close

policy

We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Agree
Disagree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Gender
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

 
 
Latest News

Kayello named new MENA head of Morgan Stanley

Morgan Stanley head of mergers
0

April 8, 2013 9:37 by



Morgan Stanley named veteran banker Sammy Kayello as the chief executive and chairman of its business in the Middle East and North Africa, replacing Kamal Jabre who is relocating to London for a senior investment banking role.

Kayello, who was in charge of the U.S. investment bank’s sales and trading operations in the region, has been with the bank for over 25 years and has been based in Dubai since 2006.

A spokesman for the bank in Dubai confirmed Kayello’s appointment and Jabre’s move to London.

Jabre, a mergers and acquisitions banker who took the top MENA role in 2011, is relocating to Londonas the deputy head for the bank’s investment banking business in Europe, Middle East and Africa(EMEA).

Jabre will report to Franck Petitgas, global co-head of investment banking, a banking source familiar with the matter said. Mark Eichorn is the other head of the bank’s investment banking team.

“He (Jabre) is inheriting a bigger business and a wider region in the new role, so this is effectively a promotion for him,” the source said, speaking on condition of anonymity.

Morgan Stanley, the sixth-largest U.S. bank by assets, is trimming staff at its Dubai office, mainly by cutting jobs in its equities division, as part of a global plan to reduce costs, sources told Reuters in January.

But investment banking activity in the region is showing signs of a slow revival as financial markets pick up and global companies resume expansion plans.

Mergers and acquisitions transactions targeting Middle Eastern firms amounted to $20 billion in 2012, double the activity in 2011, according to Thomson Reuters data. Fees from advising clients totalled $157.9 million, a 23 percent increase.

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 last year. The UAE telco got a $117 million gain on the deal.

The bank also advised French lender Societe Generale in the sale of its Egyptian arm to Qatar National Bank in December and was one of the banks involved in the state-backed merger of Abu Dhabi property firms Aldar Properties and Sorouh Real Estate.



0

Tags:

Leave a Comment