Saudi Aramco picks Israel-linked banker

‘Saudi Arabian Oil Co. (Aramco) has chosen the New York-based boutique investment bank Moelis & Co to advise on its initial public offering, reports say.
The sale of the world’s biggest oil company is the latest of several moves by the Saudi government to generate revenues in the face of a gaping budget deficit.
Aramco had invited banks in January to pitch for an advisory position on what is expected to be the world’s biggest initial public offering.
JPMorgan, which has been Aramco’s commercial banker for years, and Michael Klein, a former star Citigroup banker, had been advising Saudi authorities on the IPO.’
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