BNY Mellon Investment Management has appointed Shamik Dhar as chief economist.
In the 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.
Dhar joins BNY Mellon IM from the UK government's Foreign and Commonwealth Office, where he was chief economist since September 2014. In this role, he 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, the UK government's economic and finance ministry, and has since held senior positions at the Bank of England, Aviva Investors and a number of economic and financial consultancies. He has co-authored research papers on monetary policy and investing, including three Bank of England Working Papers.
Dhar says: "The ability to take into account a changing global economy and market environment has never been more important as investors increasingly seek specialized 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."
Mitchell Harris, chief executive officer at BNY Mellon Investment Management, says: "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."