A great grand nephew of first Indian American Congressman, Daleep Singh heads the Markets Group at New York Fed.
New York Federal Reserve’s Indian American markets chief Daleep Singh, who worked for six years at the Treasury Department during the Obama administration, is set to join President Joe Biden’s team as deputy national security adviser.
Additionally, he would also serve as deputy National Economic Council director, the NY Fed where Singh headed the Markets Group said in a Feb. 5 statement announcing his resignation.
Singh, who oversaw implementation of the New York Fed’s emergency facilities during the Covid-19 pandemic will be leaving the Bank in mid-February.
“Daleep brought his dedication to public service and leadership skills to the New York Fed and had a meaningful impact during his tenure,” said John C. Williams, president and chief executive officer of the New York Fed.
“Over the past year, Daleep has played a critical leadership role in the emergency facilities the Fed launched in response to Covid-19. I’m thrilled that he will continue to leverage his knowledge and expertise in support of economic policy at this important time.”
Singh’s appointment in his new role reflects a commitment to prioritizing US workers in foreign policy to serve as deputy national security adviser, Bloomberg said citing the White House.
Singh will report to both National Security Adviser Jake Sullivan and NEC Director Brian Deese.
READ: List of Indian Americans in the Biden administration (January 2, 2021)
“Daleep will be tasked with refocusing U.S. international economic policy on the needs of working Americans,” Sullivan told Bloomberg in an emailed statement.
Deese said he would be working with Singh on “complex, cross-cutting issues– including climate, tech, and trade – that require a true whole of government approach.”
Singh joined the New York Fed in February 2020. As Head of the Markets Group, he focused on bringing together policy, strategy, analysis and operational effectiveness. He also served as a member of the Executive Committee.
Previously, Singh was Senior Partner and Chief US Economist at SPX Capital, a global investment firm, from 2017 to 2019.
He also worked at the US Department of the Treasury from 2011 to 2017, serving as acting assistant secretary for Financial Markets and deputy assistant secretary for International Affairs.
Prior to his tenure at the Treasury Department, Singh worked for Goldman Sachs, with a focus on US 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.
Singh 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.
Singh holds a bachelor’s degree with Duke University in economics and public policy. He also holds a master of business administration/master of public administration from the Massachusetts Institute of Technology, and Harvard University, with a focus on international economics.
Born in Olney, Maryland and raised in Raleigh, North Carolina Singh is a great grand-nephew of Daleep Singh Saund, the first Indian American to serve in the US Congress from 1957 to 1963.