7 Montreal Teams Take Up the Research Challenge

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Published 24 November at 03:00PM, inNews


The 2022–2023 Research Challenge, hosted by CFA Montréal and CFA Québec, officially kicked off on November 23. This international competition, created by the CFA Institute, gives thousands of students an opportunity to learn best practices in financial analysis. This year’s participants, hailing from four Montreal universities, gathered to learn which company would be the focus of their in-depth analysis.

The globally recognized Research Challenge gives aspiring investment professionals the chance to apply the theoretical knowledge they acquire during their studies to a real-world context, while they hone their research, analytical and corporate valuation skills. Last year, more than 5,000 students from 900 universities around the world signed up.

During the launch, entitled "Analyst’s Day," CFA Montréal President Odrée Ducharme, CFA, along with Danielle Filistin, CFA, representing the University Relations Committee, and Marie-Pier Gosselin, CFA, from CFA Québec, welcomed the seven competing teams from Concordia (2), HEC Montréal (1), McGill (3) and Polytechnique (1). Olivier Benoît, a member of the HEC Montréal team and a finalist at the local level last year, and Jérôme Dubreuil, CFA, shared some tips with this year’s participants to help them prepare.

Mentors from the Montreal financial community and a faculty member from each university will guide the team throughout the process, helping them track down what they need to complete their analysis.

Analyzing a fintech company

Every year, participants are eager to learn the name of the company that will be the focus of the Research Challenge analysis. This time around, the organizers decided on Tenet Fintech Group, the parent company of a group of innovative firms specializing in fintech and artificial intelligence.

Dimitrios Gianarakis, Tenet’s Director of Finance, was on hand to talk about his company, which is hard at work building an AI-powered network. Their objective is to ensure that all small and medium-sized businesses have access to the tools, resources and services they need to take their organization to new heights and break into new markets. Research Challenge participants learned about the revenue and growth models for Tenet’s Business Hub™ in China, as well as the latest developments regarding a series of Business Hubs worldwide, including Canada.

Next steps of the competition

In the coming weeks, each team will draft an equity research report on Tenet, which they will subsequently present to a panel of high-level experts. The winning team will be announced in February 2023 and will go on to represent Quebec at the regional quartier finals.

The four top teams at the regional quarter finals will qualify to compete for Canada at the semifinals for the Americas. After that are the finals for the Americas and, finally, the Global Finals, the winners of which will be crowned the 2023 Research Challenge World Champions.

CFA Montréal, CFA Québec and event sponsor CDPQ hope that all participants enjoy and are enriched by the experience. Thanks to all the volunteers, mentors and professors for giving of their time and expertise. Best of luck to each of the teams!


Some pictures of the "Analyst’s Day"


Odrée Ducharme, CFA, President of CFA Montréal


Marie-Pier Gosselin, CFA, from CFA Québec


Danielle Filistin, CFA, Chair of the University Relations Committee


Olivier Benoît, a member of the HEC Montréal team and a finalist at the local level last year


Olivier Benoît, a member of the HEC Montréal team and a finalist at the local level last year


Jérôme Dubreuil, CFA