How Identity Has Influenced a Head of Emerging Market Sovereign Debt at Abrdn's Career
Edwin's Filipino American heritage provides unique insight into emerging markets, particularly the impact of historical legacies like Spanish colonialism on economic development; the resulting patterns of emigration and remittances, as Edwin notes, "keeping families' consumption levels," are crucial factors in understanding investment opportunities in countries such as the Philippines, India, and Kenya.
Emerging Markets, Sovereign Debt, International Finance, Economics, Remittances
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. Edwin's Filipino American background provides him with unique insights into the challenges faced by emerging market countries, particularly those with a history of Spanish colonialism, like the Philippines.
2. His understanding of the economic consequences of historical events, such as colonialism's impact on savings rates and investment, helps him in his role as Head of Emerging Market Sovereign Debt.
3. The phenomenon of remittances, where money is sent back home by immigrants, is highlighted as a crucial factor influencing the economies of many emerging markets. Edwin's personal experience gives him a deeper understanding of this complex issue.
Transcript
As a Filipino American, how has that impacted how you've navigated your career?
This has given me a decent understanding of some of the challenges in emerging market countries. For instance, referencing the Philippines again, I like to say it's a Latin American country that just happens to be in Asia.
We have the last names to prove it, and my own last name can attest to that. This is the historical context I spoke of, which is critical to understanding the countries in which we invest. The Philippines shares the same legacy of Spanish colonialism as Latin America.
This is what contributes to its poor savings rates. From economics 101, we know that savings equal investments. When there are no savings, there's no investment, and therefore, no economic growth.
This means not enough jobs are created in the Philippines and Latin America. That's why so many end up immigrating to America and other countries. While this is generally negative, it's also positive because a lot of that money gets sent back home to Latin America and the Philippines.
This is an experience unique to Spanish-influenced countries. It's similar to what happens in India, the country that receives the most remittances. This is also the experience of Kenya, Sri Lanka, and Pakistan.
So, there are many countries interconnected through remittances from citizens who have moved abroad and may or may not stay permanently. I think having that background helps me understand the context of some of these countries. Remittances are critical for keeping families' consumption levels up.