Bessent taps Jefferies strategist David Zervos as adviser

Investing.com -- Treasury Secretary Scott Bessent appointed David Zervos as a counselor in the Office of the Secretary, the Treasury Department said Monday.

Zervos joins the department after nearly two decades at Jefferies LLC, where he worked as chief market strategist and head of the global macro division for Leucadia Asset Management. The Treasury said Zervos brings 35 years of experience in global financial markets, central banking, and macroeconomic analysis.

Before his time at Jefferies, Zervos managed global macro portfolios at UBS O'Connor and Brevan Howard Asset Management in New York. He started his career in financial markets as a research associate at SBC Warburg and Greenwich NatWest Markets in London.

Zervos worked as an economist at the Board of Governors of the Federal Reserve System early in his career and returned to the Board as a visiting advisor during the 2009 financial crisis. His Treasury appointment marks the third time he has served in government.

Last year, reports indicated Zervos was among potential candidates to succeed Jerome Powell as Federal Reserve chair. President Donald Trump selected Kevin Warsh for that position.

Zervos holds a bachelor's degree in systems science and engineering from Washington University in St. Louis and a master's degree and doctorate in economics from the University of Rochester.

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