Morgan Stanley appointed the highly-rated Manoj Prasad as executive director for its non-resident Indian and non-resident Pakistani high net worth business in the Gulf Region, according to market sources.

Mr Prasad will be based in Dubai and will report to Alex Classen, head of wealth management at Morgan Stanley. He is expected to start in the first week of June.

Mr Prasad was previously at Barclays Wealth where he was a director and market leader for the South Asia Business, based in Dubai.

It is understood that he was one of the key players for re-establishing Barclays Wealth in the region, with a particular focus on Gulf, Middle Eastern and East African clients.

Mr Prasad will build a team to service NRI and NRP clients in the Gulf region and sub continent at Morgan Stanley, according to sources.