Citi re-hires Obama aide Nathan Sheets as global chief economist

Citi has re-hired Nathan Sheets as global chief economist, seven years after his departure from the bank to work under former President Obama.

Sheets will return to Citi to oversee the global economics team in New York and lead research across all areas of economics. He is set to replace Catherine Mann, who left in May after three years in the role.

Sheets joins Citi from PGIM Fixed Income, where he has been chief economist and head of macroeconomics research since 2017. Before this, he spent three years as undersecretary for international affairs under Obama.

This is Sheet’s second time at Citi. He worked with Citi for three years from 2011 to 2014 as global head of international economics.

Prior to his first stint at Citi, Sheets was with the Federal Reserve Board in Washington for 18 years. During his tenure, he served in a variety of roles, including director of the Division of International Finance and as an economist to the FOMC.

“It’s great to be back at Citi and I look forward to once again tapping into the firm’s unmatched global footprint, expansive expertise, and broad network of clients,” said Sheets.

Sheets will take up his new role in October and will be based in New York.