Morgan Stanley Expands Asset Management Presence In Middle East
Names Michael Samaha MENA Sales And Business Development Co-Head Of Morgan Stanley Investment Management
Dubai, UAE – June 18, 2008: Morgan Stanley (NYSE: MS) announced today that it has named Michael Samaha Co-Head of Middle East and North Africa (“MENA”) Sales and Business Development for Morgan Stanley Investment Management (MSIM). Mr Samaha, based in the Firm’s office in the Dubai International Financial Centre (DIFC), joins Nicolas Kahale, who has been leading the effort since 2006. Michael will work with Morgan Stanley Saudi Arabia to build MSIM’s distribution capabilities in the Kingdom and further develop MSIM’s joint venture with the National Bank of Kuwait. This announcement underlines MSIM’s commitment to delivering its broad array of investment products and solutions to MENA investors and to increasing investment into the region.
“Morgan Stanley opened its office in the DIFC two years ago and since then we have seen strong growth across all parts of our business,” said George Makhoul, MENA President for Morgan Stanley. “We have provided investment management solutions to investors in the region for decades and Michael’s presence on the ground in Dubai strengthens our ability to better serve this important client base.”
Commenting on the appointment, James Dilworth, Head of MSIM, Europe, Middle East and Africa, said: “Michael has solid asset management expertise and extensive knowledge of the Middle East and North Africa. Michael and Nicolas will together bring the leadership to not only enhance MSIM’s ability to deliver investment products and solutions to large and important MENA investors, including sovereign wealth funds and central banks, but will also support MSIM’s growth as we increase local investment through various investment products and deliver mutual fund type products to the burgeoning middle class.”
Mr Samaha joins Morgan Stanley from Lehman Brothers where he was Co-Head of Structuring & Marketing in the Fund Derivatives Group in London. Prior to this, he spent four years in Bahrain with Investcorp.
Morgan Stanley Investment Management, together with its investment advisory affiliates, has nearly 1000 investment professionals around the world and approximately $577 billion in assets under management or supervision as of February 29, 2008. By leveraging its global ‘community of boutiques’ structure and the strength of Morgan Stanley, MSIM strives to provide outstanding long-term investment performance, service and a comprehensive suite of investment management solutions to a diverse client base, which includes governments, institutions, corporations and individuals worldwide.
Morgan Stanley (NYSE:MS) is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 33 countries. For further information about Morgan Stanley, please visit www.morganstanley.com.