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Michael Zaoui to retire from Morgan Stanley

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.