Deutsche Bank is set to name Nadeem Masud, head of its corporate and investment banking (CIB) in Dubai, as the new country head for United Arab Emirates after the resignation of top banker Salman al-Khalifa earlier this month, two people familiar with the matter said on Sunday.
Deutsche Bank confirmed Masud's appointment as chief country officer for the UAE and general manager of Deutsche Bank AG Dubai (DIFC) branch, and said in a statement that he would continue as regional head of CIB coverage.
Bahraini-born Khalifa, who is leaving the German lender at the end of the year, will move to the Gulf island kingdom to pursue a career outside the investment banking industry, the sources said.
At Deutsche, Khalifa was also head of global markets for Middle East North Africa (MENA). That role is unlikely to be replaced by the bank and will instead be split among separate teams, the first source said.