Ex-deutsche CEO Ackermann joins Kuwait NBK's advisory board

Ex-deutsche CEO Ackermann joins Kuwait NBK’s advisory board

Josef Ackermann, the former chairman and chief executive of Deutsche Bank, has joined the international advisory board of National Bank of Kuwait, the Gulf state's largest lender said on Monday.

July 16, 2012 4:53 by Reuters

Josef Ackermann, the former chairman and chief executive of Deutsche Bank, has joined the international advisory board of National Bank of Kuwait, the Gulf state’s largest lender said on Monday.

Ackermann retired in May after more than 10 years at Deutsche Bank’s helm. A Swiss national, Ackermann was the first non-German to head up the flagship lender and has been credited with transforming the bank into a major global player.

NBK is Kuwait’s largest listed company by market capitalisation and ranks among the top regional lenders in terms of assets and profits.

Other members on its international advisory panel includes former British Prime Minister John Major andMohamed El-Erian, the top executive at U.S. bond firm PIMCO.

(Writing by Sylvia Westall in Baghdad; Editing by Dinesh Nair)