THE GLOBAL MARKET UPDATE SERIES:

Winnie Cisar

Global Head of Strategy
CreditSights

Winnie is the Global Head of Strategy at CreditSights. Prior to joining CreditSights, Winnie was a Managing Director and the Head of Credit Strategy for Wells Fargo, leading the research teams focused on the corporate investment grade and leveraged finance markets. At Wells Fargo, Winnie developed the leveraged finance strategy product, rolling out coverage on high yield, leveraged loans, and the distressed market. With more than 10 years of experience in institutional research, Winnie has emerged as one of the leading voices in corporate credit strategy and is a frequent guest on CNBC, Bloomberg, NPR, and Yahoo Finance.

Josh Esterov, CFA

Head of Insurance
CreditSights

Josh joined CreditSights in 2013 and covers the insurance sector. His areas of expertise include the health insurance, life insurance, P&C insurance, and monoline insurance sectors. Before joining CreditSights, Josh was part of the Government Relations team for MetLife and served as a liaison to the Federal Reserve and state insurance departments. Josh is a CFA charterholder and has an MBA from New York University (Leonard M. Stern School of Business) with a specialization in Financial Markets and Instruments, Corporate Finance, and Global Business. He received his bachelor’s degree in Finance and History from Rutgers University.

Andy DeVries, CFA

Head of Investment Grade, Head of Utilities
CreditSights

Andy has over 20 years of experience covering the natural gas & power sectors. During that time, he has analyzed securities across the capital structure including loans, bonds, prefs, subordinated bonds and, in the case of his prior MLP coverage, general and limited partnership interests. On the HY Power side, Andy has covered the sector through a full boom-bust cycle, from initial IPO and spin-offs, through bankruptcy and then re-emergence as publicly traded equities.He joined CreditSights’ Utility & Power team in late 2002 from Credit Suisse First Boston, where he was an equity associate in the Natural Gas & Power group covering the various sub-sectors of distribution, pipelines, integrated electric companies, independent power producers and merchant energy companies from 2000-2002. In 2001, this team won the coveted Institutional Investor #1 ranking. Prior to CSFB, he worked as a Portfolio Analyst in Scudder Kemper’s Global Equity Group, gaining valuable insight into the operation of institutional money management (1998-2000). In 2006, Andy spun off from the CreditSights utility team to launch coverage of the then newly emerging MLP sector. In 2016, he returned to his utility/power roots to become the firm’s Senior Utility & High Yield Power analyst and in 2018, he added the Co-Head of U.S. IG Credit title. Andy became a CFA Charterholder in 2003, earned his CFA ESG certificate in 2023 and received a Bachelor of Science, majoring in Economics, from Clemson University in 1998. He is a member of the New York Society of Securities Analysts the CFA Institute.