Citi Announces Appointment of New Global Chief Economist
Citi has announced the return of Nathan Sheets, PhD, as its new Global Chief Economist, effective October 2021. Sheets previously served as Chief Economist at PGIM Fixed Income and held key roles at the US Treasury and the Federal Reserve Board. His extensive experience includes advising during the European fiscal crisis and overseeing global macroeconomic research. Citi's leadership expresses confidence that Sheets' deep insights will significantly enhance the firm's global economics team and benefit their client franchise.
- Nathan Sheets brings extensive experience in global macroeconomics.
- His leadership is expected to enhance Citi's economics team and client services.
- Concerns may arise regarding continuity in leadership given Sheets' prior absence.
- There may be perceived gaps in experience as he adapts back to Citi's culture.
Today Citi announced that Nathan Sheets, PhD will be returning to the firm as its new Global Chief Economist, based in New York, overseeing the global Economics team and leading research across all areas of economics.
Sheets re-joins Citi from PGIM Fixed Income, where he was Chief Economist and Head of Global Macroeconomics Research for the past four years. Prior to PGIM Fixed Income, Sheets served as Undersecretary of the US Treasury for International Affairs under President Barack Obama. He was last with Citi from 2011 to 2014 as Global Head of International Economics.
“It’s great to be back at Citi and I look forward to once again tapping into the firm’s unmatched global footprint, expansive expertise, and broad network of clients,” said Nathan Sheets. “I am honored by the opportunity to lead Citi’s talented economics team and contribute to a history of world-class thought leadership.”
Prior to his first posting at Citi, Sheets was with the Federal Reserve Board in Washington, D.C. for 18 years. During his tenure, he served in a variety of roles, including Director of the Division of International Finance and as an Economist to the FOMC. Among his most notable accomplishments, Sheets acted as the Fed Chairman’s international adviser at the onset of the European fiscal crisis in the spring of 2010. He was also a key force behind the Federal Reserve Board’s global emergency lending program during the global financial crisis. While on leave from the Fed, he worked at the International Monetary Fund as senior advisor to the U.S. Executive Director from 2006 to 2007.
“We are thrilled to have Nathan back at Citi. His wealth of experience, and deep insight on global macroeconomics will be a significant value-add to our client franchise,” said Rob Rowe, Global Strategy and Macro Head at Citi.
Sheets earned a bachelor’s degree in economics from Brigham Young University and a Ph.D. from the Massachusetts Institute of Technology. He will officially begin in the role as Global Chief Economist in October 2021.
About Citi:
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management. Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi.
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