Deutsche Bank has named Rafik Nayed as its Chief Country Officer (COO) for the UAE and Senior Executive Officer of its Dubai branch.
Nayed takes over from Nadeem Masud, who left the German bank at the end of 2015 after spending more than two decades, including 11 years in the Middle East, said the bank in a press release sent out to media.
Nayed will continue to serve as the Vice-chairman of Deutsche Bank for the Middle East & North Africa (MENA), a post he has been holding since he joined the lender in 2013.
Before joining Deutsche Bank, he was the interim CEO of the Libyan Investment Authority. He has several years of experience in the oil and gas and financial services industries.
“The appointment of Rafik Nayed reflects the depth of skilled and committed senior people working for Deutsche Bank who strongly believe in our future business success in the UAE,” said Ashok Aram, CEO of Deutsche Bank EMEA.
Masud has joined as founding partner and board member of Dubai-based private equity and advisory firm Aramis Partners, Reuters reported on January 6.