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First Round Judges

In the 1st round of the Competition, one team from each school consisting of two to three students submits a maximum ten page (plus necessary exhibits) research report to the competition managers in late January of the year of the competition. The research report is of a single stock from a pre-determined list of value stocks that is shared with participating schools ten days prior to the submission deadline. 1st round judges include the following industry professionals:

Associate Director, BDC IT Venture Fund, Toronto, ON

Mr. Gopal is an Associate Director with the BDC IT Venture Fund. Ajay supports deal sourcing, due diligence and assists portfolio companies with operational and strategic initiatives. Ajay joined the Fund with over 7 years of capital markets experience beginning his career in investment banking with Citigroup in New York. Ajay also spent two years at distressed private equity firm, Fundamental Advisors, focused on investing and turning around distressed projects. It is at Fundamental where Ajay's interest in value investing and being a contrarian to the market was originally ignited. Upon returning to Canada, Ajay spent two years at a hedge fund, investing across the credit spectrum from investment grade to distressed. Ajay holds a MBA from the Ivey Business School in London, Ontario, Canada, a BSc Electrical Engineering and a BA (Hons) Major in Economics both from Queen’s University in Kingston, Ontario, Canada. Ajay is also a CFA charterholder.

Associate Portfolio Manager, British Columbia Investment Management Corporation, Victoria, BC

Mr. Gryba is an Associate Portfolio Manager on the Global Fundamental Team of BCI. Scott joined BCI in 2014 after working as a Senior Associate in the Mining Research Group with BMO Capital Markets. Prior to BMO, Scott practiced engineering as a consulting Civil Engineer. Scott has a BSc from UBC, a MBA from the UWO and is a member of the Association of Engineers and Geoscientists of British Columbia. Scott has also been a member of the Advisory Board for the University of Western Ontario Value Fund since its 2013 inception.


Investment Analyst, Bristol Gate Capital Partners, Toronto, ON

Mr. Taxildaris earned a BA in Economics from Democritus University of Thrace in Greece. After his graduation he fulfilled his one-year military obligations at the Hellenic Air force. Then he moved to Germany to work at Lingohr & Partner Asset Management GmbH in Düsseldorf for 2 years as an Assistant Portfolio Manager. Afterwards, having heard about the Ben Graham Centre for Value Investing, he decided to pursue an MBA at the Ivey Business School. Upon graduation, he was involved as an Analyst with the Ivey Value fund and in 2013 joined Morningstar, Inc. as Manager Research Analyst. Achilleas joined Bristol Gate Capital Partners in 2017 as an Investment Analyst. He has been interested in Value Investing since 2005 and has read an extensive amount of related literature. His group won the FAIRFAX Financial Holdings award for their final project at the course of Value Investing. He has passed the CFA Level II exams and speaks fluently Greek, English and German.

Vice President, High Yield Capital Markets, RBC Capital Markets, Toronto, ON

Mr. Vergara is a 2013 graduate, with distinction, of the MBA program at the Ivey Business School at Western University located in London, Ontario, Canada. Edgar is currently working in the High Yield Capital Markets group at RBC Capital Markets, focused on structuring and originating Canadian dollar high yield credit. Prior to attending Ivey, Edgar was a Portfolio Manager at Stanton Asset Management, responsible for North American high yield and Canadian convertible debt. Edgar also holds a Bachelor of Commerce (with distinction) from Concordia University and is a Level III CFA Candidate.


Portfolio Manager, Sionna Investment Managers, Toronto ON

Ms. Zabielska joined Sionna in 2012 and is a portfolio manager. Prior to joining Sionna, she spent one year in the Financial Management Program at General Electric. Marlena earned her honors business administration from the Richard Ivey School of Business at the University of Western Ontario and is a CFA charterholder.