Deutsche Bank appoints Riyadh GM

Deutsche Bank is targeting more deals in Saudi Arabia. (Reuters)
Updated 18 September 2018
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Deutsche Bank appoints Riyadh GM

  • German banking titan expects more deal flow from Kingdom
  • Deutsche Bank established base in Saudi Arabia in 2006

LONDON: Deutsche Bank has appointed Mohammed Alajmi as general manager of Deutsche Bank Riyadh Branch in Saudi Arabia.
He will have oversight of the bank’s business regulated by the Saudi Arabian Monetary Authority (SAMA), Deutsche Bank said in a statement.
The German banking giant originally established its Riyadh branch in 2006.
Alajmi joined Deutsche Bank in 2012 after more than a decade of working at local financial institutions in the Kingdom.
He was appointed chief operating officer in June 2015 overseeing the bank’s activities across all businesses and infrastructure functions.
The group expects to boost regional hiring this year, driven by expected corporate bond sales and initial public offerings, Bloomberg reported in February.


Nissan panel to recommend outside director to chair board: report

Updated 17 February 2019
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Nissan panel to recommend outside director to chair board: report

  • Under Nissan’s current corporate charter, the position of board chair is automatically appointed to head the company board
  • Former Chairman Carlos Ghosn had filled both roles prior to his arrest in November

TOKYO: A Nissan Motor governance committee will recommend the appointment of an external director as board chairman, a role distinct from company chairman, in a move to decentralize power at the top level, the Nikkei business daily reported on Sunday.
Under Nissan’s current corporate charter, the position of board chair is automatically appointed to head the company board, the Nikkei said citing a source. Former Chairman Carlos Ghosn had filled both roles prior to his arrest in November for under-reporting his salary for eight years.
The issue of Nissan’s chairmanship is now particularly important after the Japanese firm identified the concentration of power in one executive as one of the reasons Ghosn was able to carry out his alleged fiscal misconduct.
Speculation has swirled about whether the newly appointed chairman of France’s Renault, Jean-Dominique Senard, would assume the chairmanship of the Japanese automaker.
The Nikkei report comes after the governance committee said in a statement that the separation between operation and oversight was among topics discussed on Friday at the committee’s third meeting since it was formed in December after Ghosn’s arrest.
The panel, comprising three Nissan external board directors and four third-party members, is scheduled to make recommendations to Nissan’s board in March on how to tighten lax governance and approval processes for matters including director compensation and chairman selection.
A spokeswoman for the committee said it could not comment on potential recommendations before they are submitted to the Nissan board. Nissan did not immediately reply to emailed request for comment.