Morgan Stanley has appointed George Makhoul as the firm’s first regional head for Middle East and North Africa, and has applied to the Dubai...

Morgan Stanley has appointed George Makhoul as the firm’s first regional head for Middle East and North Africa, and has applied to the Dubai Financial Services Authority for a license to operate in the financial centre. “This is a significant strategic step for Morgan Stanley”, said David Walker, chairman of Morgan Stanley International, in a statement. He added: “While we have a long and successful track record of meeting the needs of clients in the Middle East and North Africa region, the increasing demand for sophisticated investment products and services, coupled with the increase in local market volumes, means that now is the right time for us to set up our first office in the region.”