College Experiences That Helped a Head of Emerging Market Sovereign Debt at Abrdn Succeed
Edwin's political economy major provided a crucial foundation for a career in emerging market sovereign debt, exemplified by his undergraduate exploration of the "Lost Decade" in Latin America and its global economic ramifications. This deep understanding of historical context, as seen in his analysis of the Philippines' unique political and economic structure, proves invaluable in navigating the complexities of international finance.
Political Science, Economics, History, International Relations, Emerging Markets
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Edwin Gutierrez
Head of Emerging Market Sovereign Debt
Abrdn
UC Berkeley
MS Foreign Service, Georgetown University
Political Science, American Studies
Finance (Banking, Fintech, Investing)
Finance
Honors Student
Video Highlights
1. Major in political economy to understand global interconnectedness.
2. Study history and political science to understand the political and economic structures of countries.
3. Understand the historical context of specific countries to better analyze their current economic situations and challenges, as illustrated by the example of the Philippines' history impacting its current economic challenges.
Transcript
What did you do in undergrad to set you up for success in your career?
Quite frankly, it was my major. I absolutely loved my political economy major; it just showed me how interconnected the world was. I remember taking a particular class my freshman year and learning about the so-called Lost Decade, the 1980s and Latin America, where Latin America basically didn't grow at all.
This is a time when Middle Eastern countries took the money they made from oil and invested it in US banks. The US banks then lent that money to Latin American countries with floating interest rates. When the Fed started hiking rates in the eighties, the debt service costs for Latin America became punitive, and they all ended up defaulting.
So, it just really blew me away, learning how interconnected all these different economies were, from the Middle East to the US to Latin America. I think that's just one example, but in general, my training in political science, economics, and history served me well. It provided the historical context of countries and helped me understand how their political economies are structured and what is possible.
I think about, for example, the Philippines, where my parents come from. It's critical to understand the historical context of the Philippines. It's a part of Spanish feudalism where wealth is concentrated in the hands of a handful of wealthy families.
There has been no land reform, so wealth was never redistributed in the Philippines. As a result, to this day, a bunch of wealthy families run the country, and they don't like to pay taxes. There simply is a lot of money to pay for infrastructure, healthcare, and education.
As a result, the economy doesn't create enough jobs for the citizens. That's why so many Filipinos have moved abroad, including my parents. So, I think understanding where these countries are coming from is really important.