Star technology investment banker Michael Grimes, who left Morgan Stanley to take up a senior role in the U.S. Commerce Department last month, is expected to lead the new U.S. sovereign wealth fund that was unveiled by President Donald Trump,

Michael Grimes, a well-known technology investment banker who recently traded his Morgan Stanley (MS) role for a senior advisor role in the U.S. Commerce Department, is set to potentially spearhead the new U.

The Commerce Department is tapping former Morgan Stanley banker Michael Grimes to lead a planned sovereign wealth fund, part of President Donald Trump’s effort to give the US a stake in projects he considers critical to national security.