Qatar, the Persian Gulf country seeking to reduce its dependence on gas reserves, is weighing a potential stake in Morgan Stanley (MS)’s commodities unit, Prime Minister Sheikh Hamad bin Jassim Al Thani said.
“We need a few weeks to look at the details, but we are looking at it seriously,” he told reporters today in Doha in response to a question about Qatar’s interest.
Morgan Stanley has been considering options for its commodities business, run by Colin Bryce and Simon Greenshields, both 56, amid new rules and a pledge by Chief Executive Officer James Gorman to shrink the fixed-income and commodity trading division to help improve returns. The Volcker rule would impair banks’ ability to provide commodity-related hedging and financing services as currently written, Greenshields wrote in a comment letter to regulators in February.
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