Dubai / Frankfurt am Main, 21 September 2010 - Deutsche Bank today announced the appointment of Ashok Aram, as its Chief Executive Officer for the Middle East and North Africa (MENA), a position held since 2007 by Henry Azzam, who will become the bank´s non-executive Chairman for the MENA region.
In his new role, Aram will have responsibility for development of the bank´s MENA franchise across all businesses, management of client relationships, and the implementation of the region´s growth strategy while safeguarding risk and capital. He will chair the bank´s MENA Executive Committee and will be responsible for the maintenance of corporate governance structure. The appointment takes effect as of today and Aram will report into Jürgen Fitschen, Member of the Management Board of Deutsche Bank.
Jürgen Fitschen said: "Ashok´s record of achievement in our corporate and investment banking franchise globally gives us confidence that he will bring about further growth for the bank in the MENA region. We continue to invest in our global franchise and our leading presence in the Middle East region to serve the increasingly international and sophisticated demands of our clients."
As the bank´s non-executive Chairman in the region, Dr. Azzam is entrusted with maintaining close relationships with government bodies and regulators. In addition, he will assist with fostering business links, increasing the awareness of Deutsche Bank’s activities in the region and globally, and representing the bank at conferences and international financial bodies.
Fitschen also said: "We are pleased that Henry will continue to work with us and serve clients as a non-executive Chairman of the bank in the MENA region and support Ashok in his new responsibilities. Henry played an instrumental role in growing our franchise and we have seen our suite of services and our presence in the region expand under his leadership.”
In the MENA region, Deutsche Bank employs close to 200 people and is one of the largest investment banking institutions. The bank offers the full range of investment banking services, private wealth management, asset management and global transaction banking services.
For further information, please call:
Deutsche Bank AG
Press & Media Relations
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