David O'Malley

Chairman & Chief Executive Officer
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David O'Malley

As Chairman & Chief Executive Officer of Penn Mutual Asset Management, Mr. O’Malley is responsible for leading the overall strategic direction of the firm and refining the overall investment philosophy. He also serves as President of the Penn Series Funds, Inc., a proprietary fund complex offering 29 investment options through The Penn Mutual Life Insurance Company variable life and annuity products.

Mr. O’Malley’s extensive knowledge in the investment field enabled him to build a highly successful career. His positions of increasing responsibility and complexity included Municipal Bond Research Analyst, Residential and Commercial Mortgage Backed Portfolio Manager, Corporate Bond Portfolio Manager, and Vice President and head of Fixed Income responsible for all portfolio sectors. Mr. O’Malley’s expertise in derivatives and asset-liability management has been instrumental in designing the company’s hedging and risk management programs.

In 2006, Mr. O’Malley was appointed Chief Risk Officer and became a member of Penn Mutual’s executive team. He was later appointed Chief Financial Officer, and now currently serves as President and Chief Operating Officer of Penn Mutual.

Mr. O’Malley serves on the Board of Managers of the full service brokerage firm Janney Montgomery Scott LLC.

Mr. O’Malley joined Penn Mutual’s Investment Department as an intern in 1994 while attending Drexel University in Philadelphia, Pennsylvania. He graduated summa cum laude with a bachelor’s degree in finance and economics.

Stories by David O'Malley

Stocks Grind Higher as Bonds Await the Fed

By David O'Malley | June 11, 2018

This week is set up to have a significant number of market moving events for stocks and bonds. Just as U.S. equities hit their highest levels since early this year,… Read More

Strong Employment, but Trade Concerns Rise

By David O'Malley | June 4, 2018

Last week’s report on employment conditions showed strong continued gains in hiring, with 223,000 new jobs added during the past month. The unemployment rate fell to a new cyclical low… Read More

Oil Prices and Treasury Yields Fall

By David O'Malley | May 29, 2018

Last week saw a reversal in two market trends that have been occurring for the past several months: increasing oil prices and treasury yields. Oil prices dropped almost 10%, from… Read More

Is the Secular Bull Market Over for Bonds?

By David O'Malley | May 21, 2018

Opinions on the bond market continue to grow louder as several market prognosticators claim that the multi-decade bull market for bonds is over due to some key technical indications being… Read More

Geopolitical Risk Will Take Center Stage

By David O'Malley | May 14, 2018

Equities seemed to find their footing last week, helped by some of the big cap technology stocks. Meanwhile, bonds got some favorable news on the inflation front and were able… Read More

Inflation Expectations and Interest Rates

By David O'Malley | May 7, 2018

As expected last week, the Federal Reserve held interest rates unchanged, but did revise its post-meeting statement to reinforce that inflation has moved closer to its 2% target. This change… Read More

10-Year Treasury Rates Increase to 3%

By David O'Malley | April 30, 2018

Last week the 10-year Treasury rate pierced the 3% level before falling back to 2.96% by the end of the week. This marks the first time the 10-year Treasury has… Read More

Bond Yields Push Higher

By David O'Malley | April 23, 2018

Last week saw bond yields push higher. The 10-year U.S. Treasury ended the week at 2.96%, a new high yield for the year. I expect yields to continue to push… Read More

Stay Focused on the Fundamentals

By David O'Malley | April 16, 2018

The last few weeks, a significant amount of headline news distracted market participants’ attention from the fundamentals. Whether it is the tumult in Washington, the geopolitical tensions in the Middle… Read More

News Headlines Create Market Volatility

By David O'Malley | April 9, 2018

Markets were volatile last week as trade tensions and geopolitical risks kept the markets’ attention. Last week’s employment data was a bit weaker than I expected, with smaller job gains… Read More