Morgan Stanley has appointed Patrick Delivanis as new head of investment banking for the Middle East and North Africa, succeeding Klaus Froehlich.

Delivanis has been with the bank’s investment banking team in Dubai since 2007. Additionally, he has advised on the state-backed merger of Abu Dhabi property firms Aldar Properties and Sorouh Real Estate.

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However, Froehlich will move to Frankfurt to pursue a senior investment banking role within the bank as global head of capital markets for Germany and Austria.

Previously, Froehlich served as the bank’s head of equity capital markets for Germany, Austria and Switzerland.

Morgan Stanley has worked on deals worth US$11.8 billion last year, reported Bloomberg.

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