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Morgan Stanley Former Mideast Equity Head Joins Amwal as CEO

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April 7 (Bloomberg) -- Fahmi Alghussein, Morgan Stanley’s former head of Middle East equity sales and trading, has joined Qatar asset management company Amwal as chief executive officer.

Alghussein, who was most recently at Dubai-based financial boutique HK Advisory Services Ltd., joined Amwal QSC on March 31 after leaving HK at the end of January, he said in a phone interview from Doha. Amwal is working to win more mandates to manage funds for companies, family offices, and high net worth individuals, he said.

Alghussein left Morgan Stanley in February 2013 after more than five years and has also worked for Citigroup Inc. and HSBC Holdings Plc. Morgan Stanley shifted its Middle East and North Africa equities business to Riyadh from Dubai last year, a banker familiar with the matter said at that time.

Institutions including Qatar National Bank SAQ, the country’s biggest lender, private equity company Abraaj Group Ltd. and Dubai-based investment bank Shuaa Capital PSC previously held stakes in Amwal. They sold out to company founder Sheikha Hanadi Nasser bin Khaled Al Thani in 2013, leaving her the sole shareholder, Alghussein said.

To contact the reporters on this story: Sarmad Khan in Dubai at skhan170@bloomberg.net; Arif Sharif in Dubai at asharif2@bloomberg.net

To contact the editors responsible for this story: Samuel Potter at spotter33@bloomberg.net Robert Lakin