Morgan Stanley Woos SWFs
Team leader was previously part of the firm's financial sponsors group in New York.
April 15, 2008
Morgan Stanley has established a team in its Dubai office to cover sovereign wealth funds and financial sponsors in the Middle East and North Africa (MENA).
Dennis Cornell, previously a New York-based senior coverage banker in Morgan's financial sponsors group, will lead the team. The other two professionals are Hugo Parson, formerly part of the firm's leveraged and acquisition finance group in London, and Hani Ramadan, who joins Morgan from UBS, where she was a member of the financial sponsor group.
The trio will report to David Law, chairman of MENA investment banking, who headed the firm's non-US financial sponsors division from 2004 to early 2008.
"They are great additions and underscore Morgan Stanley’s commitment to providing superior advice and execution in transactions for the MENA region’s biggest investors," said Law. "With this team, we have the largest commitment of dedicated bankers in the region to cover sovereign wealth funds and financial sponsors."
Morgan opened its office in the Dubai International Financial Center (DIFC) in 2006. It was the firm's first branch in the MENA region.
"Sovereign wealth funds and financial sponsors are a strategic client segment for Morgan Stanley, and with their increasingly international investment focus, it is critical that we have the depth of resource to deliver the capability of the whole firm," said Georges Makhoul, MENA president at Morgan.
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