Archive · 28 Sep 2026
David Zervos Joins Treasury as Counselor to Scott Bessent
David Zervos is an economist who has worked on Wall Street for many years.
He has been hired to advise U.S. Treasury Secretary Scott Bessent.
Zervos is expected to start right away.
He has worked at Jefferies since 2010.
He also worked at the Federal Reserve earlier in his career and again after the 2008 financial crisis.
He studied economics and earned a PhD from the University of Rochester.
His new job comes as several Treasury officials have left their positions.
Zervos has said he is excited to return to government work and has praised Bessent’s handling of difficult economic periods.
Veteran Wall Street economist David Zervos has been hired as a counselor to Treasury Secretary Scott Bessent.
Zervos is expected to serve in a board advisory capacity and begin immediately.
He has worked at Jefferies since 2010 as chief market strategist.
Zervos previously served twice with the Federal Reserve and holds a PhD in economics from the University of Rochester.
His appointment comes after several Treasury staff departures, while President Donald Trump had previously considered him for Federal Reserve leadership.
- Who
- David Zervos, a veteran Wall Street economist, has been hired by U.S. Treasury Secretary Scott Bessent.
- What
- Zervos will serve as a counselor in a board advisory capacity at the Treasury Department.
- When
- He is expected to begin immediately; an exact start date was not provided.
- Where
- The appointment is with the U.S. Treasury Department in Washington, D.C.
- Why
- Bessent is expected to draw on Zervos’s experience and economic expertise, particularly as the department faces staff departures.
- New role
- Counselor to U.S. Treasury Secretary Scott Bessent
- Expected start
- Immediately
- Jefferies tenure
- Since 2010
- Academic qualification
- PhD in economics from the University of Rochester
- Federal Reserve service
- Served twice, including as a visiting adviser after the financial crisis
- Previous roles
- Global macro portfolio manager at Brevan Howard and UBS O’Connor
- Other position
- Heads the Global Macro Division of Leucadia Asset Management