Published: October 2, 2008
Morgan Stanley has further strengthened its Saudi Arabia team by appointing Habib Achkar, managing director, as chief executive officer of Morgan Stanley Saudi Arabia. Achkar will oversee the continued expansion of MSSA and will relocate to Riyadh.
“Habib’s appointment is an important development as we continue to build our franchise in the Middle East,” comments 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,” adds Fahad Almubarak, chairman of MSSA. “Habib’s extensive experience and skill set will enable us to further develop our business and expand the range of services we offer our clients.”
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 and trading for France, running the firm’s market-leading equity and fixed income distribution business.