Daleep Singh to Run U.S. Treasury's Financial Markets Office

  • He replaces Seth Carpenter, who left the department last week
  • Previously was deputy assistant secretary for Europe, Eurasia

Daleep Singh, who has worked in the U.S. Treasury’s international division and markets room, has been named to lead the department’s Office of Financial Markets, replacing Seth Carpenter.

Singh will be a counselor in the Office of Domestic Finance, Treasury Chief of Staff Chris Weideman said in a statement Friday. Singh, 39, has been at the Treasury for five years as director of the markets room and more recently as deputy assistant secretary for Europe and Eurasia.

Singh has helped Treasury Secretary Jacob J. Lew “manage many difficult and complex issues,” including Greece and Ukraine, Weideman said.

Senior officials at the White House and the Treasury often relied on Singh during tense moments in global markets, said Federal Reserve Governor Lael Brainard, who was the Treasury’s undersecretary for international affairs until November 2013.

“At the first sign of financial stress around the world, Daleep would be on the phone or in our offices alerting us to possible transmission channels, and he was an equally vital contributor to deliberations over the appropriate policy response,” Brainard said in an e-mail Friday.

Carpenter, who had been acting assistant secretary for financial markets, left the department Feb. 5. He was nominated to the assistant secretary position by President Barack Obama in 2014, though his appointment had not been confirmed by the Senate.

Reshuffling and vacancies in government agencies typically become more common as officials leave in the final months of an administration. Obama leaves office in January 2017.

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