BNY Mellon names government adviser as chief economist

Shamik Dhar joins from the Foreign and Commonwealth Office


BNY Mellon Investment Management has appointed government Brexit adviser, Shamik Dhar, as the firm’s first chief economist.

Dhar joins from the UK government’s Foreign and Commonwealth Office (FCO), where he has been chief economist since September 2014. He has over 30 years’ experience advising governments and institutions.

As chief economist at the FCO, he led a team of 16 macro-economists and advised ministers, senior officials and ambassadors on the economy and implications of foreign policy, including Brexit.

He began his career as an economic assistant at HM Treasury and has since held senior positions at Aviva Investors, a number of economic and financial consultancies and the Bank of England, where he co-authored research papers on monetary policy and investing.

Dhar (pictured) said: “The ability to take into account a changing global economy and market environment has never been more important as investors increasingly seek specialised investment advice and strategies for their specific goals.

“As one of the world’s leading investment managers, the opportunity to help BNY Mellon IM’s clients decipher the economic landscape is extremely exciting.”

In this newly created role, Dhar will be responsible for conducting proprietary research and analysis, in order to develop economic commentary. He will act as the primary spokesperson for BNY Mellon IM on matters relating to global macroeconomics, geopolitics and capital markets.

Mitchell Harris, chief executive officer at BNY Mellon Investment Management, said: “As we transition to a post-quantitative easing and de-accumulation world, investors find themselves navigating unchartered economic territory.

“As a result, the ability to arm investors with insightful guidance on the economic environment is vital. Shamik’s deep experience will provide our clients with invaluable macroeconomic and investment perspective, helping to strengthen our investor experience.”

Dhar will take on the role from 1 October 2018.

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