Deutsche loses five from shariah subsidiary
Five members of the Dar Al Istithmar Group (DI), a Middle East-based subsidiary of Deutsche Bank, have moved to BMB Group, the Brunei-based Islamic asset management provider. The five were the advisory team in the DI group, which also includes a committee of scholars set up a couple of years ago by Deutsche Bank.
The DI group work alongside Deutsche’s Middle East and North Africa (Mena) team, which is run by head of Mena structuring Geert Bossuyt and manufactures the bulk of the bank’s product for the region. Deutsche is currently hiring replacements for the five that have left, says a spokesperson for the bank.
Deutsche has a majority shareholding in DI. Its Mena team under Bossuyt includes five bankers dedicated to creating Middle East and Islamic products, with that number to double in the next 12
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