Jefferies Group has reportedly hired former Morgan Stanley banker Michael Armstrong to run its small wealth-management group, replacing Mark Peters.
Jefferies Group, an American global investment bank and institutional securities firm, has reportedly appointed Michael Armstrong to manage its small wealth-management group, replacing Mark Peters.
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Based in Manhattan, Armstrong will report to Peter Forlenza, the firm’s global head of equities, Reuters has reported.
In his new role, Armstrong will join next week to head almost 50 brokers in Jefferies’ nine wealth management offices in the United States, London and Dubai.
These brokers will sell investments and financial planning services to employees of Jefferies’ middle-market investment banking clients and to employees of Leucadia National Corp, Jefferies’ parent company.
Peters has left in late December to join hedge fund Whippoorwill Associates.
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By GlobalDataArmstrong has joined Jefferies from Morgan Stanley, where he worked for 25 years most recently serving as head of private wealth management and as head of global capital markets at the wealth division at the end of 2012.
Previously, he also led about 500 brokers as managing director in charge of Morgan Stanley’s private wealth division, which focuses on individuals and families with US$25 million or more to invest from late 2007 to April 2010.
