SMBC Rehires Treasury’s Joseph Lavorgna for Chief Economist Role

SMBC Nikko Securities America Inc. rehired Joseph Lavorgna as its chief economist for the Americas, luring him away from the US Treasury Department.

He’ll support SMBC’s entire Americas division with economic insights and expertise in an expansion of his previous role at the bank, according to a memo sent internally Tuesday and seen by Bloomberg News. He served as the bank’s chief economist for the Americas from 2022 to June 2025, before moving to the Treasury Department, where he was counselor to Treasury Secretary Scott Bessent.