Deloitte, the business advisory firm, has strengthened its debt advisory practice with two senior appointments.  Tim Armstrong, formerly of Morgan Stanley, joins as a director and Floris Hovingh joins as an associate director.

During his tenure at Morgan Stanley, Tim was responsible for the global distribution and syndication of structured products.  Prior to joining Morgan Stanley, he spent five years at Merrill Lynch where he focused on the distribution of USD CDOs to European investors.  Before embarking on his financial career, Tim was a Captain in the British Army.

Floris joins from HBoS’s leveraged finance team, where he was responsible for the origination and execution of acquisition debt for financial sponsor backed deals.  Prior to this, Floris spent four and a half years with the Dutch merchant bank, NIBC.

James Douglas, head of Deloitte’s debt advisory practice, comments: “We are delighted to have Tim and Floris join our team.  The market is experiencing an unprecedented period of upheaval, and now, more than ever before, businesses are looking to re-evaluate their debt provisions and requirements.  Accordingly, we are strengthening our team to meet these demands.  We look forward to working with both Tim and Floris to maximise their experience for the benefit of our clients.”

Tim Armstrong comments: “The economy is undergoing a particularly challenging time – the very nature of debt and its wider impact has changed substantially.  I look forward to engaging with the challenges that this presents alongside such a well-regarded team.”

Floris Hovingh comments: “Deloitte has a proven reputation, and I welcome the opportunity to join the team to tackle the numerous difficulties the current turmoil presents.”

ends

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In this press release references to Deloitte are references to Deloitte & Touche LLP, which is among the country's leading professional services firms.

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The information contained in this press release is correct at the time of going to press.

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