A public policy degree is so relevant and important right now because it not only trains us in problem-solving skills, but equally importantly, it equips us with systematic thinking about problems of the day."
Before coming to the Ford School, Yaomin Wen (MPP ‘07) conducted consumer credit reviews and basic risk management at a bank in the UK. His interest in finance and society was piqued while helping community members going through mortgage delinquency during a volunteer experience. While at the Ford School, Wen studied the relationship between investment flows, tariff policies, and financial subsidies during his internship with the United Nations Economic and Social Commission Asia Pacific (UNESCAP) Trade and Finance Division in Bangkok, Thailand. Today, Wen is the director, Investment Banking Asia Pacific at HSBC in Hong Kong.
Over the span of your career, what core values have guided your work?
In all the projects I have worked on, nothing was ever done without having to interact with multiple stakeholders–government agencies, stock exchanges, market regulators, corporate clients, accountants, lawyers, and many others. I quickly learned that—despite the importance of working independently—the ability to coordinate diverse interests and navigate a new (sometimes fragile) coalition is critical to professional success.
I try to always:
- listen to all parties' concerns, engaging early with regular dialogue,
- take accountability for my own mistakes, and
- share credit when in success.
Additionally, no decision in the real-world ever makes all people happy, so it is important to explore measures post-decision that can mitigate such imbalances to the practical extent.
What does "impact" mean to you, and how do you personally define success in your career?
In the context of my everyday tasks, "impact' means being able to achieve a meaningful breakthrough that matters to people. There is never a universal definition for success. One of the ways I personally define success in my career is when clients contact me—instead of the opposite way—to describe a new thought, discuss a problem, and ask for my opinion about the pros and cons of options. This means people consider me a trusted advisor, which is crucial for someone whose job is to help find solutions.
Why do you think a public policy degree is so relevant or important right now?
Our world today is in unchartered territory for multiple reasons—efforts by nations to become more independent in a very inter-dependent world, innovative disruptions brought by unprecedented technology advancements, extensive changes in the way policies are made, and high volatility across market sectors, etc. A public policy degree is so relevant and important right now because it not only trains us in problem-solving skills, but equally importantly, it equips us with systematic thinking about problems of the day. The ability to find comprehensive solutions in a seemingly chaotic world is priceless—it is transferable and can bring significant benefit to all types of careers
How did your public policy degree prepare you for work in global corporate finance?
To the disbelief of some friends and family, my public policy degree has prepared me extremely well for my banking career since day one, when my first interviewer grilled applicants on how central banks control money supply through open-market operations. In corporate finance, I now begin every working morning by studying the latest economic and policy developments. For example, Fed interest rate decisions will move bond markets worldwide, the University of Michigan Consumer Sentiment Index can affect equity prices as far as Hong Kong, a new tariff policy may force a client to revise production schedules accordingly, while volatile international relations could make or break a long-proposed merger.
What lessons or skills from the Ford School that you still use today?
I still use many of the quantitative and qualitative skills I learned from the Ford School in my career today, including when I: present macroeconomic trends to clients; discuss the potential social impacts and risks of a deal; calculate the statistical relationship between two financial metrics; and write concise memos to regulators and investors.
If you could share one piece of advice with your younger self—or with current Ford School students hoping to make a difference—what would it be?
Before the start of our career (or even well into it), there could be moments when we cast a little doubt over the value of our education, the path we took, or even the purpose of things in general. This will be especially true when we have to repeat mundane tasks that are under-appreciated, when we land a position below expectation or fall behind for a promotion, or when we mess up things on a wider scale. Over time, I have experienced all of these at some point, and I continue to navigate the highs and lows at work to this day.
I've learned there is no point in comparing ourselves to others. Focus on comparing ourselves today with yesterday. If I have learned a new skill, helped someone in need, or improved on something over time, then this intrinsic success truly belongs to me and is worth real celebration.
As for the rest, I love returning to a cliché proverb saved on my phone: "There's no comparison between the sun and the moon. They shine when it's their time".
Do you have a favorite memory from your time at the Ford School?
I have too many favorite memories from the Ford School, so I will attempt a laundry list that's far from complete: Holiday skits in the Great Hall, view from library windows towards the Big House, late-Dean Becky Blank who made every new student feel welcome, late-Professor Ned Gramlich who brought bagels to 8:30 am classes (he felt sorry for us), Habitat for Humanity house building in Detroit with classmates, movie nights at the library, keg parties at the M.E.S.S. House, guest lectures, free food, serving as co-GSI for course PubPol 201 taught by professors "Boss" Paul Courant, John Chamberlin, Jack Bernard, Deborah Ball and others, pressure from Professor Ann Lin to build strong arguments in memos while always minimizing word count, listening to Professor Kathryn Dominguez describe monetary policy and financial markets, watching Professor Carl Simon explain complex calculus in simple fashion, the Career Services, the Writing Center, Student and Academic Services, Facilities and IT, Alumni Relations, Communications and Public Affairs, and all the wonderful faculty, staff and fellow students – you made the Ford School and Michigan such a lovely and precious part of my life.
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