Francis joined the firm in 2006 and has developed a proprietary global macroeconomic research structure to support the fixed-income group's investment process, and also provides investment ideas and strategic asset allocation recommendations. From 1984 until 2005, Francis was a principal of the BCA Research Group ('BCA'), formerly the Bank Credit Analyst, and head of global investment strategy. BCA is well known in the investment community for providing high quality and independent top-down macro forecasts and investment strategy. In addition to his strategist's role, he drove product development at the firm and contributed to its growth until the firm was sold in 2001. In the final three years at BCA, Francis was Editor-in-Chief of all the firm's investment research products. He spent several years in the policy departments of the Bank of Canada in the early 1980s working in the areas of monetary, economic and financial analysis. Francis has a Master's degree in Economics from the University of Western Ontario in London, Canada and an Honors BA in Economics from Queen's University in Kingston, Canada. He has lectured at a variety of economic, financial and investment conferences/seminars across North America, Asia and Europe and has written several editorials and essays for a range of financial publications including the Financial Times of London.