Aram leaves Abraaj Capital, returns to Deutsche Bank

Ashok Aram has left the biggest private equity firm in the Middle East, Abraaj Capital, to return to Deutsche Bank as chief executive for the Middle East and North Africa. Aram left Deutsche Bank in July 2009 to take up a position as managing director of Abraaj. He will remain on the company’s board.

PRESS RELEASE

Deutsche Bank on Tuesday named Ashok Aram, who rejoins the company after a stint at private equity firm Abraaj Capital, as new chief executive for the Middle East and North Africa. Ashok Aram left Deutsche Bank in July 2009 to join Abraaj Capital, the biggest Middle Eastern private equitybusiness, as a managing director. A spokeswoman for Abraaj said a representative of Deutsche, a shareholder in the firm, will continue to serve on the private equity company’s board.

Aram replaces Henry Azzam, who had been with Deutsche since 2007, and who will take up the role of the bank’s non-executive chairman for the region.

Aram will report to Juergen Fitschen, member of Deutsche’s management board.