NEW YORK—The Federal Reserve Bank of New York today announced that Daleep Singh has stepped down from his role as Head of the Markets Group and will be leaving the Bank in mid-February to join the Biden Administration as Deputy National Security Advisor and Deputy National Economic Council Director. Anne Baum, Head of Central Bank and International Account Services, will serve as interim Head of the Markets Group and the New York Fed will launch a search for his successor in the coming weeks.
“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.”
Mr. 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, Mr. Singh was Senior Partner and Chief U.S. Economist at SPX Capital, a global investment firm. He also worked at the U.S. Department of the Treasury from 2011 to 2017, serving as Acting Assistant Secretary for Financial Markets and Deputy Assistant Secretary for International Affairs.