Latest news with #industrialservices
Reuters
2 days ago
- Business
- Reuters
Morgan Stanley hires Shahsingh from UBS to head North American industrial services IB
NEW YORK, July 21 (Reuters) - Morgan Stanley (MS.N), opens new tab has hired Aftab Shahsingh from UBS (UBSG.S), opens new tab to lead industrial services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for over 15 years and led more than 50 advisory and capital-raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank. The bank saw a pick-up in activity in the latest part of the second quarter, CEO Ted Pick told investors during the earnings call. "The second half ended with increasing engagement and a steady rebound in capital markets," Pick told analysts. Chief Financial Officer Sharon Yeshaya told Reuters in an interview the bank is optimistic about M&A discussions. "Companies are looking past tariffs for strategic movements and growth," she said.
Yahoo
2 days ago
- Business
- Yahoo
Morgan Stanley hires Shahsingh from UBS to head North American industrials banking
NEW YORK (Reuters) -Morgan Stanley hired Aftab Shahsingh from UBS to lead industrials services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for more than 15 years and led more than 50 advisory and capital raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
Morgan Stanley hires Shahsingh from UBS to head North American industrials banking
NEW YORK, July 21 (Reuters) - Morgan Stanley (MS.N), opens new tab hired Aftab Shahsingh from UBS (UBSG.S), opens new tab to lead industrials services coverage in its investment bank in North America, according to a source familiar with the situation. Shahsingh has worked in industrial services for more than 15 years and led more than 50 advisory and capital raising transactions since 2020, said the source, who declined to be identified discussing personnel matters. Shahsingh will join Morgan Stanley later this year. The bank has been adding to its industrials practice with recent hires, including David Hammond in metals and mining and Sean Murray for chemicals, both from Goldman Sachs, and Andy Lipsky and Chris Khouri for industrial technology coverage from JPMorgan Chase. Last week, Morgan Stanley reported a profit that beat Wall Street estimates in the second quarter, but its investment banking revenue shrank.
bnok24
15-07-2025
- Business
- bnok24
EFG Hermes Advises Nesma & Partners on Strategic Acquisition of Al Yusr Industrial Contracting Company (AYTB)
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its Investment Banking division has successfully concluded its advisory role to Nesma & Partners, the leading integrated projects solutions company in Saudi Arabia, on the acquisition of Al Yusr Industrial Contracting Company (AYTB), a prominent provider of industrial services in the Kingdom. EFG Hermes acted as the sole buyside financial advisor to Nesma & Partners Saud Altassan, CEO of EFG Hermes KSA, added: 'This transaction is a strong testament to the strength and depth of Saudi Arabia's industrial sector and reflects our commitment to empowering key national players that are actively shaping the Kingdom's transformation. We are honored to have supported Nesma & Partners on this important milestone and remain focused on driving impactful, value-creating advisory work that aligns with Vision 2030's goals of localization, diversification, and sustainable growth Commenting on the transaction, Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: 'We are proud to have supported Nesma & Partners in executing this strategic acquisition, which reflects our continued commitment to advising regional champions as they grow, transform, and contribute to national development priorities. This transaction marks a pivotal moment in Nesma & Partners' evolution and enhances its capacity to deliver high-value services across the whole asset lifecycle AYTB brings over four decades of specialized expertise in operations and maintenance (O&M), manufacturing, and industrial services across critical sectors such as oil & gas, petrochemicals, and power generation. AYTB will continue to operate as an independent company within the Nesma & Partners group, preserving its organizational structure, brand, and operational autonomy Nesma & Partners group is the leading provider of integrated project solutions in the Kingdom of Saudi Arabia. With a strong legacy in contracting, Nesma & Partners has grown its footprint both locally through its contracting and industrial services and globally through its wholly owned subsidiary, Kent, a renowned leader in engineering and project management services What began in 1981 as a contracting firm to meet the growing demands of an emerging economy in the rapidly developing Kingdom of Saudi Arabia, has evolved today into a diversified group delivering end-to-end, reliable, and innovative services across the energy, infrastructure, and building sectors, spanning consulting, engineering, construction, commissioning, operations, and maintenance Jointly owned by Nesma Contracting Limited, Alturki Holding, Rawabi Holding, and the Public Investment Fund (PIF), the group is deeply committed to Saudi Arabia's Vision 2030, driving national transformation through consistent innovation, strategic capacity building, and a firm dedication to sustainable growth Since the beginning of the year, EFG Hermes has advised on 5 M&A transactions and 6 ECM transactions across the region, including landmark transactions in Egypt, UAE, Saudi Arabia, and Oman, underscoring its leadership in regional markets Google News تابعونا على تابعونا على تطبيق نبض
Zawya
15-07-2025
- Business
- Zawya
EFG Hermes advises Nesma & Partners on strategic acquisition of Al Yusr Industrial Contracting Company
This strategic investment positions Nesma & Partners as the leading integrated industrial services platform, enhancing its capabilities across the energy, infrastructure, and industrial sectors in alignment with Saudi Arabia's Vision 2030 development objectives. Riyadh, EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA), announced today that its Investment Banking division has successfully concluded its advisory role to Nesma & Partners, the leading integrated projects solutions company in Saudi Arabia, on the acquisition of Al Yusr Industrial Contracting Company (AYTB), a prominent provider of industrial services in the Kingdom. EFG Hermes acted as the sole buyside financial advisor to Nesma & Partners. Saud Altassan, CEO of EFG Hermes KSA, added: 'This transaction is a strong testament to the strength and depth of Saudi Arabia's industrial sector and reflects our commitment to empowering key national players that are actively shaping the Kingdom's transformation. We are honored to have supported Nesma & Partners on this important milestone and remain focused on driving impactful, value-creating advisory work that aligns with Vision 2030's goals of localization, diversification, and sustainable growth.' Commenting on the transaction, Karim Meleka, Co-Head of Investment Banking at EFG Hermes, said: 'We are proud to have supported Nesma & Partners in executing this strategic acquisition, which reflects our continued commitment to advising regional champions as they grow, transform, and contribute to national development priorities. This transaction marks a pivotal moment in Nesma & Partners' evolution and enhances its capacity to deliver high-value services across the whole asset lifecycle.' AYTB brings over four decades of specialized expertise in operations and maintenance (O&M), manufacturing, and industrial services across critical sectors such as oil & gas, petrochemicals, and power generation. AYTB will continue to operate as an independent company within the Nesma & Partners group, preserving its organizational structure, brand, and operational autonomy. Nesma & Partners group is the leading provider of integrated project solutions in the Kingdom of Saudi Arabia. With a strong legacy in contracting, Nesma & Partners has grown its footprint both locally through its contracting and industrial services and globally through its wholly owned subsidiary, Kent, a renowned leader in engineering and project management services. What began in 1981 as a contracting firm to meet the growing demands of an emerging economy in the rapidly developing Kingdom of Saudi Arabia, has evolved today into a diversified group delivering end-to-end, reliable, and innovative services across the energy, infrastructure, and building sectors, spanning consulting, engineering, construction, commissioning, operations, and maintenance. Jointly owned by Nesma Contracting Limited, Alturki Holding, Rawabi Holding, and the Public Investment Fund (PIF), the group is deeply committed to Saudi Arabia's Vision 2030, driving national transformation through consistent innovation, strategic capacity building, and a firm dedication to sustainable growth. Since the beginning of the year, EFG Hermes has advised on 5 M&A transactions and 6 ECM transactions across the region, including landmark transactions in Egypt, UAE, Saudi Arabia, and Oman, underscoring its leadership in regional markets. -ENDS- About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
