well as ranking first among earnings estimators and third among stock pickers in the Real Estate Investment Trusts category.

Trevor holds a BA in economics with honors from the University of Saskatchewan and is a chartered financial analyst.

Kevin Fultz is a Vice President and equity research analyst covering the commercial finance industry, with a concentration on business development companies.

Mitch Germain is a Managing Director and equity research analyst covering real estate investment trusts, or REITs.

Prior to rejoining JMP Securities, Mitch served as Chief Capital Officer at Modiv, an internally-managed REIT focused on single-tenant retail, office, and industrial properties throughout the U.S. He previously spent a decade at JMP Securities as a Managing Director and senior research analyst covering commercial property REITs and property services companies. Earlier in his career, Mitch held equity research and portfolio analysis roles at BofA Securities, RBC Capital Markets, UBS, J.P. Morgan, and ING Clarion.

Mitch holds a BS with a concentration in accounting from Boston University.

Mikhail Goberman is a Vice President and equity research analyst covering the mortgage finance sector, specializing in residential mortgage REITs.

Prior to joining JMP Securities, Mikhail worked as a research analyst at Portales Partners, with a focus on small- and mid-cap regional banks. He previously held positions at Morgan Stanley and Legg Mason Capital Management.

Mikhail holds an MBA from Loyola University Maryland and a BA from Columbia University.

Joe Goodwin is a Director and equity research analyst covering the software sector.

Prior to joining JMP Securities, Joe worked in the software industry in a go-to-market capacity.

Joe holds an undergraduate degree from the University of Nevada, Reno.

Aaron Hecht is a Managing Director and equity research analyst covering housing and land development, REITs, and residential services and technology.

Since joining JMP Securities in 2009 with a concentration on homebuilding and healthcare real estate, Aaron has been instrumental in building out the firm’s broader real estate research effort. Prior to joining JMP Securities, he worked at a private real estate fund within RS Investments that focused on the entitlement and development of master-planned communities.

Aaron holds a BS in economics from the University of Southern California.

Nick Jones is a Director and equity research analyst covering the Internet sector.

Prior to joining JMP Securities, Nick was a senior equity analyst at Citi, where he concentrated on e-commerce, online marketplaces, digital media, advertising and marketing technology, and web presence software.

Nick holds a bachelor’s degree in mechanical engineering and a master’s degree in financial engineering from the University at Buffalo.

Joey Marincek is a Vice President and equity research analyst covering the software industry.

Brian McKenna is a Vice President and equity research analyst covering the capital markets sector, with a focus on investment banks and brokers, alternative asset managers, and financial technology.

Chris Muller is a Vice President and equity research analyst covering the mortgage finance industry.

David Scharf is a Managing Director and equity research analyst covering the consumer finance and financial technology industries.

Prior to joining JMP Securities, David was a Managing Director and research analyst at Banc of America Securities and its predecessor, Montgomery Securities, covering business and computer services from 1996 to 2000. From 1989 to 1996, David worked in the investment banking division of Smith Barney, first as a member of the financial restructuring group and later in the firm’s emerging growth practice in San Francisco. David previously worked for two years at Andersen Consulting, now Accenture, assisting clients with MIS systems design and integration projects in the banking and healthcare industries.

David has previously been ranked first among all stock pickers in the Diversified Financial Services sector in the annual FT | StarMine analyst poll. In the annual “Best on the Street” analyst survey conducted by The Wall Street Journal, he has ranked among the top stock pickers in the Business & Industrial Services category.

David holds an MBA from Harvard Business School and a BA in economics from Cornell University.

Erik Suppiger is a Managing Director and equity research analyst covering IT infrastructure.

Prior to joining JMP Securities, Erik was a Managing Director and research analyst at Signal Hill Capital, covering Internet infrastructure technology and services. He was previously a Managing Director and research analyst at Pacific Growth Equities and a senior analyst at J.P. Morgan and its predecessor, Hambrecht & Quist, following the networking and security sectors. Early in his career, Erik focused on the communications sector as a member of the Deutsche Bank DMG Technology Group.

In 2018, Erik ranked second among all stock pickers in the Communications Equipment category in the Thomson Reuters Analyst Awards, formerly the StarMine Analyst Awards. Erik has previously been ranked by StarMine as the top stock picker in both the Communications Equipment category and the Internet Software & Services category and among the top stock pickers in the Software category. In prior years, Erik placed first in the Telecommunications Equipment category and second in the Internet & Computer Services category in the annual “Best on the Street” analyst survey conducted by The Wall Street Journal.

Erik holds a B.S. in business administration from the Boston University School of Management.

Silvan Tuerkcan is a Director and equity research analyst covering the biotechnology and biopharmaceutical industries.

Prior to joining JMP Securities, Silvan was an Executive Director and senior research analyst at both UBS and Oppenheimer & Co. with coverage of small- and mid-cap biotechnology companies. He previously worked in equity research at Goldman Sachs, where he concentrated on large-cap pharmaceuticals. Silvan began his career as a postdoctoral fellow both at Institut Pasteur & Ecole Polytechnique in France and later at the Stanford University School of Medicine.

Silvan holds a PhD in biophysics from France’s Ecole Polytechnique, an MSc in engineering physics from Germany’s TU Munich, and a BSc in physics from Canada’s McGill University.

David Turkaly is a Managing Director and equity research analyst focused on the medical devices industry.

Prior to joining JMP Securities, David served as a senior research analyst at Susquehanna International Group, where he covered medical devices for six years.  He was previously a Managing Director and senior analyst covering the medical devices industry at WR Hambrecht + Co. and a Director and senior analyst primarily following the neurological and orthopedic markets at CIBC World Markets Corp.  Earlier in his career, David worked in healthcare equity research at ING Barings and in healthcare investment banking at Smith Barney.

David holds an MBA from Columbia Business School and a BS in accounting from University of Richmond.

Trevor Walsh is a Vice President and equity research analyst covering the cybersecurity sector.

Prior to joining JMP Securities, Trevor worked in business development and product marketing at Tanium, an endpoint security provider. He was previously a Special Agent in the Counterterrorism, Criminal, and Cyber Divisions of the Federal Bureau of Investigation and a military intelligence officer in the U.S. Navy supporting SEAL teams in counterterrorism operations. Trevor began his career in the investment banking group at J.P. Morgan, concentrating on the software and communications industries.

Trevor holds an MBA from the University of Southern California and a BA from Princeton University.

Jonathan Wolleben is a Director and equity research analyst covering the biotechnology and biopharmaceutical industries.

Prior to joining JMP Securities, Jon concentrated on the biopharmaceutical industry as an analyst and writer at BioCentury Publications.

Jon holds an MS in biotechnology management and a BS in biological sciences, both with honors, from Carnegie Mellon University, where he was a captain of the varsity basketball team.