Bessent Hires Former Jefferies Strategist David Zervos as Treasury Counselor
Treasury Secretary Scott Bessent has appointed David Zervos, former chief market strategist at Jefferies, as a counselor in the department. The hire, which does not require Senate confirmation, aims to bolster Treasury’s strategy amid rising bond yields and AI-driven capital spending. Zervos, a former Federal Reserve official, supports Bessent’s recent bond buyback initiatives and advocates for lower interest rates. His appointment follows a period of staff turnover at the Treasury, where seven confirmed appointees departed by mid-August 2026. Zervos will serve as a special government employee until April 2027, allowing him to avoid certain divestiture requirements while providing immediate advisory support on economic policy.
