Morgan Stanley appoints Habib Achkar as CEO of Morgan Stanley Saudi Arabia

He will relocate to Riyadh.

"Habib's appointment is an important development as we continue to build our franchise in the Middle East," commented Dr Georges Makhoul, Morgan Stanley's President for the Middle East and North Africa region. "Saudi Arabia is an important strategic market for the firm and this appointment further demonstrates our commitment to building a leading franchise there."

"MSSA has made strong progress since it was established last year," added Fahad Almubarak, Chairman of MSSA. "Habib's extensive experience and skillset will enable us to further develop our business and expand the range of services we offer our clients."

Mr Achkar is a 19-year Morgan Stanley veteran, having joined the Firm in 1989 in New York. He has held a number of senior roles within the Firm, most recently as Head of Sales & Trading for France, running the Firm's market-leading equity and fixed income distribution business. Habib holds an MBA from Stern Business School, New York, and a Masters in Economics from Dauphine University, Paris.

"I am delighted to be taking on this role," added Habib Achkar. "As the largest market in the Middle East, the Kingdom of Saudi Arabia is a critical part of Morgan Stanley's regional growth strategy, and I am looking forward to working with the team to build on the strong foundations we have in place."

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 33 countries.