Deutsche Bank Seeks to Rebuild in Mideast After Cost Cutting - Bloomberg

Deutsche Bank Seeks to Rebuild in Mideast After Cost Cutting - Bloomberg:

Deutsche Bank AG aims to rebuild in the Middle East after years of cost cutting and has hired executives to help win debt and advisory deals.

“We have pivoted from a pure cost-control focus in 2018 to a controlled, disciplined growth phase in 2019,” Jamal Al Kishi, chief executive officer of the Middle East and Africa for the Frankfurt-based lender, said in an interview. “This year will be a better one in terms of both revenue and profitability, and you’ll see us on large financing deals and, hopefully, some M&A this year.”

Deutsche Bank recently hired Ibrahim Qasim from Doha-based QInvest LLC as head of structured solutions for the Middle East and North Africa, as well as Khalid Rashid from Standard Chartered Plc to take charge of capital markets. Last year, the bank brought in Asif Karmally to lead the financial solutions group in the United Arab Emirates, Oman and Pakistan.