I serve as Co-President and Chief Investment Officer at Smith Affiliated Capital, where I oversee
the firm’s fixed income strategies, portfolio construction, and overall investment discipline.
Since joining SAC in 2002, I have played a central role in shaping and executing the firm’s
investment approach. I became a member of the Investment Committee in 2003 and, in 2015,
became a principal and assumed a broader leadership role as Co-President, working closely with
the firm’s executive leadership on long-term strategy and portfolio oversight.

My approach to investing is grounded in analytical discipline and a long-standing interest in
mathematics and problem-solving. Those foundations continue to shape how I evaluate credit,
relative value, and portfolio structure across fixed income markets. I believe successful investing
requires consistency, rigorous analysis, and the ability to remain measured through changing
market environments.

I began my academic and professional career in Guangdong Province, China, where I earned a
Bachelor of Arts in English Literature from Guangzhou University. I started my career at
Industrial and Commercial Bank of China as a credit analyst and interpreter for senior
leadership, an experience that strengthened both my analytical and communication skills early in
my career.

In 1995, I moved to the United States to pursue a Master of Arts in Economics from City College
of New York. Prior to joining Smith Affiliated Capital, I worked at Ryan Labs, Inc., focusing on
liability analysis and the development of customized fixed income benchmarks for institutional
clients.

I am a CFA Charterholder and a member of the CFA Institute, the New York Society of Security
Analysts, and the The Chinese Finance Association. I am also an active member of the Rutgers
Community Christian Church. Fluent in both Mandarin and Cantonese, I value the ability to
connect with clients and perspectives across an increasingly global market.

Outside of work, I enjoy spending time with family and remain grateful to be the father of two
college graduates, an experience that continues to shape my perspective on long-term
responsibility and planning.

I am a member of the CFA Institute and an active member of the Rutgers Community Christian
Church. I am also fluent in both Mandarin and Cantonese, which allows me to engage with a
broad range of clients and perspectives in an increasingly global market. Outside of work, I
enjoy spending time with family and remain grateful to be the father of two college graduates, an
experience that continues to shape my perspective on long-term responsibility and planning.