By Jacqueline Simmons Feb. 9 (Bloomberg) — Michael Zaoui , a 21-year Morgan Stanley dealmaker who helped advise Arcelor SA in the takeover by Mittal Steel Co. that created the world’s largest steelmaker, may set up his own firm this year, according to people familiar with the matter. Zaoui, 53, retired from Morgan Stanley in 2008 and maintained ties to major European clients, including Lafarge SA, the people said. He recently worked with Lafarge Chief Executive Officer Bruno Lafont on the Paris-based company’s agreement to sell its 17 percent stake in Cimpor-Cimentos de Portugal SGPS SA to Brazil’s Votorantim Cimentos SA, said one of the people, who declined to be identified because the engagement was private. Morgan Stanley advised Lafarge. Investment bankers are striking out on their own as their firms hew to government-imposed compensation limits that put more stock and less cash in their wallets. “You can walk away with more cash now, versus staying with a big firm where it may be deferred for years,” said Jeanne Branthover , head of financial services at Boyden Global Executive Search in New York. Among those who’ve founded their own firms in the past three years are Goldman Sachs Group Inc. ’s Byron Trott , who runs BDT Capital Partners in Chicago; UBS AG’s Kenneth Moelis , who is at Moelis & Co. in New York; and Frank Quattrone , a former Credit Suisse Group banker who founded San Francisco-based Qatalyst Partners. In London, Klaus Umek , the former head of investment banking at Goldman Sachs in Austria, said last year he was starting Petrus Advisers LLP. Arcelor, Aventis Zaoui was Morgan Stanley’s chairman of European mergers and acquisitions when he retired after working on some of Europe’s biggest deals, such as advising Arcelor in 2006. He also worked for Aventis SA in its defense against a hostile bid from Sanofi- Synthelabo SA in 2005 and on Unibail Holding SA’s 2007 takeover of Rodamco Europe NV, which led to the creation of Europe’s largest shopping-center owner. Zaoui’s younger brother Yoel runs European investment banking at Goldman Sachs Group Inc. Zaoui, who hasn’t worked at a major financial services firm since leaving Morgan Stanley, is involved in advising on other transactions and may create his own firm as soon as this year, the people said. He will continue to be based in London. Since leaving Morgan Stanley he has also worked on various charitable projects. Lafarge spokeswoman Claire Mathieu declined to comment yesterday on Zaoui’s work for the company. Financial News earlier reported Zaoui was hired as an adviser to Lafarge’s CEO on the sale of its stake in Cimpor. Zaoui also advised Lafarge in its 2007 purchase of Egypt’s Orascom Construction Industries. Born in Morocco, Zaoui was raised in Rome and Paris and speaks Italian and French. He attended the University of Paris, where he studied law and political science. Zaoui also went to the London School of Economics and Harvard Business School, which he graduated from in 1983. To contact the reporter on this story: Jacqueline Simmons in Paris at jackiem@bloomberg.net
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Ex-Morgan Stanley Banker Zaoui Said to Weigh Starting Own Firm This Year
