June 14, 2017 / 5:44 PM / 2 months ago

Morgan Stanley CEO says Saudi Arabia could be 'major opportunity'

June 14 (Reuters) - Morgan Stanley CEO James Gorman said Saudi Arabia could be a "major opportunity" for the firm as the country unveiled plans for oil giant Saudi Aramco's $100 billion initial public offering and introduced a series of reforms to attract foreign capital in 2015.

Gorman, speaking at the bank's financials conference in New York, said he has personally been spending a significant amount of time in Saudi Arabia, as has President Colm Kelleher.

In May, several U.S.-based bank CEOs including Gorman, JPMorgan Chase & Co's Jamie Dimon and Citigroup Inc's Michael Corbat attended a business forum in Saudi Arabia.

Morgan Stanley already has a presence in Saudi Arabia, having set up an office in the region in 2007.

Reporting by Olivia Oran in New York; Editing by Cynthia Osterman

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