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Mon 16 Jul 2012 03:39 PM

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Ex-Deutsche Bank CEO joins NBK's advisory board

Josef Ackermann joins Kuwait's largest lender after retiring from Deutsche Bank in May

Ex-Deutsche Bank CEO joins NBK's advisory board
Josef Ackermann, the former chairman and CEO of Deutsche Bank, has joined the international advisory board of National Bank of Kuwait (Getty Images).

Josef Ackermann, the former chairman and CEO 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 and Mohamed El-Erian, the top executive at US bond firm PIMCO.

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