Richard Verma to take over as Special Representative for Ukraine’s economic recovery

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The State Department announced August 6, 2024, that Indian American Deputy Secretary of State for Management and Resources Richard Verma will be taking over the position of Special Representative for Ukraine’s Economic Recovery.

He would be replacing Penny Pritzker who has held the position over the last year. She was appointed by statute for a one-year period.

“While Penny’s position is limited to one year by statute, the work she began will continue,” Secretary of State Antony Blinken is quoted saying in the press statement.

“Deputy Secretary of State for Management & Resources Richard Verma will carry forward her work in service of the United States’ efforts to support Ukraine’s economic recovery.   The Biden administration is committed to helping Ukraine stand strongly on its own feet – militarily, economically, and democratically,” Blinken added.

In his current role which he began in April 2023, he acts as the State Department’s Chief Operating Officer, and leads the Department’s efforts on modernization, foreign assistance, and a wide range of workforce and strategic issues.

Deputy Secretary Verma previously served as the U.S. Ambassador to India, where he led one of the largest U.S. diplomatic missions “and championed historic progress in bilateral ties,” the State Department profile says about him.

He is also a former Assistant Secretary of State for Legislative Affairs and the former National Security Advisor to the Senate Majority Leader.

Prior to serving on Capitol Hill and in the government, Verma had a career in the private sector, most recently serving as the Chief Legal Officer and Head of Global Public Policy for Mastercard.

He is a former partner at the law firm of Steptoe & Johnson, and the Vice Chairman of The Asia Group, a global consulting firm. He also served on the T. Rowe Price corporate board of directors.

Deputy Secretary Verma is a veteran of the U.S. Air Force, and the recipient of numerous military awards and civilian decorations, including the Meritorious Service Medal and the State Department’s Distinguished Service Award.

He is also the recipient of the Council on Foreign Relations International Affairs Fellowship, and the Chief Justice Marshall Lifetime Achievement Award. Deputy Secretary Verma was a member of the President’s Intelligence Advisory Board, the Weapons of Mass Destruction and Terrorism Commission, and the Secretary of State’s Foreign Affairs Policy Board. He has served on a number of non-profit boards, including the Ford Foundation, Lehigh University, and the National Endowment for Democracy.

Verma was a Senior Fellow at Harvard University’s Belfer Center for Science and International Affairs, and he holds multiple academic degrees, including his doctorate (Ph.D.) from Georgetown University and his law degree (J.D.) from American University.

Pritzker, in her position as Special Representative for Ukraine for a year, traveled to that country six times leading multiple CEO delegations to Kyiv, and making stops across Europe, all with the primary objective of helping the people of Ukraine lay the groundwork for full-scale economic recovery and EU accession, Secretary of State Antony Blinken said in the press statement.

Pritzker is credited with mobilizing approximately $9 billion in economic assistance to Ukraine in the most recent supplemental; help launch the G7+ Multi-agency Donor Coordination Platform Business Advisory Council to provide essential private sector insights, expertise, and visibility in support of Ukraine’s recovery; supported Ukraine’s effort to pass key economic reforms to catalyze private sector investment; started a Defense Industrial Base “Deal Team” that accelerates licensing, co-production, and joint ventures between U.S. and Ukrainian defense companies; and worked closely with private sector companies to bring essential war-risk insurance to market.

“As a result, Ukraine is better prepared for its future integrated with Euro-Atlantic institutions and plugged into European and global markets,” Blinken said.