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Deutsche Bank appoints ex-Abraaj MD as new Mideast CEO
A representative of Deutsche will continue to serve on the private equity company's board.
September 21, 2010 1:12 by Reuters
Deutsche Bank on Tuesday named Ashok Aram, who rejoins the company after a stint at private equity firm Abraaj Capital, as new chief executive for the Middle East and North Africa. Ashok Aram left Deutsche Bank in July 2009 to join Abraaj Capital, the biggest Middle Eastern private equity business, as a managing director. A spokeswoman for Abraaj said a representative of Deutsche, a shareholder in the firm, will continue to serve on the private equity company’s board.
Aram replaces Henry Azzam, who had been with Deutsche since 2007, and who will take up the role of the bank’s non-executive chairman for the region.
Aram will report to Juergen Fitschen, member of Deutsche’s management board.
(Reporting by Nicolas Parasie; Editing by Jason Benham)