(Bloomberg) -- Deutsche Bank AG’s Ahmed Beydoun, who leads the firm’s institutional client coverage in the Middle East, is planning to leave after 16 years.
Beydoun, who’s based in Dubai, is set to depart at the end of the year, according to a memo seen by Bloomberg News. As regional head of the institutional client group and global emerging markets for the German firm’s investment bank, he oversees relationships with sovereign wealth funds and other financial institutions.
A representative for the bank declined to comment.
The Middle East is home to sovereign funds that control close to $4 trillion in assets and have been active dealmakers. It also remains a hub for new share sales and has become a magnet for wealthy individuals from around the world.
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Germany’s largest lender has been ramping up hiring in the Middle East across wealth management and investment banking. Chief Executive Christian Sewing has previously said he sees opportunities to grow in Asia and the Gulf, amid a lackluster economy in the firm’s home market.
Beydoun joined Deutsche Bank in 2008 as head of equities and has previously worked at UBS Group AG.
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