Morgan Stanley projects recovery in Middle Eastern investment banking market
A resurgence in investment banking is expected by Morgan Stanley Inc for the Gulf region. It is also expecting that large scale retrenchments done by global lending firms would end because of the improving financial markets. This was confirmed by Morgan Stanley bank executives with Reuters.
After years of sluggish activity, the market in mergers and acquisitions, debt offerings and equity investments has been picking up. Now, the bank is looking at clients seeking advice regarding complex transactions requiring global expertise as well as underwriting services.
According to Morgan Stanley Chairman and CEO for Middle East and North Africa Sammy Kayello, "We want to lead with ideas rather than with the price of our balance sheet and try to bring real value in areas that involve complexity - especially across international borders."
He added, "It's all about return on equity. That's what we think about and that's what we aim to constantly improve."