- The Indian American who left his position in May had become the public face of the administration’s sanctions against Moscow since the Russian invasion of Ukraine began in February.
Daleep Singh, President Biden’s Deputy National Security Advisor, has been named chief global economist and head of global macroeconomic research at PGIM Fixed Income. He joins one of the largest global fixed income managers, effective June 21.
It is unclear when Singh officially handed over his resignation to President Biden, but he left his position in May when he took an extended leave of absence from the White House. The Washington Post reported at the time that Singh’s leave is due to family reasons.
Earlier in March, his house in an upscale Northwest Washington neighborhood about five miles from the White House was the target of an “unlawful entry.” The D.C. police were investigating the incident, where a man was seen in the front yard of Singh’s property.
At PGIM Fixed Income, Singh will report to co-chief investment officer Gregory Peters, and “will be responsible for oversight of a team of senior economists with extensive experience in the public and private sectors,” the firm announced today (June 21). “As one of the world’s leading experts on economic policy matters, Daleep has provided extensive experience and insight at the highest levels of government,” Peters said. “Adding an expert of this caliber to our investment team is fundamental to helping our portfolio managers navigate the increasingly complex macroeconomic and geopolitical forces driving global financial markets.”
Singh was appointed as Biden’s Deputy National Security Advisor in February. But since the Russian invasion of Ukraine began, the Indian American quickly become the public face of the administration’s sanctions against Moscow. He was seen at the White House press briefings and his meetings and discussions with the president have been widely reported in the media. He is the great grand-nephew of Daleep Singh Saund, the first Asian-American elected to the U.S. Congress.
Singh made several media appearances to talk about sanctions since his first appearance at the White House press podium in February. On his second appearance on Feb. 22, he joined then press secretary Jen Psaki for the daily press briefing. “Back by popular demand,” Psaki said while introducing Singh. “If he decides he’s not going to be an economics expert anymore, he might have a future in our business.”He also became a key author of the White House’s rolling sanctions scheme, which was designed to serve as both a deterrent and now a punishment for Putin’s actions in Ukraine,” Politico noted in its West Wing Playbook.
He was also deputy assistant secretary of the Treasury for international affairs and acting Assistant Secretary of the Treasury for Financial Markets in the Obama administration.
Singh came to the White House from the New York Federal Reserve, where he played a critical leadership role in the emergency facilities the Fed launched in response to COVID-19.
Before his tenure at the Treasury Department, Singh worked for Goldman Sachs, with a focus on U.S. interest rates and currency markets, from 2003 to 2007, and again from 2008 to 2011. He was also a partner at Element Capital Management from 2007 to 2008. He is a former adjunct senior fellow at the Center for New American Security and the Atlantic Council. He was also an adjunct professor of geoeconomics at Johns Hopkins School of Advanced International Studies.
Born in Olney, Maryland and raised in Raleigh, North Carolina Singh holds a bachelor’s degree from Duke University in economics and public policy and a master of business administration/master of public administration from the Massachusetts Institute of Technology, and Harvard University, with a focus on international economics.