Key senior management changes announced by the German-headquartered global investment bank, Deutsche Bank has today issued the appointment of Jamal Al Kishi as CEO of the Middle East and Africa Region with immediate effect, according to a company press release. It also stated that Salah Jaidah will be promoted to Chairman (from vice-chairman) of the Middle East and North Africa (MENA) region.
Mr. Al Kishi replaces Ashok Aram who will be moving to Frankfurt to take on the role of EMEA CEO. This includes the bank’s European business operation, excluding Germany and the U.K., as well as the Middle East and Africa (MEA). For Deutsche Bank, the MEA is part of the wider EMEA (Europe Middle East and Africa) region, with the MEA rolling up into it in terms of CEO oversight.
The bank includes Pakistan within its definition of the Middle East as well (although it’s in Asia – technically), as it is able to cater to it from within its several operations within the Gulf, including Dubai, that are in close proximity. In addition, it is one of the largest providers in Johannesburg, as explained to Finance Magnates by people close to the company, and thus Africa is a key market for it.
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The Middle East and Africa remains an important part of the bank’s global network
Al Kishi – who studied in the U.S. and has a long career in banking and in the Middle East- will remain CEO of Deutsche Securities Saudi Arabia (subject to regulatory approval), a role he’s held since joining in 2007. He will also chair the MEA region executive committee, according to the update.
Salah Jaidah was CEO of Qatar Islamic Bank (QIB) since 2005, before joining Deutsche Bank in 2011 as Chief Country Officer for Qatar, and Vice Chairman for the MENA region. He was described as a long standing industry person, and studied at Oxford business school.
Mr. Aram said in the announcement: “The Middle East and Africa remains an important part of the bank’s global network with potential for significant growth aligned with the execution of Strategy 2020. The new regional management leadership team overseeing Deutsche Bank’s Middle East and Africa business operations, promoted from within our existing pool of strong, local talent, will ensure clients in the Middle East and Africa retain access to the bank’s global expertise.”