Deutsche Bank Brings Back Al Kishi as CEO for Mideast, Africa - Bloomberg

Deutsche Bank Brings Back Al Kishi as CEO for Mideast, Africa - Bloomberg

Deutsche Bank AG appointed Jamal Al Kishi for a second stint as chief executive officer for the Middle East and Africa, four years after the seasoned executive left to lead a regional bank.

Al Kishi will also assume the role of vice chairman for origination and advisory from April 1, according to a statement. He replaces Deutsche’s current head of the region, Kees Hoving, who will focus on his roles within the corporate bank and as chief country officer for the United Arab Emirates.

The Saudi national is returning to the German lender after spending four years as the head of Gulf International Bank in Bahrain. He was previously the regional CEO of Deutsche Bank between 2016 and 2020 and was also head of the group’s franchise in Saudi Arabia.

International banks including HSBC Holdings Plc and JPMorgan Chase & Co. have been beefing up their operations in the oil-rich Gulf region which is playing an increasingly important role on the global finance stage through its large corporates and sovereign entities.

Deutsche Bank has been rebuilding its Middle Eastern presence in recent years through several key hires from rival banks. Since 2010, the lender has more than doubled its capital commitment in the region.

“We see clear opportunity in key emerging markets like Middle East and Africa, and rising client demand as activity accelerates around its increasingly important growth corridors,” Alexander von zur Muehlen, Deutsche Bank’s CEO for Asia Pacific, Europe, the Middle East and Africa, and Germany, said in the statement.

Al Kishi will be based in Riyadh, though he will be spending significant time in Deutsche Bank’s Middle Eastern hub in Dubai. That underscores how some global banks are increasing their focus on Saudi Arabia. The kingdom has been putting pressure on international firms to move senior people or their regional headquarters to the capital.