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The New Year shake up of senior bank executives continued over the weekend, as Bloomberg reports that Morgan Stanley has appointed Amr Diab and Klaus Froehlich as co-heads of investment banking in the Middle East and North Africa. The move comes roughly a week after it was announced that Walid Chammah, a close ally of former CEO John Mack, was retiring.
Per Bloomberg, Diab was most recently responsible for Egyptian and North African coverage and Froehlich has been leading global capital markets for the region from Dubai since 2009.
Earlier, in November 2011, Morgan Stanley named Kamal Jabre as the chairman and chief executive of all Middle East and North Afircan business for the bank, Reuters reported.