Morgan Stanley announces intention to open office in Egypt, appoints Executive Director

The Firm also announced the appointment of Mr Amr Diab as Executive Director and Country Representative, with responsibility for Morgan Stanley's client coverage and business development activities in Egypt.

"As we continue to grow our business in the Middle East and North Africa, Egypt is an increasingly important market for Morgan Stanley," commented Dr Georges Makhoul, Morgan Stanley's President for the Middle East and North Africa region. "While we have advised the Egyptian government and private corporations for many years, we believe that this is the right time for us to establish a Morgan Stanley presence in the country. In addition, I am very pleased that Amr Diab will be joining us to spearhead our efforts in Egypt. He is a talented banker with a broad range of experience across different product lines, and he will play a critical role in building our business in Egypt."

"I am delighted to be rejoining Morgan Stanley," said Amr Diab. "With the positive developments in the Egyptian economy there is an increasing demand from clients in Egypt for investment banking and capital markets solutions. Morgan Stanley, with its global franchise and capabilities, is well placed to deliver such solutions. This is a great opportunity to build a market leading business and one to which I am very much looking forward."

Amr Diab is rejoining Morgan Stanley after spending 6 years as a hedge fund manager. He previously was at Morgan Stanley from 1993 to 2000.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management, wealth management and credit services. The firm's employees serve clients worldwide including corporations, governments, institutions and individuals from more than 600 offices in 31 countries.