Daleep Singh joins PGIM Fixed Income as chief global economist

Indian American economist served as US deputy national security advisor for international economics for 16 months

After serving as US deputy national security advisor for international economics and deputy director of the National Economic Council for 16 months, Indian American Daleep Singh has joined PGIM Fixed Income, one of the largest global fixed income managers.

A great grand-nephew of Daleep Singh Saund, the first Indian American to serve in the US Congress from 1957 to 1963, he will serve as chief global economist and head of global macroeconomic research at PGIM Fixed Income with $890 billion in assets under management.

Read: Indian American Daleep Singh leads US sanctions against Russia (February 23, 2022)

Singh will report to Gregory Peters, co-chief investment officer for PGIM Fixed Income, and will be responsible for oversight of PGIM Fixed Income’s Global Macroeconomic Research team, which includes senior economists with extensive experience in the public and private sectors, the company announced on 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. 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,” Peters said.

“His expertise will be instrumental in continuing to provide leading economic and sovereign research, as well as thought leadership. We look forward to the impact he’ll have on our organization and the investment outcomes for our clients.”

At the White House where he started working in February 2021, Singh served as President Joe Biden’s top international economics advisor, driving policy formulation at the intersection of economics and national security.

His work has included the development of fiscal and tax policy; shaping the US economic strategy with China; leading efforts to promote supply chain resilience; promoting the development of a digital asset strategy; and building an economic governance toolkit that includes tariffs, sanctions, export controls, energy security, debt relief, bilateral assistance, and infrastructure finance.

Read: Biden’s key Indian American aide warns India of “consequences” of bypassing sanctions (March 31, 2022)

Singh also served as the president’s representative at the G7, G20, and APEC.

Prior to joining the Biden administration, Singh was executive vice president and head of the markets group at the New York Fed where he led a team of nearly 600 employees overseeing the group’s full portfolio during the most intense phase of the pandemic.

From 2011 to 2017, he worked at the US Department of the Treasury as acting assistant secretary for financial markets and deputy assistant secretary for Europe and Eurasia.

Preceding his tenure at the Treasury Department, Singh worked for Goldman Sachs, with a focus on US interest rates and currency markets.

In his new role, Singh will lead the formulation of PGIM Fixed Income’s global macroeconomic outlook, integral to PGIM Fixed Income’s global investment strategy, the company said.

He and his team will also support PGIM Fixed Income’s fundamental views on developed and emerging countries, supporting alpha generation in global interest rate, currency, sovereign and credit markets.

In addition, he will be a member of the senior investment team and will provide thought leadership on global monetary and fiscal policy and macroeconomic trends.

Read: PGIM Fixed Income names Daleep Singh, former deputy national security advisor, as chief global economist (June 21, 2022)

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.

Born in Olney, Maryland and raised in Raleigh, North Carolina 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.

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