Investment banking company Morgan Stanley has appointed Sammy Kayello to be the new chairman and chief executive of the Middle East and North Africa division of their business. Kayello replaces Kamal Jabre, who will be moving to the London branch of Morgan Stanley as a senior investment banker.

Kayello is a 25-year Morgan Stanley veteran. He led the investment bank’s sales and trading operations in MENA and has made his headquarters in Dubai since 2006.

Jabre’s immediate boss in London will be Franck Petitgas, who is the global co-head of investment banking. The other head of the investment banking team for Morgan Stanley’s London office is Mark Eichorn.

“He (Jabre) is inheriting a bigger business and a wider region in the new role, so this is effectively a promotion for him,” said an unnamed source.