Top banks eyeing sovereign wealth funds

For all their controversy, the top investment banks sense that sovereign wealth funds represent a huge opportunity. We're talking trillions of dollars that must be deployed. Several top banks are moving to get their piece of the pie. Lehman Brothers just appointed Makram Azar to head their new SWF team, which will be based in Dubai, notes Financial News Online. His job will be to interest these funds in the full array of Lehman Brothers products. Morgan Stanley has tapped three senior bankers to cover Middle Eastern funds as part of a larger effort to generate business in the region. We'll likely see other banks follow suit.  

For more:
- here's the Financial News Online article

Related Articles:
Wachovia raising $7 billion
More on the global worry over SWFs
Expect more sovereign wealth flow into financial firms