Investment strategy consulting for 40+ Years
Founded in 1986, LCV Research began as a partnership with a French association of PhD economists.
Since day one, our purpose has been the same: deliver independent, decision-ready insight to professional investors and corporate leaders. From the start we’ve focused on global macro-identifying cyclical and structural shifts and turning them into clear views for investment strategy.
Over the years we expanded into global, cross-asset research — equities, fixed income, FX, commodities — and we provide executive training in economics and financial markets.
A team of five macro strategists
Jean-Pierre Petit
Jean-Pierre has been Chairman of LCV Research since 2009. He was previously head of Economics and Strategic Research at Exane-BNP Paribas (1999-2008) and Deputy Head of Economics Research at BNP (1995-1999).
A graduate of Institut des Sciences Politiques in Paris, he also holds a master's degree in international economics and a Master’s degree in law. He started his career at the Banque de France (1986 to 1994) and has also been a consultant for the IMF. He has written several award-winning books, including “La finance, autrement” (Dalloz, 2005), Prix Spécial Turgot, and “La Bourse, rupture et renouveau” (Odile Jacob, 2003), Grand Prix Turgot for the best financial economics book.
Jean-Pierre Petit was named top market economist by the Extel-Agefi Grands Prix in France for six years in a row (2002-2007). He's a columnist for Le Monde, l’Expansion, l’Agefi, Le Figaro and Banque Magazine, and is a regular contributor to BFM Business, Radio Classique etc.
Marc de Scitivaux
Marc de Scitivaux is LCV's founder. He managed the company between 1997 and 2009. He was previously managing director of Cursitor-Cecogest (1988-96).
A graduate of Institut des Sciences Politiques in Paris, he started his career as a financial analyst at Indosuez. He then joined the Ministry for Industry (1978-1982) before being appointed Director of Development at Sofaris (1982-86). He was a project lead at the Ministry for Industry under Alain Madelin (1986-88).
He is a regular contributor to BFM Business, LCI, i>Télé, Radio-Classique, etc.
Raphaël Cesari
Raphaël joined LCV Research in 2009 as a macro strategist. He was previously an economist at Exane-BNP Paribas (2007-2008) after starting out at asset management firm Montpensier Finance
Raphaël has a Master’s degree in economics and finance from the University of Paris-X Nanterre. He also was an exchange student at Stockholm University.
Emmanuel Kragen
Emmanuel has over 25 years of experience in financial markets, working as a macro strategist across both the sell-side and buy-side.
Before joining the firm, he served as a Chief Strategist at Kepler Cheuvreux Solutions (2017–2022). Prior to that, he created and managed the Flexible Allocation fund at La Financière de l’Echiquier (2015–2017). He also held roles at Exane (2000–2015), BNP Paribas (1999–2000), and Société Générale (1994–1999).
Emmanuel is a graduate of ENSAE Paris Tech and holds a Master’s degree in Economic Analysis and Policy from the Paris School of Economics.
David Hennequin
David joined LCV Research in 2015. He was previously a macro strategist at AG2R La Mondiale (2007-2015), after starting his career at Montségur Finance as an assistant fund manager and at Société Générale CIB as an internal auditor.
A graduate of the University of Paris I Panthéon Sorbonne, with a Master’s degree in Finance, David is also a member of the French financial analysts’ association (SFAF).
