Q&A Session with Gregory Peters
In the world of finance, few names resonate as much as Greg Peters. With a career spanning decades and various roles, Peters has made his mark in the fixed income market.
Peters' journey began after graduating from the College of New Jersey with a degree in finance. He started his career with the Office of Thrift Supervision (OTS), a U.S. Treasury agency that once oversaw and regulated the savings and loan industry. After the OTS was abolished by the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010, its regulatory responsibilities were merged into the Office of the Comptroller of the Currency (OCC).
Following his stint at the OTS, Peters moved on to Morgan Stanley during the global financial crisis. There, he worked alongside the legendary Marty Leibowitz, honing his skills in research. His tenure at Morgan Stanley saw him rise to the position of head of fixed income research and cross-asset strategy.
Peters' prowess in the field led him to PGIM Fixed Income, where he currently serves as co-chief investment officer, overseeing about $862bn in assets. His Total Return Bond Fund alone manages nearly $50bn, a testament to his success in the industry.
The fixed income market, however, is still going through an adjustment period. It is no longer in a zero-interest rate world, and the outlook for the Federal Reserve chairmanship is a concern. Investors are placing confidence in the structure of the Fed but worry about potential changes. The market is also facing more volatile macroeconomic data and the challenge of inflation. The fundamental picture seems OK, but investors have concerns about valuations, as spreads across credit look tight.
The advent of ETFs and its creation-redemption technology has made the fixed income market bigger, faster, and stronger. This technological advancement allows investors to move bonds and money around the ecosystem more easily.
Peters' career has not been all work and no play. After college, he spent a summer at Joey Harrison's Surf Club in Ortley Beach, New Jersey, bartending to pay for a trip through Europe. This unique experience gave him a glimpse into the lives of people whose investment success is tied to PGIM Fixed Income.
In recognition of his contributions to the industry, Greg Peters will be inducted into the Fixed Income Analysts Society's Hall of Fame this autumn. His journey serves as an inspiration to many in the field, a testament to his dedication and expertise in fixed income.
References:
- Office of Thrift Supervision
- History of the Office of Thrift Supervision
- Dodd-Frank Wall Street Reform and Consumer Protection Act
- The Evolution of the Office of Thrift Supervision
- Greg Peters, known for his significant impact in the fixed income market, is currently the co-chief investment officer at PGIM Fixed Income, managing over $862bn in assets.
- The fixed income market, where Peters excels, is currently undergoing an adjustment period, influenced by factors like changes in interest rates, inflation, and the Federal Reserve chairmanship.
- With the advent of ETFs and creation-redemption technology, the fixed income market has become larger, faster, and stronger, making it easier for investors to move bonds and money.
- Following his stint at the Office of Thrift Supervision (OTS), Peters worked at Morgan Stanley during the global financial crisis, where he honed his skills in research and rose to the position of head of fixed income research and cross-asset strategy.
- Away from the world of finance, Peters spent a summer after college bartending at Joey Harrison's Surf Club in Ortley Beach, New Jersey, which gave him a unique perspective on people whose investment success is tied to the same industry he now leads.
