A big name in Silicon Valley banking is stepping into a significant government role. Michael Grimes, a top executive at Morgan Stanley, is expected to join the Commerce Department as a senior official. This move places him among the growing list of tech leaders entering public service.

Grimes is no stranger to high-stakes deals. He played a key role in Elon Musk’s $44 billion purchase of Twitter in 2022, connecting Musk with investors to seal the deal. His expertise has also guided major tech companies like Facebook and Uber through their initial public offerings. In fact, Grimes once worked as an Uber driver to win over the company’s leadership—a move that paid off when he led their IPO in 2019.

At the Commerce Department, Grimes will tackle critical issues like international trade, export controls, and artificial intelligence policy. The agency is also responsible for distributing billions in subsidies to boost semiconductor manufacturing and expand broadband access across the country.

Grimes won’t be alone in this transition. He’ll be working alongside Howard Lutnick, another Wall Street veteran who’s set to lead the department as commerce secretary. The two are expected to bring a wealth of private-sector experience to the federal government.

This shift highlights the increasing ties between Silicon Valley and Washington, as more tech leaders step into influential roles. As Grimes prepares to take on his new position, all eyes will be on how he shapes the future of U.S. tech and trade policy.