While several of the world's most prominent banks are struggling to keep their heads above water as the financial crisis continues to claim victims, some are busy hunting for opportunities. Deutsche Bank, a global bank operating in 75 countries, continues to broaden its equities platform in the Middle East and North Africa (Mena) region to include trading, sales trading and equity capital markets, and has added senior bankers to its team.
Ahmed Beydoun, who served as head of Mena equities among other roles during a 12 year stint at UBS, will head the equities division for Deutsche Bank's Mena region based out of Dubai alongside Michael Majdalany, who also joins from UBS. "Deutsche Bank's commitment to the Mena region is strong and ongoing. We will continue to invest in strengthening our equities platform regionally by capitalising on our increased access through our on shore custody services and the increased opening up of the regional markets," said Salman Al Khalifa, Deutsche Bank's head of global markets sales for the Mena region.
Deutsche Bank has had a presence of nearly 50 years in the Mena region, having opened an office in Cairo in 1959. In 1999, Deustche Bank began to expand aggressively in the GCC, opening an office in Riyadh, Abu Dhabi and two offices in Dubai by 2006. shamdan@thenational.ae
