Morgan Stanley Said to Name Delivanis MENA Investment Bank Head

Morgan Stanley (MS), owner of the world’s biggest brokerage, appointed Patrick Delivanis to take over as investment banking head in the Middle East and North Africa, according to a person with knowledge of the matter.

Delivanis takes over with immediate effect from Klaus Froehlich and has worked for the New York-based bank in Dubai since 2007, according to the person, who asked not to be named as the information isn’t public. Froehlich becomes head of global capital markets for Germany and Austria, the person said.

Morgan Stanley was the Middle East and Africa’s top M&A adviser last year, working on deals valued at $11.8 billion, according to data compiled by Bloomberg. The bank last year advised Abu Dhabi’s Sorouh Real Estate Co. on its merger with Aldar Properties PJSC (ALDAR), the emirate’s largest developer. It also advised Riyadh-based utility ACWA Power International when Saudi Arabian sovereign wealth fund Sanabil and the nation’s pension agency acquired a 19 percent stake.

Froehlich, in an interview last week, said the bank was predicting the return of initial public offerings worth more than $1 billion in the Persian Gulf this year after asset values and stock markets rallied.

To contact the reporter on this story: Stefania Bianchi in Dubai at sbianchi10@bloomberg.net

To contact the editor responsible for this story: Dale Crofts at dcrofts@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.