Deloitte expands debt advisory team

Business advisory firm Deloitte has made two senior appointments to its debt advisory team. Tim Armstrong, formerly of Morgan Stanley, joins as a director, and Floris Hovingh joins as an associate director.

During his tenure at Morgan Stanley, Armstrong 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, he was a Captain in the British Army.

Hovingh 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, he spent four and a half years with the Dutch merchant bank, NIBC.