BNY Mellon Investment Management has hired Shamik Dhar for the newly-created role of chief economist, responsible for conducting proprietary research and analysis, in order to develop economic commentary.
Dhar (pictured), who will join on 1 October from his role as chief economist in the UK's Foreign and Commonwealth Office, will act as the firm's primary spokesperson on global macroeconomics, geopolitics and capital markets.
CEO of BNY Mellon IM Mitchell Harris explained it is "vital" to "arm investors with insightful guidance on the economic environment", as the economy transitions to "a post-quantitative easing and de-accumulation world".
"Investors find themselves navigating unchartered economic territory," he said.
"Shamik's deep experience will provide our clients with invaluable macroeconomic and investment perspective, helping to strengthen our investor experience."
In his most recent public sector role, which he held from September 2014, Dhar led a team of 16 macro economists and advised ministers, senior officials and ambassadors on the economic landscape 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 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."
Purchased for undisclosed sum
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