In line with its strategy of deploying the Firm’s comprehensive resources in the Middle East and North Africa Region, Morgan Stanley today announced its intention to seek appropriate regulatory approvals to establish an office in Cairo, Egypt. The Firm also announced the appointment of Mr Amr Diab as Executive Director and Country Representative, with responsibility for Morgan Stanley’s client coverage and business development activities in Egypt.
“As we continue to grow our business in the Middle East and North Africa, Egypt is an increasingly important market for Morgan Stanley,” commented Dr Georges Makhoul, Morgan Stanley’s President for the Middle East and North Africa region. “While we have advised the Egyptian government and private corporations for many years, we believe that this is the right time for us to establish a Morgan Stanley presence in the country. In addition, I am very pleased that Amr Diab will be joining us to spearhead our efforts in Egypt. He is a talented banker with a broad range of experience across different product lines, and he will play a critical role in building our business in Egypt.”
“I am delighted to be rejoining Morgan Stanley,” said Amr Diab. “With the positive developments in the Egyptian economy there is an increasing demand from clients in Egypt for investment banking and capital markets solutions. Morgan Stanley, with its global franchise and capabilities, is well placed to deliver such solutions. This is a great opportunity to build a market leading business and one to which I am very much looking forward.”
Amr Diab is rejoining Morgan Stanley after spending 6 years as a hedge fund manager. He previously was at Morgan Stanley from 1993 to 2000.
Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. The Firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 31 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.
Note to Editors:
Morgan Stanley in the Middle East & North Africa
Morgan Stanley has been active in the Middle East and North Africa region since the 1970s, providing a variety of investment banking, asset management and wealth management services. The Firm opened its first office in the Middle East region in the Dubai International Financial Centre in March 2006 and plans to open other offices in the region. The office in Cairo will be the Firm’s first office in North Africa.
Morgan Stanley’s recent transactions in relation to Egypt include:
• Advised Enel on $15.2 billion sale of Wind to Weather
• Acted as Joint Book Runner for the issuance of $1.55bn notes for the EGPC
• Acted as Book Runner on $1.25bn debt issue for the Government of Egypt
• Acted as Book Runner and Co-Manager on $150m debt issue for the EGPC
• Advised Enel on $2.58bn sale of 26.1% Stake in Weather
Amr Diab biography
2003 – present: Cheiron Capital, founder and portfolio manager
2001 – 2003: Walter Capital Management, portfolio manager
2000 – 2001: Bessent Capital, global financials analyst
1998 – 2000: Morgan Stanley Investment Management, portfolio manager
1993 – 1998: Morgan Stanley, investment banking, private equity & strategic planning
Mr. Diab is an Economics graduate of the American University in Cairo, and in 1993 he received a Fulbright Scholarship for the Program on Investment Appraisal and Management at Harvard University
Contact: Media Relations, Hugh Fraser, +44.207.425.3923