PGIM Fixed Income added Daleep Singh, a former U.S. deputy national security advisor for international economics and deputy director of the National Economic Council, to its executive team.
The Newark-based fixed income manager named Singh as chief global economist and head of global macroeconomic research, effective immediately, according to a June 21 statement. He will report to PGIM Fixed Income co-Chief Investment Officer Gregory Peters, and be responsible for the company’s Global Macroeconomic Research senior economist team.
Singh most recently served as President Joe Biden’s top international economics advisor, where he was responsible for, among other tasks, the development of fiscal and tax policy; shaping the U.S.-China economic strategy; 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, according to the PGIM statement.
Singh also previously served as executive vice president and head of the markets group at the New York Fed, where he led a team of nearly 600. From 2011 to 2017, he worked at the U.S. Department of the Treasury as acting assistant secretary for financial markets and deputy assistant secretary for Europe and Eurasia. He also worked for Goldman Sachs, with a focus on U.S. interest rates and currency markets.
In a statement, Peters called Singh “one of the world’s leading experts on economic policy matters.”
“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 added.
In his new role, Singh will lead PGIM Fixed Income’s global macroeconomic outlook. He and his team will support the company’s views on developed and emerging countries, supporting alpha generation in global interest rate, currency, sovereign and credit markets, the company said.
With $890 billion in assets under management, PGIM Fixed Income is one of the largest fixed income managers in the world. PGIM is the global asset management business of Prudential Financial Inc.