Dr. Armonat studied finance at the Ludwig-Maximilians-Universität in Munich, obtained his PhD in asset management at the Technical University of Darmstadt, and completed post-graduate work in macroeconomics and monetary policy at the Kiel Institute for the World Economy.

Prior to joining Morgenroth, Stefan managed direct credit investments at Merrill Lynch and was in charge of the European asset recovery group for Credit Suisse. He later transitioned to the asset allocation side, acting as managing director of a number of family offices, including Kühne Holding and Woodman Asset Management, both located in Switzerland.