Kelleher attributed Trump's surprise election win to the same voter sentiment that drove Britain's unexpected vote to exit the European Union.
"I think the Trump presidency is just another example of populist outrage at the establishment," he said, adding that the same political phenomenon was being seen elsewhere, citing upcoming elections in Germany, France and Austria.
Far-right parties espousing anti-immigration rhetoric have been making headway across Europe in recent months. This was most notable when the far-right Alternative for Germany party defeated German Chancellor Angela Merkel's Christian Democrats in regional elections in the state of Mecklenburg-Western Pomerania in September. In France, the right-wing politician Marine Le Pen is expected to be one of the final two candidates in the first round of the country's presidential elections.
"People are voting on sentiment rather than the issues themselves at the moment," Kelleher added.
Meanwhile, Kelleher was confident that markets had largely got the "reflationary" post-Trump trade right, despite scant details on the President-elect's policy proposals.
"I think (infrastructure spend) will be significant. ... [With] the House and the Senate both Republican, probably he will get a lift in the debt ceiling to allow him to do that," Kelleher said, adding that Democratic presidential nominee Hillary Clinton had proposed a similar infrastructure policy to Trump's, and that there was a broad consensus of approval for such a move.
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