Michael Zaoui


MICHAEL ZAOUI, Founding Partner | Michael Zaoui is a former Vice Chairman of Morgan Stanley’s Institutional Securities Group. He began his career at Morgan Stanley in 1986 in New York. Michael led some of the Firm’s major transactions on both sides of the Atlantic, including several high profile hostile takeovers. He moved to London in 1990 where he was promoted to Managing Director and subsequently Co-Head of European Mergers and Acquisitions, leading Morgan Stanley M&A to the top of European league tables for several years. Later, Michael became a member of the elite Strategic Engagement Group, comprised of the world’s top investment bankers in the Firm, while still chairing European Mergers and Acquisitions.

He retired from the Firm in June 2008. Prior to Morgan Stanley, Michael was a management consultant with the former Mac Group in London, now part of Cap Gemini. His banking career began in 1978 with Banque Rothschild in Paris. Michael was educated in France, the UK and the US; he obtained a diploma from Institut d’Etudes Politiques de Paris, a Masters in Law from Université de Paris, a DESS doctoral degree in Law from Université Panthéon-Sorbonne, and an MBA from Harvard University. He also completed a post-graduate research program at The London School of Economics.

Michael sits on select corporate boards across Europe, notably GEDI Gruppo Editoriale S.p.A., owner of Italy’s newspapers, La Repubblica and La Stampa. Michael is actively involved with his alma mater, Harvard University, serving as a member of the Harvard Business School Board of Dean’s Advisors and of the Belfer International Council at the Kennedy School of Government. He was the founding Chairman of the HBS European Council. With a broad interest in the arts, Michael is a Governor of the Southbank Centre, which includes the Royal Festival Hall, the Queen Elizabeth Hall and the Hayward Gallery.

Yoel Zaoui


YOEL ZAOUI, Founding Partner | Yoel Zaoui is the former Co-Head of Global Mergers and Acquisitions at Goldman Sachs. He began his career at Goldman Sachs in 1988 in the Mergers and Acquisitions department in New York. He moved to London in 1989, and, over a 24-year career at the Firm, was responsible for some of Europe’s largest and more complicated corporate transactions in a period of unprecedented growth. Yoel was one of the Firm’s pioneers in its expansion and leadership in Investment Banking in Europe.

He became a Partner in 1998 and successively held the positions of Co-Head and Head of European Mergers and Acquisitions, and Co-Head and Head of European Investment Banking. Yoel was the first European investment banker to have joined the Firm’s select Management Committee, a position he held from 2008 until his retirement from the Firm in May 2012. Prior to Goldman Sachs, Yoel worked for three years at Arthur Andersen in Paris.

Yoel was educated in France and the US; he obtained a diploma from the Ecole des Hautes Etudes Commerciales in Paris, a DEA doctoral degree in Finance from Universite Paris-Dauphine and an MBA from Stanford University. Yoel continues to be actively involved with his alma mater, serving as a member of the HEC Fondation Board of Directors and of the Cercle des Grands Donateurs de la Fondation HEC.

Experience

Michael Zaoui

Sale of Cimpor Cimentos stake to Votorantim Cimentos

2010 — $1.3bn

Sale to Procter & Gamble

2009 — N.D.

Sale of controlling stake to Mercury Group

2008 — N.D.

Acquisition of Orascom cement assets 2007

$12.9bn

Defence against OMV

2007 ($15bn)

Sale of minority stake to Amorim

2007 — N.D.

Merger with Gaz de France

2007 — $39bn

Merger with Rodamco

2007 — $19.5bn

Sale to KKR-Permira

2007 — $7.7bn

Acquisition of BOC Group

2006 — $14.4bn

Acquisition of Emap

2006 — $0.7bn

Acquisition of Electrabel

2005 — $14.3bn

Merger with Fineco

2005 — $1.9bn

Acquisition of Vendex

2004 — $7.6bn

Sale to PPR

2004 — $2.8bn

Merger between various holding companies of Telecom Italia

2003 — $3.7bn

Sale of Northumbrian Water to investors' consortium

2003 — $3.4bn

Acquisition of Interpower from Enel

2003 — $0.9bn

Acquisition of Vivendi Universal Publishing

2002 — $1.7bn

Sale to Banca di Roma to create Capitalia

2002 — $1.6bn

Acquisition of Tractebel

1999 & 2002 — $8.4bn

Restructuring of PPR interest and settlement with LVMH

2001 — $0.9bn

Sale to Lafarge

2001 — $6.5bn

Merger with Carrefour

2000 — $15.8bn

Merger with Synthélabo

1999 — $11.2bn

Defence against LVMH and investment by PPR

1999 — $10.5bn

Defence against BNP

1999 — $19.6bn

Acquisition of Générale de Banque

1998 — $13bn

Defence and sale to Soméal and AGF

1997 — $8.5bn

Merger of Guinness and Grand Metropolitan to create Diageo

1997 — $18.3bn

Acquisition of SAFR from Swiss Re

1997 — $1bn

Merger with Crédit Local de France to create Dexia

1996 — $3.1bn

Private and Public Offerings by Fininvest

1995 — $1.2bn

Acquisition of CEAc from Fiat

1995 — $1.5bn

Acquisition of Victoire from Compagnie de Suez

1995 — $2.1bn

Sale of CBR to Heidelberger

1993 — $2.8bn

Merger of Combustion Engineering with Asea Brown Boveri

1990 — $1.8bn

Sale of Nabisco Europe to BSN (now Danone)

1989 — $2.5bn

Jointly

Mittal Steel merger with Arcelor to create Arcelor Mittal

2006 — $40bn

Aventis defence and sale to Sanofi

2004 — $69.3bn

Alcan acquisition of Pechiney

2003 — $7.1bn

Elf defence and sale to Total

2000 — $57.4bn

HSBC acquisition of CCF

2000 —$19.8bn

Merger with Lyonnaise des Eaux

1997 — $9bn

Crédit Agricole acquisition of Banque Indosuez from Suez

1996 — $2.3bn

Credito Romagnolo defence and sale to Credito Italiano

1995 — $2.4bn

Yoel Zaoui

Acquisition of 70% of International Power

2011 — $25bn

Acquisition of Endesa

2007 — $55bn

Acquisition of remaining 32.9% in Arcelor Brazil

2007 — $6bn

Acquisition of Fournier pharmaceutical operations

2005 — N.D.

Financial restructuring and refinancing

2003 — $1.6bn

Sale to Crédit Agricole

2003 — $20bn

Acquisition of 45% of Castorama, £2bn rights issue and demerger of KESA

2002 — $5bn

Sale to Italenergia

2001 — $5.6bn

Sale of Salins du Midi to UEI

2000 — $0.3bn

Defence and sale to Generali

1999 — $12.4bn

Acquisition of Banca Commerciale Italiana

1999 — $12.6b

Acquisition of Salomon

1998 — $1.4bn

IPO of Alstom

1998 — $4.2bn

Acquisition of remaining 76% of Natexis

1998 — $1bn

Merger into Compagnie Générale des Eaux

1998 — $7.5bn

Merger of B&Q and Castorama

1998 — $7.7bn

Sale of Catteau to Promodès

1998 — $0.4bn

Sale to GGT

1997 — N.D.

Acquisition of 24% of Natexis

1997 — $0.3bn

Sale of 30% to Compagnie Generale des Eaux through an asset swap

1997 — $1.8bn

Defence and sale to Auchan

1996 — $4bn

Sale to Bel

1996 — N.D.

Sale of animal health operations to Rhône-Poulenc

1995 — N.D.

Acquisition of remaining 55% stake in UPSA

1994 — $0.6bn

Valuation in connection with government privatisation

1994 — $2.2bn

Unwinding of cross - shareholdings with Renault

1994 — $1.4bn

Sale of European Assets to Newell

1994 — N.D.

Sale of Printemps to Groupe Pinault

92 — $0.8bn

Sale of Habitat to Ikea

1992 — N.D.

Sale of security division to Securitas

1991 — N.D.

Acquisition of a 45% stake in UPSA

1991 — $0.3bn

Defence and sale to Allied Lyons

1990 — $0.4bn

Defence and sale to Miller Taback

1990 — $0.4bn

Acquisition of Leroy Somer

1990 — $0.5bn

Acquisition of 15% of WCRS

1990 — N.D.

Defence and sale to LBO Group

1990 — N.D.

Merger with Smithkline to create SKB

1989 — $8.5bn

Sale to Framatome

1989 — $0.4bn