Who we are

Our principal analysts have been writing equity research in Asia since the mid-1990s. Forensic Asia was set up by Gillem in 2010 and is 100%-owned by Dr Jim Walker, owner and managing director of Asianomics.

Gillem Tulloch (gillem@forensicasia.com), Founder and Managing Director

Gillem is the founder and Managing Director of Forensic Asia. He has been in Asia since 1995, primarily on the research side. Before coming to Hong Kong for a brief stint with a buy‐side firm, Gillem was CLSA’s head of research in Thailand for many years. In addition to covering Thai equities, Gillem has also covered regional telecoms and electronics and has lived in Singapore, Thailand and Hong Kong. He and his various teams received a number of top rankings over the years in regional polls, including Asiamoney and Institutional Investor. Gillem is Scottish.

Thomas Monaco (tom@forensicasia.com), Managing Director

Mr. Monaco joined Forensic Asia after a stint at Mizuho Securities Asia as Director of Research and Head of the Pan Asia Financial Institutions research team. Mr. Monaco also served as a portfolio manager on the FrontPoint Financial Services Fund in New York prior to returning to Asia. Mr. Monaco has been a ranked sell side analyst for 10 years in New York, Hong Kong, and Tokyo at various bulge bracket Firms. He was also a Senior Bank Examiner at the Federal Reserve Bank of New York.

Andrew Haskins (andrew@forensicasia.com), Executive Director Research

Andrew Haskins has 23 years of financial experience. In his most recent role as co-head of equity research for Mitsubishi UFJ Securities in Hong Kong, he built a greater China team within eighteen months. As head of research for Al Rajhi Capital in Riyadh, Saudi Arabia, he built a well-respected team in a similar short period. Before that Andrew spent two and a half years in Hong Kong as head of Asian telecoms research for Nomura. He moved there from HSBC, where he worked for fifteen years in London, Paris, Tokyo and Hong Kong and was highly ranked as a telecoms and technology analyst in various markets. Andrew started his career at Mercury Asset Management in London. He speaks English, French and Japanese, and holds an MA degree from Cambridge University.

Daniel Tabbush, Guest Writer on bank research

Daniel Tabbush has been highly ranked by Asiamoney, Bloomberg and The Asset for his Asian bank analysis, which began some 20 years ago, making him the longest standing Head of Asian Bank research in Asia. Tabbush made his name analysing banks in Thailand, highlighting bad loan risks for Thai banks before and after the Thai Financial Crisis. He was Head of Asian Bank research for the last 10 years at CLSA, overseeing 10 analysts in Asia and coverage of approximately 80 banks. Before that he was responsible for Thai bank research, firstly at Swiss Bank Corp in 1993 and then at CLSA beginning in 1996. Daniel is American.

Tim Summers, PhD (tim@forensicasia.com), Head of EvaluAsia

Tim is responsible for the Forensic Asia financial stress database and analytics. Tim graduated with a degree in engineering and a PhD in fluid dynamics from Cambridge University.  After a short spell in technical consultancy, he moved into banking and spent ten years on derivatives pricing and risk management in London with Barclays, Credit Suisse and HSBC.  Since moving to Hong Kong in 2006, he worked both on the buy side and as a free-lance technical consultant.  Tim is a British national.

Lisa Mangkornkarn (lisa@forensicasia.com), Head of Marketing

Lisa is Head of Marketing and Administration for Forensic Asia. She has over ten years of experience in equities working as an equities analyst, in corporate finance and latterly in equity and derivative sales. She started her career at Jardine Fleming, with stints at Chase Manhattan and JP Morgan and ended up at Bualuang Securities in Bangkok. Lisa has a BA from Vassar College and an MBA from Sasin, Chulalongkorn University. Lisa is a Thai national.

Some of our guest writers:

Paul L. Gillis, PhD, CPA, Guest writer on Chinese accounting

Paul Gillis is Professor of Practice and co-director of the IMBA program at Peking University’s Guanghua School of Management and is a member of the PCAOB’s Standing Advisory Group. He was a partner at PWC until 2004. Professor Gillis has lived in China for 16 years and his research focuses on transnational accounting regulation.

Brian Hunsaker, Guest OnSite writer

Brian has worked as an equity analyst in Asia since 1994 and has had senior research roles at several firms, including Keefe Bruyette & Woods, Fox-Pitt Kelton, Nomura, and Dresdner Kleinwort. Having lived in Seoul and Hong Kong, he has directly covered stocks in Korea, India, China, Singapore, and Taiwan over the course of his career and has also supervised analysts in other markets. Brian has consistently appeared in polls including Asia Money and Institutional Investor. He is a graduate of the University of Illinois and has degrees in History and International Management. Brian is an American.

Jonathan Pool, Guest writer on Japan company visits

Jonathan has lived in Japan since 1991. He managed to miss the bubble but caught its aftermath. Jonathan survived subsequent financial crises (Asian, Japanese, Global) but he has also broked internet bubbles, bank recapitalization rallies and the great Koizumi Autumn of Love. He may not have seen it all but he has seen a lot. He is a former broker, having worked at US, European and Japanese investment banks over his career. He now works independently, visiting companies in Japan and writing “rock, stock & 2 broking barrels” and “Herd On The Street”. Jonathan is a New Zealander (and Canadian).

Cyrus Mewawalla, Guest writer on forensic accounting

Cyrus Mewawalla is a global technology strategist and founder of CM Research, an independent research provider based in London. Before he became an equity analyst, he was a forensic accountant at PwC, conducting investigations for the Bank of England, overseas governments and corporations, investigating accounting irregularities and fraud. Cyrus is the author of “City of Thieves”, the bestselling novel about conflicts of interest in the global banking sector. Cyrus is a Chartered Accountant and Cambridge graduate and lives in the UK.

Dylan Tinker, Guest writer on factor variables

Dylan is a Portfolio Manager in Singapore. Previously, he worked at Tudor Capital. Dylan moved to Hong Kong in 1993 and worked for Jardine Fleming (now JP Morgan Asia) for six years and was head of TMT research and #1 rated in Asia. Dylan held a similar role at UBS for the following five years and was also #1 Asian ranked. Dylan graduated from the Johns Hopkins School of Advanced International Studies (SAIS). He is American.

James Gruber, Guest writer

James founded the investment newsletter, Asia Confidential, in July 2012. Prior to this, he was a fund manager, stockbroking analyst and journalist in Asia for 13 years. Most recently, I spent two years as a portfolio manager for Asian equities at AMP Capital. For five years before AMP, I was a research analyst at Asian brokerage, CLSA, where I covered multiple sectors in Hong Kong, Singapore, Australia, Malaysia and Indonesia. And in a former life, I was a television and radio news journalist at the Australian Broadcasting Corporation.


Forensic Asia is 100%-owned by Dr Jim Walker, founder and major shareholder of Asianomics. Asianomics is a Hong Kong based independent economic research company providing insights and analysis of policymaking and macroeconomic trends across Asian economies through the Austrian framework. Particular emphasis is placed on the credit and profit cycles which are fundamental to successful investing in any market. Asianomics runs a subscription-based service for institutional clients.

Jim Walker, Founder and Managing Director of Asianomics

Prior to establishing the company in December 2007, Jim was the chief economist at CLSA Asia-Pacific Markets. He joined CLSA in late 1991 and over the years has achieved numerous ‘best economist’ rankings in the Asiamoney, Institutional Investor and Greenwich surveys of fund managers. In the last few years he is best known for forecasting the US 2007 downturn and financial sector meltdown in his series of ‘Apocalypse’ reports. Before coming to Asia, he worked in his native Scotland as a research fellow at the Fraser of Allander Institute for Research on the Scottish Economy, and then at The Royal Bank of Scotland’s Edinburgh headquarters. He holds a Bachelor of Arts Honours degree and a doctorate in economics from the University of Strathclyde, Glasgow.

To find out more about Asianomics, please email admin@asianom.com or go to its website (www.asianom.com).