Raffaella is one of the most knowledgeable and insightful European macro economists with deep expertise and value-added perspective across the entirety of this important region. Over many years her insights into the political economy of the Eurozone and Emerging Europe have proven valuable to me and to our investment process.

Raffaella Tenconi founded ADA to provide an innovative brand of research combining extensive experience and impressive credentials in macroeconomic and market analysis with novel insights from extensive field and survey work in a number of European economies. Her mission has become a remarkable success. Her combination of sound economic analysis and in-depth surveys and her passion for questioning the “established wisdom” have allowed Raffaella to provide deep and novel insights into the interplay of economics, finance and politics in the countries she analyzes. Her intellectual rigor and – if necessary – courage to challenge consensus views have enabled her to make some impressive and valuable calls like her out-of-market prediction that Britain would vote for Brexit. Her work has helped me to significantly deepen my understanding of the forces shaping the future of "Project Europe".

Over the many years I have known Raffaella Tenconi, she has demonstrated outstanding analytical and technical competence in the field of macroeconomic research. I was a regular reader of her work both during the years I worked as a fund manager and also later when I served as a ministry official. Her professional track record in covering not only CEE but also euro area macroeconomic developments has earned her an excellent reputation in investment banking and asset management circles.