Deutsche Bank appoints Chief Executive Officer, for The Middle East

Mr Borda will take on this newly created role having previously had responsibility for Deutsche Bank in Asia Pacific, as Chief Executive, for the last three years. Mr Borda will be based in Dubai.

In announcing the appointment, Juergen Fitschen, Member of Deutsche Bank's Group Executive Committee and responsible for Regional Management, said, "The addition of this senior management role in the Middle East and North Africa reflects the significant level of business momentum and opportunity we see in the region. There is considerable potential to develop business relationships from the Middle East and North Africa and strong interest in achieving greater connectivity with Europe and Asia. Deutsche Bank intends to promote a material increase in business and investment flow between these regions. Ken has done an outstanding job in co-coordinating the development of our business platform in Asia and he will now use his skills and experience to develop our franchise throughout the Middle East and North Africa."

Mr Borda will report to Mr Fitschen and will continue to also hold the position of Chairman of Deutsche Bank, Asia Pacific (ex Japan).

With offices throughout the region, including Dubai, Bahrain, Egypt and UAE, as well as dedicated additional resources in Frankfurt, London and New York, Deutsche Bank is active in Private Wealth Management, Global Banking and Global Markets activities throughout the Middle East and North Africa.