What Cornerstone Macro does

Cornerstone Macro, founded in 2013 and headquartered in New York, is an independent macro-focused research firm serving institutional investors. It was acquired by Piper Sandler Companies (NYSE: PIPR, founded 1895, Delaware-incorporated) in 2020 and now operates as a wholly-owned subsidiary within Piper Sandler's macro research division while retaining the Cornerstone Macro brand. The firm delivers actionable macro intelligence to institutional clients through a combination of dedicated client portals, thematic research reports, webinars, and event-driven notes. Its stated customer base is institutional investors requiring focused, best-in-class macro research for equities, fixed income, and foreign exchange markets.

The company's product platform is anchored by two primary client portals — an Economics Portal providing market-oriented analysis and forecasts of the global economy, and a Portfolio Strategy Portal offering process-driven investment recommendations across asset allocation, profit-cycle analysis, and portfolio construction. These portals are complemented by specialized research services: Portfolio Insights (customizable portfolio analytics tools and interactive stock-selection screens), Global Policy Research (central bank and fiscal policy analysis covering the Fed, ECB, BOJ, BOE, PBOC), U.S. Policy Research, Energy Research (oil, natural gas, renewables, ESG), and Technical Research underpinned by the proprietary Piper Sandler MicroGroup Project. The Technical Research team additionally manages the Piper Sandler Select Opportunities Fund (SOTOPUS), translating research IP into an investable product.

Cornerstone Macro generates revenue through subscription-based access to its institutional research platform distributed via Piper Sandler's institutional channels, including the BlueMatrix research portal. Pricing is not publicly disclosed. The firm's competitive positioning rests primarily on talent — analysts ranked No. 1 by Institutional Investor in Portfolio Strategy and Economics and No. 5 in Washington Policy and Technical Research — supplemented by proprietary methodologies (notably the MicroGroup Project) and a stated commitment to independent, impartial insights across economic, policy, and political developments.

Name

Cornerstone Macro

Legal name

Piper Sandler Companies

Website

https://cornerstonemacro.com

Company type

Public

Founded year

1895

Operating status

Operating

Headcount range

51–100 employees

Short description

Cornerstone Macro, founded in 2013 and acquired by Piper Sandler in 2020, provides independent macro-focused research to institutional investors. The firm offers economics, portfolio strategy, policy, energy, and technical analysis through subscription portals, thematic reports, and a proprietary investment fund.

Ownership category

akta.pro rank

Product category

Institutional Investment Research

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Investment Advice (6282)

akta.pro primary industry

Macro & Rates Research (FSACAGAC)

akta.pro secondary industries

Strategy & Thematic Research (FSACAGAG), Economic & Macroeconomic Research (BPAHALAD), Sector-Specific Industry Research (FSACAGAL)

Keywords

• Macro research
• Economic forecasting
• Portfolio strategy
• Investment research
• Policy analysis

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Others

Core offering

Cornerstone Macro, now part of Piper Sandler's Macro Research division, provides institutional macro-focused investment research covering economic forecasting, portfolio strategy, global policy, U.S. policy, technical research, and energy research. Research is delivered through proprietary Economics and Portfolio Strategy portals, Portfolio Insights analytical tools, and topical research streams that translate macro views into actionable ideas across equities, fixed income, commodities, and currencies.

Product overview

Piper Sandler's Macro Research division (formerly Cornerstone Macro Research) offers a unified research platform combining multiple specialized research services. The core offerings include the Economics Portal and Portfolio Strategy Portal as the primary analytical platforms, supplemented by specialized research services in Portfolio Insights, Global Policy, U.S. Policy, Technical Research, and Energy. The research is delivered through weekly publications, thematic webinars, and timely insights on event-driven issues, with the Economics and Portfolio Strategy Portals serving as the primary client-facing platforms. The Technical Research team also manages the proprietary SOTOPUS investment fund.

Differentiator

Problem solved

Functional benefit

Products and services

• Economics Research Subscription
• Portfolio Strategy Research Subscription
• Portfolio Insights
• Global Policy Research
• U.S. Policy Research (Washington Policy)
• Technical Research
• Energy Research
• Quantitative Research
• Piper Sandler MicroGroup Project

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Capital Economics: Capital Economics is a leading independent macroeconomics research firm serving institutional clients with global economic forecasts, country risk analysis, and thematic research. Directly comparable to Cornerstone Macro's economics and policy research offerings.
• Variant Perception: Variant Perception is an independent macro research firm providing subscription-based research to institutional investors, with a focus on differentiated macro and policy views. Comparable to Cornerstone Macro's subscription research model and institutional client base.
• Gavekal Dragonomics: Gavekal provides independent macro and policy research with particular strength on China and emerging markets. Comparable to Cornerstone Macro as an independent macro research provider serving institutional investors with subscription-based economic and policy analysis.
• BCA Research: BCA Research is one of the largest independent global macro research firms, providing investment strategy and economic research to institutional investors. Directly comparable to Cornerstone Macro in business model, customer base (institutional investors), and product focus (macro/economics/policy).
• Evercore ISI: Evercore ISI is an independent research-led advisory firm providing macro, policy, and sector research to institutional clients. Closely comparable to Cornerstone Macro in the institutional research business model, with similar coverage breadth and analyst-driven differentiation.
• TS Lombard: TS Lombard is an independent macro research firm providing global macro, policy, and sector analysis to institutional investors. Comparable to Cornerstone Macro in independent macro research delivery and institutional subscription model.

Broad incumbents

• Moody's Analytics: Moody's Analytics provides macroeconomic research, forecasting, and credit risk analytics to institutional clients globally. A broad incumbent with overlapping economics and macro research offerings, though with a stronger credit/risk orientation than Cornerstone Macro.
• Goldman Sachs Global Investment Research: Goldman Sachs operates one of the largest and most influential sell-side research franchises globally, with deep macro, economics, and portfolio strategy coverage. A broad incumbent competing with Cornerstone Macro for institutional research wallet, though bundled with broader execution and banking services.
• J.P. Morgan Global Research: J.P. Morgan operates a top-ranked global research franchise covering macro, economics, fixed income, equities, and commodities. A broad incumbent competing directly with Cornerstone Macro on institutional macro research, supported by significantly larger resources and distribution.

Emerging players

• Independent Strategy (David Roche): Independent Strategy is a boutique macro research firm founded by David Roche, providing global investment strategy research to institutional clients. Smaller and more focused than Cornerstone Macro but directly comparable in independent macro research business model.

Market position

Strengths5 records

Weaknesses2 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/csm_research
• Facebookfacebook.com/pipersandler
• LinkedInlinkedin.com/company/pipersandler

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cornerstone Macro