Morgan Stanley has announced that Michael Zaoui will retire as the chairman of European mergers and acquisitions, according to Reuters.
According to the report, Mr Zaoui is retiring at a time when the M&A activity has been witnessing a fall due to the crisis in the market. During 2007, it was reported that M&A activity had reached its peak. Mr Zaoui, who joined the company in 1986, was most recently involved in the merger between Gaz de France and Suez.
According to Reuters, a spokesman of Morgan Stanley, said: We can confirm that Michael Zaoui is retiring.