Deutsche Bank appoints Nadeem Masud as Chief Country Officer for the United Arab Emirates

Dubai - 28 November 2011

Deutsche Bank today announced the appointment of Nadeem Masud as Chief Country Officer (CCO) for the United Arab Emirates and General Manager of Deutsche Bank AG Dubai (DIFC) Branch. Nadeem Masud is taking over responsibility from Salman Al Khalifa who will be leaving Deutsche Bank at the end of the year to pursue opportunities outside the investment banking industry. Nadeem Masud continues to be the Head of Corporate and Investment Bank (CIB) Coverage for Middle East North Africa (MENA).

Ashok Aram, CEO of Deutsche Bank for the Middle East & North Africa said: "Deutsche Bank is deeply committed to the United Arab Emirates (UAE) and the MENA region. The appointment of Nadeem Masud reflects the depth of skilled and committed people working for Deutsche Bank who strongly believe in our future business success in the UAE. The UAE continue to play an important role in our future MENA business composition. Nadeem's appointment is subject to Regulatory approval.”

Nadeem Masud has been with Deutsche Bank for 14 years joining the Relative Value Group (RVG Structuring) in 1997 after receiving an MBA from Wharton Graduate Business School. From 2002 to 2004 he was Head of Fund Derivatives for Global Markets based in London. Nadeem moved to Dubai in 2004 as Local Head of Fixed Income Sales and currently heads the CIB Coverage Group for the Middle East and North Africa with a focus on top tier Sovereigns, Sovereign Wealth Funds and Corporates for their financing, Asset and Liability Management and other strategic initiatives.

Aram also thanked Salman Alkhalifa: "Salman has been one of the architects of Deutsche Bank's successful build-out in MENA. His contribution over the last four years was an important factor in Deutsche Bank becoming the leading international investment bank in this strategically important region. Salman expressed his interest in leaving the industry to pursue other opportunities, but agreed to stay on until year-end to see through some important initiatives which would position our platform for further expansion. Salman leaves behind a strong and stable platform which is poised for future growth. We wish Salman great success with his future, and look forward to maintaining a close personal and professional friendship in the years to come'.

Al-Khalifa joined Deutsche Bank in 2008 as Head of Sales for the bank's Global Markets business in MENA. In 2009, he was appointed Head of Global Markets MENA, and in 2011 was given the additional responsibilities of Chief Country Officer - UAE and General Manager of Deutsche Bank AG Dubai (DIFC) Branch.

The appointment of Nadeem Masud will become effective January 1st, 2012.

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