Deutsche Bank hires MENA asset management co-heads

Fahad Albader and Adel Dagher appointed as company eyes business from SWFs, family firms in region

Deutsche Bank has appointed Fahad Albader and Adel Dagher as co-heads of its asset and wealth management coverage for the Middle East and North Africa (MENA), eyeing business from sovereign wealth funds and family firms in the region.

Middle Eastern sovereign wealth funds, including the likes of Abu Dhabi Investment Authority (ADIA) and Kuwait Investment Authority (KIA), hold about $2 trillion in assets, luring large global banks and asset management firms to the region who are seeking a share of the business.

"With their expertise and deep knowledge, Fahad and Adel will help sovereign wealth funds and key institutional clients access Deutsche Bank's global solutions in the institutional asset management area," Ashok Aram, the German lender's MENA Chief Executive, said in a statement on Wednesday.

Dagher is joining Deutsche Bank after 12 years with hedge fund firm Man Group where he focused on alternative investments, the bank said, while Albader was previously at Deutsche's corporate banking and securities division, heading coverage of Kuwait.

Both executives will be based in Dubai and report to Peter Roemer, head of Deustche's global client group for Europe, Middle East and Africa.

Deutsche Bank's asset and wealth management division had assets under management of 946 billion euros ($1.30 trillion) as at June 30, 2013.

Related:
Companies
Join the Discussion

Disclaimer:The view expressed here by our readers are not necessarily shared by Arabian Business, its employees, sponsors or its advertisers.

NOTE: Comments posted on arabianbusiness.com may be printed in the magazine Arabian Business

Please post responsibly. Commenter Rules

  • No comments yet, be the first!

All comments are subject to approval before appearing

Further reading

Features & Analysis
Trading bricks: The growing popularity of real estate investment trusts in the Gulf

Trading bricks: The growing popularity of real estate investment trusts in the Gulf

Investor interest in real estate investment trusts (REITs) has...

First bank merger in 20 years sets Saudi Arabia up for more deals

First bank merger in 20 years sets Saudi Arabia up for more deals

Q&A look at what the planned merger of HSBC and RBS’s Saudi ventures...

A natural move: How Dubai Chamber is strengthening its ties in Latin America

A natural move: How Dubai Chamber is strengthening its ties in Latin America

With vast resources and more than half-a-billion people, the...

Most Discussed
sponsoredTracking