MOVES-Morgan Stanley Saudi Arabia appoints new CEO, chairman-internal memo

August 1, 2016 1:47 PM

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DUBAI Aug 1 Morgan Stanley has appointed Ammar Al-Khudairy as chairman of Morgan Stanley Saudi Arabia, succeeding Richard A. Debs, according to an internal memo seen by Reuters and confirmed by a bank spokesman.

Al-Khudairy was a founding director of Morgan Stanley Saudi Arabia and had been vice chairman of its board since 2012, according to the memo. Debs, who had been chairman of Morgan Stanley Saudi Arabia since 2012, will continue to be an advisory director of Morgan Stanley, the memo added.

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