Deutsche Bank has appointed Majid Jalfar to lead its operations in the United Arab Emirates, a key international market that the German bank aims to expand in the near future. Jalfar will assume the role of regional chief executive for the bank in the UAE, along with overseeing corporate banking activities in the Middle East and Africa.
According to the bank, Jalfar will direct the corporate strategy across the region from his base in Dubai, and he will also be responsible for Deutsche Bank’s local activities across all divisions and entities. He returns to the bank after serving at Etihad Credit Insurance since 2019. Jalfar previously spent nearly 14 years at Deutsche Bank and has also held positions at Emirates NBD and ABN AMRO.
Jalfar succeeds Kees Hofing, the former chief executive of Deutsche Bank in the UAE, who retired earlier this year. This move comes as Deutsche Bank seeks to strengthen its presence in the UAE, having recently acquired a new branch license in the financial hub of Abu Dhabi.