Neil Shearing

Group Chief Economist

Neil Shearing is our Group Chief Economist. He has overall responsibility for managing our team of economists and leading our research, as well as developing the firm’s products and its relationship with clients. He is also a director of the company. Neil is the first point of contact for many clients and presents regularly on the global economic and financial market outlook. He is a well-known voice within the investment community and has written articles in the Financial Times and a number of other newspapers, as well as appearing regularly on TV and radio. Prior to becoming Group Chief Economist, Neil was our Chief Emerging Markets Economist, managing a team that won several awards for forecast accuracy. He also managed our New York office. Neil joined Capital Economics from HM Treasury where he worked as an Economic Adviser in various areas, including fiscal policy and global economics. He holds degrees in Economics from the University of York and the University of London and is a Fellow of the Royal Society of Arts.

Andrew Kenningham

Chief Europe Economist

Andrew Kenningham is our Chief Europe Economist. He has overall responsibility for running our European economics service and contributes more generally to our international economic analysis. Andrew joined Capital Economics in 2011 and has extensive experience as an international economist, most recently as Deputy Chief Economist in the Foreign and Commonwealth Office. Andrew previously worked for Merrill Lynch for eight years, covering Emerging Europe, Middle East and Africa for their fixed income business. Andrew has lived and worked as an economist in both Bulgaria and India. He has degrees in Economics and Economic History from Manchester University and the London School of Economics.  

Jack Allen-Reynolds

Deputy Chief Euro-zone Economist

Jack Allen-Reynolds is our Deputy Chief Euro-zone Economist and has nearly a decade’s experience analysing the euro-zone economy and ECB. He regularly presents to clients on the economic and financial market outlook, and comments on economic developments in the media. Before joining the company in 2013, he worked as a Portfolio Manager at the Bank of England and an Assistant Economist at HM Treasury. Jack has degrees in Economics from the University of Sheffield and Economic History from the London School of Economics.

Franziska Palmas

Senior Europe Economist

Franziska Palmas is a Senior Europe Economist with an expertise in the German and Italian economies. She joined the company in 2018 and previously worked on the Global Markets team with a focus on European markets. She holds an undergraduate degree in Business Administration and Economics from the University of Passau (Germany) and masters degrees in Economics and Economic History from Barcelona School of Economics and London School of Economics. She is a native Italian and German speaker.

Paul Dales

Chief UK Economist

Paul Dales is our Chief UK Economist, with overall responsibility for our UK Economics and UK Markets services. Paul joined Capital Economics soon after it was founded in 1999 and has previously been our Chief Australia & New Zealand Economist and Senior US Economist. In 2022, he led the team that was named UK Economics Forecaster of the Year by the Sunday Times. In 2016, the Australian Financial Review judged him to be Australia’s economist of the year as “he made all the right calls in a market that most chief economists found hard to read”. In 2011, he was named Bloomberg’s US house price forecaster of the year. And in 2010, he was part of the US team that was named Wall Street Journal US forecaster of the year. Paul regularly writes articles for the London Evening Standard and frequently appears on TV and radio. He holds degrees in Banking & Finance and Economics from Loughborough and London universities and the UK FSA recognised Securities Institute Diploma.

Jonas Goltermann

Deputy Chief Markets Economist

Jonas Goltermann is the Deputy Chief Markets Economist at Capital Economics and heads up the FX Markets service. Jonas joined Capital Economics in 2019 from ING Wholesale Banking, where he worked in the Global Macro Research team. Before that, he worked as an economist at the Bank of England and the UK government’s Department for International Development. He holds degrees from Northwestern University, the University of Edinburgh, and the College of Europe.