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

European Parliament Elections—Who will Likely Prevail?

Clement K. Miller, CFA |
Wilmington Wire
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May 21, 2019 – On May 23-26, elections will be held across the 28-nation European Union (EU) for the 751-seat European Parliament (EP).  Campaigning has been vigorous in recent weeks, particularly by right-wing Eurosceptic nationalist candidates. Nevertheless, we expect pro-EU centrist candidates to prevail and that the outcome will be favorable for Europe’s long-term investment climate.

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Expect Stocks in China to Prosper in the Year of the Pig

Clement K. Miller, CFA |
Wilmington Wire
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February 8, 2019— This week, China enters the Year of the Pig, which in the Chinese calendar is supposed to bring prosperity and wealth. Therefore, it’s worth contemplating the prospect for share price increases for the stocks comprising the MSCI China Index.   One key measure of the attractiveness of Chinese stocks is the current discount of MSCI China Index to the aggregated analyst’s price target for the index.

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