Deutsche Bank announced today the establishment of a corporate treasury sales platform, focused on FX, commodities and rates products for Saudi corporates, as part of its efforts to further expand its suite of services and products in the Kingdom.
For that purpose, Deutsche Bank has recently appointed senior bankers to steer its efforts. Zaki Al Hashem, who joins from Saudi British Bank (SABB) where he was most recently Head of Treasury Risk Advisory - Eastern Province, will head the Bank’s corporate flow sales in the Eastern and Western provinces. Al Hashem has 20 years of experience in the industry focused on rates and FX sales to Saudi corporates, sovereign-owned companies and family conglomerates.
Ahmed Al Hadeed, who joins from Gulf International Bank in Riyadh, will focus on the Central province. Al Hadeed has 17 years of experience, mainly focused on FX-flow and structured sales to Saudi corporates. He most recently held the position of Head of FX and Sales.
In addition, Mohammed Modaimeegh, joins the team from the treasury group investment division of Al-Inma Bank, as Vice President. All three bankers will report to Haidar Bangash, Head of Flow Sales for the Gulf Cooperation Council (GCC) region at Deutsche Bank.
Saleh Romeih, Head of Central and Eastern Europe, Middle East and Africa and Co-Head of European Debt Capital Markets at Deutsche Bank, said “I am delighted to welcome Zaki, Ahmed and Mohammed to Deutsche Bank. I am certain that Zaki and Ahmed’s extensive experience will play a central role in making our efforts a success.”
Jamal Al Kishi, Chief Country Officer and CEO of Deutsche Securities Saudi Arabia said, “Saudi Arabia is a key market for us in the
region, and we are constantly looking into increasing our penetration by introducing access to additional products and services to certain sectors.”
Salman Al Khalifa, Head of Global Markets for the Middle East North Africa at Deutsche Bank said “Flow sales are central to our business in the region, and we aim with the introduction of this service into the Saudi market to meet the needs of our ever growing client base across the corporate sector in the Kingdom.”
Deutsche Bank established its Riyadh branch in 2006, and then soon after established a securities subsidiary, Deutsche Securities Saudi Arabia. The Bank offers the full suite of investment banking services in the Kingdom.