Deutsche Bank announced Tuesday the establishment of a corporate treasury sales platform, focused on foreign exchange, commodities and rates products for Saudi corporates, as part of its efforts to further expand its suite of services and products in the Kingdom. For that purpose, Deutsche Bank has recently appointed senior bankers to steer its efforts. Zaki Al Hashem, who joins from Saudi British Bank (SABB) where he was most recently Head of Treasury Risk Advisory - Eastern Province, will head the Bank's corporate flow sales in the Eastern and Western provinces. Al Hashem has 20 years of experience in the industry focused on rates and FX sales to Saudi corporates, sovereign-owned companies and family conglomerates. Ahmed Al Hadeed, who joins from Gulf International Bank in Riyadh, will focus on the Central province. Al Hadeed has 17 years of experience, mainly focused on FX-flow and structured sales to Saudi corporates. In addition, Mohammed Modaimeegh, joins the team from the treasury group investment division of Al-Inma Bank, as vice president. All three bankers will report to Haidar Bangash, HEAD of Flow Sales for the Gulf Cooperation Council (GCC) region at Deutsche Bank. Jamal Al Kishi, chief country officer and CEO of Deutsche Securities Saudi Arabia, said “Saudi Arabia is a key market for us in the region, and we are constantly looking into increasing our penetration by introducing access to additional products and services to certain sectors.” Salman Al Khalifa, head of Global Markets for the Middle East North Africa at Deutsche Bank, said “flow sales are central to our business in the region, and we aim with the introduction of this service into the Saudi market to meet the needs of our ever growing client base across in the Kingdom.”
