2024 Strategic Summit

Every great communicator has an “X factor” that makes people want to listen when they speak. It isn’t always clear what the factors are that play into this gift, but you know when someone has it.

Peter Ricchiuti has it.

Ricchiuti possesses a limitless excitement about the financial markets that has spanned his adult life. He is a self-proclaimed “realistic optimist,” who actively tries to cut through the widespread misinformation that dominates much of the economic conversation, but his expertise goes beyond mere excitement and positivity.

Ricchiuti is also an expert in the energy industry. “One of the interesting things we’re seeing right now is the lack of confidence the large energy companies have in the future of oil. They’re drilling in the West Texas Shale fields, where oil is easy and cheap to get, but there’s no drilling happening in the Gulf,” Ricchiuti says. “It takes around 10 years from when a company bids on a contract in the Gulf to when that oil reaches the market. Of course, these companies aren’t publicly saying they’re not confident in the future profitability of oil, but their actions are showing it.”

When asked why companies lacked confidence, Ricchiuti quickly answered, “EVs [electric vehicles] are the primary reason. Regardless of your opinions on EV, it’s extremely important to the younger generations, which means oil will likely be less profitable in the decades to come. Oil companies are putting their money into renewables, but the grid needs to be strengthened to prepare for the future demands of EV.”

From the start of his career, Ricchiuti showed a unique combination of communicative prowess and the talent to back it up. “After I graduated from Babson College, I began my career with the investment firm of Kidder Peabody before managing the state of Louisiana’s $3 billion investment portfolio, serving as the Assistant State Treasurer.”

While pursuing a career in academia at Tulane University, Ricchiuti founded Burkenroad Reports, the nation’s first university-sponsored securities analysis course. “In this program, 200 students divide up into teams to follow 40 small-cap public companies across the Gulf Coast, traveling to company headquarters, designing financial models, and meeting with management to learn how to publish investment research reports.”

Ricchiuti both created and hosts a podcast on National Public Radio in New Orleans called “Out to Lunch,” in which he interviews local business owners, gaining insight into how business is conducted and developed in the local community. “I can’t believe they are still letting me do it after 13 years. I learn so much about how business is changing and developing over time.”

At Catalyst’s Economic & Payments Forum 2023, credit union professionals can expect to walk away from Ricchiuti’s presentation with a better understanding of “how the financial markets work and how they are connected to the overall U.S. economy.”