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>>Ex-Morgan Stanley Banker Zaoui Said to Weigh Starting Own Firm

By Jacqueline Simmons

Feb. 8 (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.

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. Zaoui’s younger brother Yoel runs European investment banking at Goldman Sachs Group Inc.

Zaoui, who has not worked at a major financial services firm since leaving Morgan Stanley, is currently 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.

Lafarge spokeswoman Claire Mathieu declined to comment 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 [e-mail]