Pioneer Investments has hired Craig D Sterling as senior vice president, head of equity research, US.

Sterling will manage Pioneer's team of 14 analysts based in Boston who support the firm's investment in US equities across strategies (approximately $29bn).

“Craig arrival represents a significant opportunity to continue to strengthen our research platform and processes,” said Marco Pirondini, head of equities, US 

“Craig’s approach to equity valuation is very much aligned with Pioneer Investments’ established practices, and he brings experience and perspective that can add tremendous value to our research team.”

Sterling was previously managing director and head of global equity research at EVA Dimensions, an independent equity research firm based in New York. He has extensive experience developing economic value added (EVA)-based equity research and implementing structure into the fundamental investment decision process. 

EVA is an alternative to standard accounting-based metrics such as earnings per share, net income, and earnings before interest, taxes, depreciation, and amortization (EBITDA). 

The method is for measuring a company’s true profit by converting accounting profit to economic profit, reversing accounting distortions, and measuring the dollar value of profit after all costs, including the cost of giving shareholders a fair return on invested capital. 

Before EVA Dimensions, Sterling held senior positions in the Credit Suisse Group’s investment banking division, including the HOLT research and content franchise.

Current co-heads of US equity research, Paul Cloonan and John Peckham, will focus on portfolio management going forward. Cloonan will focus exclusively on US large-cap growth equity portfolio management. Peckham will focus on US value equity portfolio management.