| DUBAI, July 30
DUBAI, July 30 Morgan Stanley has
appointed Qatari national Abdulla al-Ansari as the bank's new
head in the country, according to an internal memo seen by
Reuters, a sign the U.S. bank is positioning itself for a share
of rising deal activity from the gas-rich Gulf state.
Al-Ansari, who has previously worked at Qatar National
Bank's brokerage division, will replace Khalid
al-Subeai who joined The First Investor, the investment banking
arm of unlisted local lender Barwa Bank, late last year.
A spokesman for Morgan Stanley confirmed the contents of the
Qatar has spent billions of dollars buying stakes in some of
the world's high-profile companies through its sovereign wealth
fund. The Gulf state is also expected to beef up infrastructure
spending as it hosts the football World Cup in 2022.
"Abdullah brings significant experience in the Qatari
brokerage industry as well as a broad network to the firm," the
memo said. He will be part of the bank's investment banking
department but will work with all other divisions to help expand
the Qatar business, it said.
Investment banking activity in the region is showing signs
of a slow revival as financial markets pick up and global
companies resume expansion plans.
Morgan Stanley was the sole adviser on the merger of two
state aluminium producers in the United Arab Emirates in June, a
15 billion dollar deal to create the world's fifth-largest
That deal saw the bank take the No.1 position for any
announced M&A deal in the Middle East, according to Thomson
Reuters league table data.
Qatar, which saw its emir hand over power to his 33-year-old
son Sheikh Tamim bin Hamad al-Thani last month, has about 30
billion dollars a year globally through its sovereign wealth
fund, which has picked up stakes in companies such as Glencore
, Volkswagen and Porsche.