Pekko Shang-Hsin Yeh
New Taipei
Summary
Seasoned financial markets professional with 15 years of comprehensive expertise, including over 12 years in buy-side investment at a leading Taiwanese life insurance company. Skilled in managing fixed income portfolios exceeding USD 100 billion, specializing in investment-grade corporate bonds, emerging market bonds, and U.S. Treasuries. Demonstrated success in leading and developing high-performing investment teams, consistently meeting financial budgets while building in-house capabilities by training fresh graduates into skilled portfolio managers. Adept at developing macro investment strategies, underpinned by a deep understanding of Federal Reserve monetary policies and U.S. macroeconomics.
Overview
15
15
years of professional experience
Work History
Head of Fixed Income
Nan Shan Life Insurance
03.2020 - 02.2024
- Led investments in US Treasuries, MBS, emerging market bonds, investment-grade corporate bonds, and Taiwan bonds with portfolio size USD 140 billion and team of 25 professionals
- Achieved average annual return of 4.76% on overseas bonds from 2020 to 2023, outperforming key competitors 4.45% (Cathay Life, Fubon Life and Shin Kong Life)
- Delivered impressive average return of 5.62% on overseas bonds from 2020 to 2021, outperforming peers’ 5.1%, including notable 10.3% return on US Treasuries which generates nearly USD 1.6 billion in capital gains
- Maintained overseas bond returns at 3.9% in 2022-2023, outperforming peers’ 3.8%, outperforming peers’ 3.8%, despite Fed's most aggressive tightening in four decades and significant capital outflows from Taiwanese life insurers
- Expanded team capability by successfully training 15 fresh graduates into professional researchers and portfolio managers
Head of Interest Rate Division
Nan Shan Life Insurance
11.2016 - 03.2020
- Responsible for investments in US Treasuries, MBS, emerging market bonds and Taiwan government bonds
- Managed USD 56 billon portfolios with average annual return of 5.11% on overseas bonds from 2016 to 2019, including a 7.14% return on US Treasuries, outperforming the average yield of 2.77% on 30-year US Treasuries and 3.78% on investment-grade emerging government bonds during the same period
- Successfully anticipated the rise in interest rates following Trump's win in the 2016 presidential election and accurately predicted the Fed’s pause on rate hikes in Q4 2018
- Conducted comprehensive weekly macro market analyses, delivering actionable insights to executive management
- Enhanced the team's research capability in the macro market by broadening colleagues' knowledge of US Federal Reserve.
Portfolio Manager at Interest Rate Division
Nan Shan Life Insurance
09.2011 - 11.2016
- Responsible for investments of US Treasuries and MBS
- Managed USD 1 billion in assets with a return of 15%, significantly higher than the average yield of 3.03% on 30-year US Treasuries during the same period
- Developed multiple market models which successfully identified major interest rate trends, providing the foundation for strong performance in managing US Treasuries and MBS
- Trained several US macroeconomic researchers and US Treasuries managers.
Portfolio Manager at Foreign Fixed Income
Taiwan Life Insurance
08.2010 - 09.2011
- Managed MBS, CMO and interest rate-linked structured bonds
- Developed Nth to default credit model for evaluating credit-linked structured bonds and Hull-White trinomial interest rate tree model for evaluating zero/fixed rate callable notes and interest rate-linked structured bonds.
Research Analyst at Fixed Income
KGI Securities
09.2008 - 07.2010
- Studied post-financial crisis economic trends and economic impact of European debt crisis
- Prepared regular macro market reports for department heads
- Maintained and developed CDS and related credit derivative pricing models.
Education
Master of Money And Banking -
National Chengchi University (NCCU)
Taipei06.2007
Bachelor of Civil Engineering -
National Taiwan University (NTU)
Taipei06.2005
Skills
- Extensive Experience
- Fixed income
- Team Leadership
- Large-scale Portfolio Management
- Macro Investment Strategies
Timeline
Head of Fixed Income
Nan Shan Life Insurance
03.2020 - 02.2024
Head of Interest Rate Division
Nan Shan Life Insurance
11.2016 - 03.2020
Portfolio Manager at Interest Rate Division
Nan Shan Life Insurance
09.2011 - 11.2016
Portfolio Manager at Foreign Fixed Income
Taiwan Life Insurance
08.2010 - 09.2011
Research Analyst at Fixed Income
KGI Securities
09.2008 - 07.2010
Master of Money And Banking -
National Chengchi University (NCCU)
Bachelor of Civil Engineering -
National Taiwan University (NTU)
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