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Energy Sector Cash Flow Increase Predicted by Nikko Securities Managing Director David Havens March 2, 2021 David Havens, SMBC Nikko Securities, Managing Director Equity Research David Havens joined SMBC Nikko Securities in January 2019 in New York as a Managing Director in Equity Research covering the energy sector. Prior to joining SMBC Nikko Securities, Mr. Havens was a senior energy analyst at Deutsche Bank, head of energy research at CLSA Americas, and a senior energy analyst at Citadel Investment Group. Mr. Havens has 20 years of energy experience, which began at Morgan Stanley in 1999 on the Global Energy Research Team in Houston. In 2005, Mr. Havens transitioned to the Morgan Stanley Principal Strategies Group where he managed an all-asset class energy portfolio.

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