Deutsche Securities Saudi Arabia appoints Dr. Melhem Melhem as Chief Economist

Riyadh - 23 March 2015

Deutsche Securities Saudi Arabia (“DSSA”), a CMA licensed securities firm wholly owned by Deutsche Bank AG, announced today the appointment of Dr. Melhem Melhem as its Chief Economist Saudi Arabia. Dr Melhem will be based in Riyadh, Saudi Arabia and report to Jamal Al Kishi, Chief Executive Officer DSSA.

Dr. Melhem joined DSSA on December 1, 2014. Prior to joining, his work experience included a 27-year career at the International Monetary Fund (“IMF”) where he held various positions including Senior Advisor to the Saudi Arabian Executive Director.

Utilising his rich experience and intimate knowledge of the Saudi economy, Dr. Melhem will cover the Saudi economy and will provide advice on related matters to DSSA's global and local clients.

Jamal Al Kishi, Chief Executive Officer DSSA said: “We are delighted to bring the expertise and informed perspective of an accomplished economist of Dr. Melhem's caliber into Saudi Arabia. Our senior managers along with Saudi and global clients will derive significant value from his knowledge and analysis."

Ashok Aram, Chief Executive Officer Middle East and Africa at Deutsche Bank, added: "The deployment of such a senior economist is further evidence of Deutsche Bank Group's commitment to Saudi Arabia and its belief in the great potential of the Saudi market."

Dr. Melhem holds a PhD in Economics and International Finance from New York University.

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