Moelis & Co., the New York-based investment bank that advised on Dubai World’s $25 billion debt restructuring, appointed Yorick Van Slingelandt as co-head of investment banking for the Middle East and North Africa.
Slingelandt joins after 15 years with JPMorgan Chase & Co. (JPM) in London, Hong Kong and Dubai and will be based in Dubai, Moelis said in an e-mailed statement today. He starts in October and will be jointly responsible for expanding the firm’s financial advisory and capital-raising services in the region with Augusto Sasso, according to the statement.
Moelis & Co., set up by former UBS AG banker Kenneth Moelis in 2007, announced the opening of an office in the Dubai International Financial Center in January and now has eight bankers, Sasso said in a phone interview today. In the past 12 months, Moelis has seen an equal mix of debt restructurings and mergers and acquisition deals, although most of its future work will be providing mergers and acquisitions advice, he said.
Dubai World, one of the emirate’s three main state-owned holding companies, completed its debt restructuring in June. Moelis is working on selling an asset for a sovereign wealth fund in the region, and helping to recapitalize three companies for sovereign funds, Sasso said in January.
“The merger and acquisition market will gradually get better as the financial markets get better,” Sasso said. “Valuations are at reasonable levels, and sellers are getting more comfortable with transacting at these valuations.”
Slingelandt was head of corporate finance for the Middle East & North Africa at JPMorgan, where he worked on mergers and acquisitions and capital-markets origination, Moelis said. His expertise includes telecommunications, aerospace and defence, transport and industrials.
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