Goldman Sachs’s Armstrong Is Said to Leave Firm for Comcast JobEdmund Lee and Alex Sherman
Jason Armstrong, a 13-year veteran of Goldman Sachs Group Inc. who oversaw analysis of phone and cable companies, is leaving to become Comcast Corp.’s head of investor relations, according to a person with knowledge of the matter.
Armstrong starts in late January, said the person, who asked not to be identified because the move hasn’t been publicly announced. Comcast, based in Philadelphia, is the largest U.S. cable company.
As the lead analyst for the investment bank’s North American communications equity research group, Armstrong covered the pay-TV industry, including Comcast, Dish Network Corp. and Time Warner Cable Inc., as well as their competitors in the phone industry, such as AT&T Inc. and Verizon Communications Inc. He joined Goldman in 2000 and was previously with Ernst & Young LLP in Chicago, according to Goldman’s website.
Leslie Shribman, a spokeswoman for New York-based Goldman Sachs, declined to comment, as did John Demming, a spokesman for Comcast. Armstrong couldn’t be reached for comment through his Goldman Sachs office and e-mail address.
Armstrong had a buy rating on Comcast for most of the past four years, according to data compiled by Bloomberg.