Frances graduated from Magdalen, Oxford, in Biochemistry and immediately joined Savory Milln as a UK pharmaceuticals analyst. Following its takeover by Swiss Bank Corporation, she took up a role in pan-European pharmaceuticals coverage at IMI before moving to Nomura in 1994. At Nomura, she initially specialised in central European pharmaceuticals companies before shifting to a broader role covering the European generic drug sector.
Frances left Nomura in April 2009 and set up her own company, Pharmacloud. This offers consultancy services to the generic industry and also produces regular research on the generics sector, with a particular focus on those companies operating in Europe.
Frances is very well known as an analyst and expert on the European generics sector and has been involved in many of the M&A transactions that have taken place in the sector in recent years. She is also a frequent speaker at conferences. Frances is a CFA charterholder