Deutsche Bank has appointed Rafik Nayed as the chief country officer (CCO) for the United Arab Emirates and senior executive officer of Deutsche Bank AG Dubai (DIFC) Branch.

Effective immediately, Nayed takes over from Nadeem Masud who left Deutsche Bank at the end of 2015 to pursue opportunities outside the banking industry.

Nayed continues to serve as the vice chairman of Deutsche Bank for the Middle East & North Africa (Mena).

Ashok Aram, CEO of Deutsche Bank EMEA, said: "Deutsche Bank is deeply committed to the United Arab Emirates (UAE) and the Middle East & Africa (MEA) region. The appointment of Rafik Nayed reflects the depth of skilled and committed senior people working for Deutsche Bank who strongly believe in our future business success in the UAE. The UAE plays an important role in our future MEA business, which continues to offer growth potential for the Bank.”

With over 23 years experience in the financial services industry, Nayed joined Deutsche Bank in 2013 as vice chairman of the Mena region. Before joining Deutsche Bank, he was the interim chief executive officer of the Libyan Investment Authority and prior to that he worked for many years in the oil and gas and financial services industries in a variety of senior positions.  

Aram also thanked Masud and said: "Nadeem has been instrumental in Deutsche Bank's successful build-out in the region. His contribution over the last 18 years with Deutsche Bank and for the last four years as chief country officer for the UAE was an important factor in Deutsche Bank becoming a leading international investment bank in this region. We wish Nadeem success with his future.” - TradeArabia News Service