Under Secretary for International Affairs
U.S. Department of the Treasury
David R. Malpass is Under Secretary for International Affairs at the U.S. Department of the Treasury. In this position, he is the principal advisor to the Secretary of the Treasury on international economic issues. Under Secretary Malpass oversees policies in the areas of international finance, trade in financial services, investment, economic development, and international debt policy. He also coordinates financial market policy with the Group of Seven industrialized countries.
He previously served as Deputy Assistant Secretary of the Treasury under President Ronald Reagan, Deputy Assistant Secretary of State under President George H. W. Bush, and Chief Economist at Bear Stearns. In 2008, he founded Encima Global, an economic research firm. In 2010, Mr. Malpass ran for the U.S. Senate in New York. During the 2016 U.S. presidential election, Mr. Malpass served as an economic advisor to then-candidate Donald J. Trump. Malpass has been a frequent contributor to the op-ed section of The Wall Street Journal and wrote a regular column in Forbes magazine.
During the presidencies of Ronald Reagan and George H. W. Bush, Malpass worked for Secretary James A. Baker on an array of economic, budget, and foreign policy issues, including the 1986 tax cut and the Latin American debt crisis. In addition to his Treasury and State Department positions, Malpass served as Senior Analyst for Taxes and Trade at the Senate Budget Committee and Republican Staff Director of the U.S. Congress’s Joint Economic Committee.
From 1977 to 1983, Mr. Malpass worked in Portland, Oregon. He was a CPA with Arthur Andersen’s systems consulting group, the controller at Consolidated Supply Co., and a contract administrator at Esco Corporation, a steel foundry.
Mr. Malpass is a former Board Member of the National Committee on United States–China Relations, the Council of the Americas, the Economic Club of New York, the Manhattan Institute, the Gary Klinsky Children's Centers, UBS Funds, and New Mountain Finance Corp (ticker NMFC).
He holds a Bachelor's degree in physics from Colorado College, an MBA from the University of Denver, and studied international economics at Georgetown University's School of Foreign Service.