FRANKFURT (Thomson Financial) - Deutsche Bank AG plans to double the number of its employees in the Middle East in the next two years, global head of regional management Juergen Fitschen told daily Die Welt.
'We expect the potential yield of the Middle East region to reach the same level as that of a large continent such as South America,' Fitschen said.
'I estimate the Gulf Region's investment volume will amount to more than 1,500 bln usd in the next four to five years. This presents great opportunities for us.'
Deutsche Bank wants to sell products for both private wealth management, and corporate and merger financing in the region, Fitschen said, but added that international competition is strong.
Germany's largest bank currently has 170 employees in six countries in the Middle East, according to the report. judith.csaba@thomson.com jcs/kf1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
'We expect the potential yield of the Middle East region to reach the same level as that of a large continent such as South America,' Fitschen said.
'I estimate the Gulf Region's investment volume will amount to more than 1,500 bln usd in the next four to five years. This presents great opportunities for us.'
Deutsche Bank wants to sell products for both private wealth management, and corporate and merger financing in the region, Fitschen said, but added that international competition is strong.
Germany's largest bank currently has 170 employees in six countries in the Middle East, according to the report. judith.csaba@thomson.com jcs/kf1 COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.