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

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

Markets Look for Momentum after a Volatile Q1

By David O'Malley | April 2, 2018

Equity markets had a volatile quarter, and their weakest in the last six, driven by concerns about rising interest rates, potential trade conflicts and valuation concerns. As I have written… Read More

Equity Markets Look to Rebound after a Tough Week

By David O'Malley | March 26, 2018

Global equities came under significant pressure last week as a result of fears about an escalating trade war. The S&P 500 had its worst week in several years and wiped… Read More

Fed Meeting Takes Center Stage

By David O'Malley | March 19, 2018

This week’s Federal Reserve (Fed) meeting, the first for new Chairman Jerome Powell, will be closely scrutinized. The market is pricing in very high odds of a 25 basis point… Read More

Treasury Auctions and Inflation Data

By David O'Malley | March 12, 2018

The bond markets could be on the receiving end of a negative one-two punch this week. The bond market is very vulnerable in the short term with all the recent… Read More

Strong U.S. Employment and the Potential Impact of Tariffs

By David O'Malley | March 5, 2018

Markets will experience a tug of war between the impacts of threatened tariffs and strong employment data in the week ahead. The potential for a trade war as a result… Read More

Longer Term View on U.S. Interest Rates

By David O'Malley | February 26, 2018

Given my bearish near-term view on U.S. Treasury bonds, I have recently been asked several times, where do interest rates go over the longer term? Over the next several years,… Read More

Fed Minutes, Warren Buffett’s Annual Letter Top the Week’s News

By David O'Malley | February 20, 2018

After a few volatile weeks for the markets, I expect a return to a more normal rhythm over the weeks ahead. The factors impacting both stocks and bonds are firmly in… Read More

What Lies Ahead After a Volatile Week for Stocks

By David O'Malley | February 12, 2018

Several technical factors caused significant volatility in the equity markets last week. In addition to an unwinding of low volatility positions, the equity market struggled with the implication of higher… Read More