Deutsche Bank Bucks Trend, Looks to Commodity Traders for Growth
- Bank sees contrarian Middle East strategy as key to profits
- Voide and Hoving appointed as co-CEOs for Middle East, Africa
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Deutsche Bank AG plans to boost lending to commodity traders in the Middle East, even as other banks back away after a spate of defaults in the industry, to help double the size of its regional business.
The German lender, which on Monday appointed Loic Voide and Kees Hoving as co-chief executive officers for the Middle East and Africa, is also targeting bond markets for growth in the region.