Deutsche Bank announced yesterday that it is moving ahead with the establishment of a Middle East research platform, which is expected to be the largest facility of its kind in the region.
Spearheading Deutsche Bank's efforts will be Pascal Moura, Head of Research for Emerging Markets, who will be relocating to Dubai to oversee the two-year long establishment process. The facility will focus on 80 leading blue-chip regional stocks across all sectors as well as supporting Deutsche Bank Global Research.
Ricardo Honegger, Chief Country Officer for Deutsche Bank in the UAE, said: "Deutsche Bank's commitment to the region is unequivocal.
"We are constructing the Mena Research platform to ensure the induction of the broadest base of analyst experience, across both mature and emerging markets, in an effort to ensure real value addition not only to our clients but also to the regional markets."
Deutsche Bank's commitment to establish the research unit was made during a recent visit to the region by Dr Josef Ackermann, Chairman of Deutsche Bank's Management Board and the Group's Executive Committee. Moura said: "Deutsche Bank forecasts GDP growth in the region of 7-8 per cent per annum for the foreseeable future and we expect a growing interest from asset managers across the globe.
"We want to make sure that we offer to investors the quality and depth of coverage that we have in other regions in order to support them in their quest to generate Alpha."
Moura joined Deutsche Bank in 2002. Prior to heading the bank's research into emerging markets, Moura was Head of European Mid-Cap Research, and before that he was Head of Swiss Research for the Deutsche.