DUBAI Feb 17 Morgan Stanley named
Patrick Delivanis as the head of investment banking in the
Middle East and North Africa, a spokesman confirmed on Monday,
replacing Klaus Froehlich who is relocating to Frankfurt for a
senior investment banking role.
Delivanis, who was instrumental in advising on the
state-backed merger of Abu Dhabi property firms Aldar Properties
and Sorouh Real Estate, has been with the bank's
investment banking team in Dubai since 2007.
Froehlich, the current MENA head, is relocating to Europe as
global head of capital markets for Germany and Austria. Prior to
his stint in the Middle East, he was the bank's head of equity
capital markets for Germany, Austria and Switzerland.
A spokesman for the bank in Dubai confirmed Delivanis'
appointment and Froehlich's move to Frankfurt.
Investment banking activity in the Middle East is showing
signs of a slow revival as mergers and acquisitions activity
picks up and equity sales recommence after a long hiatus.
Investment banking fees in the Middle East grew 20 percent
last year, data compiled by Thomson Reuters showed.
In 2013, Morgan Stanley was one of the advisers to telecoms
operator Etisalat in a block sale of its 9.1 percent
stake in Indonesia's PT XL Axiata and also advised
French lender Societe Generale in the sale of its
Egyptian arm to Qatar National Bank.