RBC Wealth Management – U.S.
As CEO, Michael leads RBC’s wealth management growth strategy in the U.S. The strength and stability of RBC, combined with the firm’s client-first approach, have long made RBC Wealth Management the top choice for clients and financial advisors. Michael brings together RBC’s first-class resources, talent and capabilities to provide trusted advice and wealth management solutions that help individuals, families and institutions achieve their financial goals.
Before joining RBC, Michael was the managing director and global head of Wealth Management at Jefferies & Co., where he led Jefferies’ growth by expanding product and service offerings and attracting top financial advisors.
Prior to his time at Jefferies, Michael spent 25 years at Morgan Stanley and held a succession of senior management positions. As the global head of Capital Markets for Wealth Management, he was responsible for all trading, content and risk management activities in the debt, equity and structured product markets for 17,000 financial advisors.
Previously, Michael served as the global head of Morgan Stanley Private Wealth Management, a business dedicated to the wealth management and private banking needs of ultra-high-net-worth individuals, their families and endowments in the U.S., Europe, Asia, Latin America and the Middle East. Michael began his career as an institutional fixed income derivatives sales professional and later developed the fixed income and equity middle markets businesses for Morgan Stanley. He also served as the COO of non-Japan Asia in Hong Kong and the head of International Prime Brokerage in London.
In addition to these roles, Michael was named to the firm’s Management Committee, the Wealth Management Executive Committee and to the board of the Morgan Stanley Swiss Bank.
Armstrong received his Bachelor of Arts degree from Duke University and his MBA from Harvard Business School. He has two college-age children and lives in Minneapolis.