Deutsche Bank AG Abu Dhabi, the lender’s United Arab Emirates (UAE) banking arm has promoted longtime company mainstay, Thomas Haag, to the new role of general manager of the branch, Finance Magnates has learned.
In his new role as the general manager, Mr. Haag will be based out of Abu Dhabi, with his appointment paving the way for his inclusion into the group’s executive committee – his move is tendered with immediate effect. In this capacity, he will be responsible for the oversight and management of all the lender’s activities in the branch, whilst working in tandem with Deutsche Bank’s divisional and infrastructure business heads.
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Mr. Haag steps into the new position having spent the entirety of his professional career with Deutsche Bank. Prior to the promotion, he has held several roles in the lender’s Relationship Management, Branch Management, Corporate Banking, and Credit Risk Management divisions.
This includes stints as the group’s co-head and Chief Country Officer (CCO), Deutsche Bank Prague Branch in the Czech Republic for over five years as well as the CEO and CCO for Deutsche Bank’s Maltese operations between 2010 and 2014.
According to Deutsche Bank’s Ashok Aram, CEO, Europe, Middle East, and Africa (EMEA) in a recent statement on the appointment: “Thomas brings a depth of knowledge to this role developed over a long career with Deutsche Bank and the industry as a whole. We are pleased to appoint a senior individual from within Deutsche Bank to lead our Abu Dhabi branch.”
The appointment is the second announcement of Deutsche Bank’s to come out of the UAE this year, following the expansion of the group’s equity research operations in the Dubai International Financial Centre (DIFC). In mid January, a total of three new analysts joined Deutsche Bank’s EM Equity Research division, thereby concentrating their attention and focus on the lender’s research hub across EM in the DIFC.