FT appoints two for Washington bureau

The Financial Times announced Wednesday two key appointments in its Washington bureau to strengthen its coverage of the U.S. economy and the regulation of American business under the Biden administration.

Colby Smith has been appointed U.S. economics editor, where she will lead the FT’s coverage of the Federal Reserve, and Stefania Palma has been named U.S. legal and enforcement correspondent, where she will cover the law enforcement regulatory agencies that watch over corporate America.

Smith, who will also cover the IMF and World Bank, becomes the first woman in this critical position for the FT, joining the Washington bureau after covering U.S. Treasuries and other sovereign debt as capital markets correspondent in New York. In her new role, she will also contribute to coverage of the White House and U.S. Treasury Department’s domestic and international economic policies.

Prior to joining the FT she worked for Bloomberg and The Economist.

“Colby is already one of the most astute writers on the US economy from her perch covering capital markets in New York, and now FT readers will get a chance to read her insights on a regular basis,” said Peter Spiegel, U.S. managing editor. “I’m very excited to have Colby heading to Washington at this critical time for the Fed.”

Palma, whose new position includes covering the Justice Department and the Securities and Exchange Commission, comes to Washington after a three year tenure as the FT’s Singapore correspondent, where she was part of the FT’s award-winning team that uncovered fraud at Wirecard, the collapsed German financial group. Prior to the FT, Palma was Asia Editor at The Banker.

“Stefania’s relentless work on the Wirecard investigative team shows what kind of reporting chops she brings to one of the FT’s most important beats in Washington,” Spiegel said. “I can’t wait for FT readers to see her sink her teeth into Washington’s corporate watchdogs.”