About the Author

Clement K. Miller, CFA

Administrative Vice President and Senior Portfolio Manager

As senior portfolio manager of the Wilmington International Fund, Clem develops and maintains close working relationships with a network of investment managers located in Europe, Japan, and Asia ex-Japan. He is a voting member of the firm’s investment committee and a non-voting member of its portfolio management committee. He is a frequent contributor to the firm’s Wilmington Wire publications.

Prior to joining investment management, Clement was a senior relationship manager with M&T Bank’s international trade division. He led a team of four relationship managers who financed transactions supporting foreign buyers’ purchases of U.S. exports, often from firms in M&T Bank’s business regions. He received the President’s Council Award for his sales accomplishments. Before joining M&T, Clem served in a variety of positions with the Export-Import Bank of the United States. As a relationship manager, he shepherded U.S. firms’ export finance transactions through the bank’s credit approval process. He served on the bank’s credit committee, which approved all loans under $10 million and managed the bank’s workouts division, working within creditor groups to renegotiate the debts of foreign and U.S. borrowers. He participated as the bank’s representative on a U.S. government delegation to inter-governmental trade financing negotiations organized by the OECD in Paris. Clem also served as a country risk economist, advising the bank’s board on country eligibility and sovereign loan pricing decisions and participating in inter-agency working groups. Earlier in his career, he served as an international economist with business consulting firm WEFA, providing economic advice to a range of business clients.

Clem holds an MBA in finance and international business from George Washington University and a bachelor’s degree in international economics from the School of Foreign Service at Georgetown University. He is a CFA® charterholder and served five terms on the board of the 600-member Baltimore CFA Society, including two as its elected president. Currently, he is serving as the M&T appointed board member of the Maryland Chamber of Commerce.


By the Author

NAFTA Renegotiation: Our Expectations

Clement K. Miller, CFA |
Wilmington Wire

November 22, 2016—Following up on our post from last week, The Transition Begins, as we continue to explore how the new administration will impact the economy and financial markets, we turn to a highly publicized topic, the North American Free Trade Agreement (NAFTA). As a candidate, Donald Trump frequently cited NAFTA as a “disaster” that had hollowed out U.S. manufacturing, particularly in Pennsylvania, Ohio, Michigan, and Wisconsin.

Read More...


Italian Referendum: Tempest in a Teapot

Clement K. Miller, CFA |
Wilmington Wire

October 24, 2016–Given the market volatility that followed the unexpected “leave” outcome in the U.K.’s Brexit referendum, it is understandable that global investors would be concerned about any European referendum. Hence, a great deal of global investor attention has turned to an Italian referendum scheduled for December 4.The question on the ballot is whether to strip legislative powers from Italy’s regionally elected Senate.

Read More...