Bloomberg News reports that Armstrong will lead the group with Mike Wyatt, according to an internal memo from Michael Grimes, Drew Guevara and Andy Kearns, who run the bank’s global technology group within investment banking. Armstrong was head of technology in the Americas for Credit Suisse, according to the memo.
In the meantime, Bloomberg also reports that Morgan Stanley’s head of Russian oil and gas research, Pavel Sorokin, left the bank to run a unit advising the country’s Energy Ministry, joining an exodus from the financial industry amid Russia’s first recession since 2009.
Sorokin, 30, joins a number of Russian analysts and economists moving to the government or state-related jobs as banks endure difficult times. The nation’s financial industry has been hurt by a combination of sanctions that limit borrowing, a weak ruble and the collapse in oil prices.