Industrial Base Policy

Global Investment and Economic Security (GIES)



Global Investment and Economic Security protects DoD equities from adversarial foreign investment risks, at home and abroad by delivering national security risk analyses and mitigation proposals to decision makers to resolve national security concerns.

Who We Are

  • We analyze national security risk in U.S. global transactions
    • Develop and propose mitigation strategies to resolve national security concerns
    • Provide Congressional Certification and Presidential decision recommendations
    • Monitor executed mitigation agreements
  • We assess DoD and Defense Industrial Base impacts from mergers and acquisitions
  • We analyze current and emerging risks and opportunities within the industrial base, informing key policy, program, and investment decisions
  • We strengthen alliances by collaborating with allies and partners

Nicoletta Giordani Photo

Nicoletta Giordani

Acting Principal Director, Office of Global Investment and Economic Security (GIES)

Official Photo Biography Page

Our Focus

We oversee DoD’s representation on the following:

  • Committee for Foreign Investment of the United States (CFIUS)
  • Committee for the Assessment of Foreign Participation in the United States Telecommunications Services Sector (Team Telecom)
  • Department of Justice and Federal Trade Commission Hart-Scott-Rodino Anti-Trust reviews

Research economic national security issues involving foreign adversarial investment to inform policy recommendations to improve the resilience of the U.S. Defense Industrial Base

Strategically engage and collaborate with allies and partners to protect and bolster the domestic and allied Defense Industrial Bases


Global Investment and Economic Security (GIES) Organization Chart

An interagency committee that reviews transactions involving foreign parties for national security concerns in the United States.


Tom Argall

Division Director, Committee on Foreign Investment in United States

Reviews Federal Communications Commission license requests to protect national security and law enforcement concerns.


Brendan Ricci

Team Lead, Team Telecom

Assesses transactions between defense suppliers that may impact competition within the Department’s programs and the U.S. defense industrial base.


Brendan Ricci

Team Lead, Mergers & Acquisitions

The GIES Policy & Engagement (P&E) team develops DoD’s economic security framework, economic war games, and tabletop exercises to assess the health and resilience of our supply chain, leads international, interagency, and non-traditional partner outreach, and crafts economic security policy to strengthen U.S. national and economic interests from threats posed by adversarial capital incursions within the Defense Industrial Base (DIB).


Ike Blanton

Division Director, Policy and Engagement

The GIES Investments & Economic Analysis (IEA) team provides data-driven assessments, research, and investment trend analysis of the defense industrial marketplace through economic surveillance. In addition, IEA services the Non-Notified aspects of CFIUS; ensuring economic transactions within the Defense Industrial Base (DIB) comply with CFIUS policy and protocols to ensure resiliency of the DIB.


Peter Atherton

Division Director, Investments & Economic Analysis Division

The GIES National Security and Intelligence Research (NSIR) team focuses on reducing national security risk to the Defense Industrial Base by providing classified analytic insights, Intelligence Community integration, support for Congressionally-mandated projects, and research, assessments, and reviews across the GIES portfolio of responsibilities.


Widad Whitman

Division Director, National Security and Intelligence Research