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Partner & Chief Investment Officer
Park Avenue
Executive Committee
Ben is the Chief Investment Officer and a Partner in the New York office. He leads the firm’s Investment Committee and is a member of the Executive Committee. He has more than thirty-five years of experience in investment management. Ben has been featured in the Wall Street Journal and Reuters, and is a frequent commentator on Bloomberg TV and radio, Fox TV and CNBC, appearing regularly on network programs such as Power Lunch, The Closing Bell, Squawk Box, and Worldwide Exchange.
Prior to joining Cerity Partners, Ben was Chief Investment Officer and Head of Global Investment Solutions for Deutsche Bank Private Wealth Management in the U.S. In his role as CIO, he sat on the PWM Global Investment Committee, providing input on the U.S. economy and capital markets. He oversaw the investment strategy and asset allocation for PWM clients in the U.S. As Head of Global Investment Solutions, he brought together PWM’s capital markets and investment capabilities in an effort to provide an effective and consistent experience for clients. Prior to joining Deutsche Bank in 1994, he managed equity income funds for two investment organizations. During his tenure with those institutions, he also served as a securities analyst with a particular emphasis on the financial services and healthcare industries.
Ben Pace
Economic & Market Update
Despite increased market volatility, the trend in U.S. equity markets remains positive due to continued strength in the economy, a moderating inflation rate and a Fed close to ending its tight monetary policy.
The U.S. economy is performing well in the third quarter with some potential slowdown due to higher rates. Central banks are nearing the end of their tightening cycles, and global equity markets seem fairly valued, with growth dependent on earnings. The main risk is excessive central bank tightening, which could possibly cause a recession. Read more in our September Outlook.
The U.S. economy is showing surprising strength despite aggressive central bank monetary tightening, pushing recession forecasts further out. Despite slowdowns in some sectors, consumer strength continues to drive positive GDP growth. Challenges persist in Europe and China, while the U.S., Japan, and emerging economies are maintaining economic growth. In terms of fixed-income securities, we remain cautious in this environment.
Upcoming Webinar
Chief Equity Strategist Jim Lebenthal discusses the state of the economy and what he believes the markets will be looking forward to over the coming weeks.
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