Royal Bank Names Jefferies's Armstrong to Lead U.S. Wealth
- Michael Armstrong to replace John Taft, who retires next month
- He joined Jefferies in 2014, earlier worked at Morgan Stanley
This article is for subscribers only.
Royal Bank of Canada, the country’s largest lender by assets, named Jefferies Group’s Michael Armstrong as head of its U.S. wealth-management business.
Armstrong, global head of wealth management at New York-based Jefferies since 2014, will start later this year, the Toronto-based firm said in an internal memo obtained Friday by Bloomberg News. He’ll replace John Taft, who plans to retire May 31 as chief executive officer of RBC Wealth Management U.S., and report to Russell Goldsmith, CEO of the lender’s City National Bank unit.