The chairman of Deutsche Bank’s Middle East and North Africa division has stepped down, the German lender confirmed Sunday.
Henry Azzam, one of the region’s most high profile banking figures, will remain with the company as an adviser, but will no longer head the firm’s regional operations.
"We confirm that Dr Henry Azzam has stepped down as non-executive chairman for MENA,” a spokesman from the bank said. “But he will remain with the bank as an adviser.”
The spokesperson declined to comment on whether Azzam had been replaced.
Azzam was appointed non-executive chairman for the MENA region in 2010. Prior to this, he held the position of CEO of the regional business for three years.