Deutsche Bank named top FX bank in Mideast
Dubai, May 19, 2013
Deutsche Bank has been named the leading forex (FX) bank in the Middle East with 16.15 per cent of overall market share.
This is attributed to the significant investment Deutsche Bank made in upgrading its pricing and distribution systems as well as the continued focus on providing innovative solutions to clients’ problems.
Overall Deutsche Bank has been ranked No.1 in Euromoney’s annual foreign exchange survey for the ninth consecutive year with 15.18 per cent of overall market share. The industry benchmark survey result demonstrates the bank’s consistent delivery of best-in-class products and client service.
Ashok Aram, Deutsche Bank’s chief executive officer for Mena region said, "This result reflects Deutsche bank’s strong commitment to the FX business in the Middle East. We have experienced record volumes in FX quarter upon quarter, despite a much less volatile period in the markets for much of the past year."
Deutsche bank’s global head of Foreign Exchange, Kevin Rodgers said, "A great deal of this year’s success can be attributed to the significant investment that we have made in upgrading all our pricing and distribution systems as well as the continued focus on providing solutions to our clients’ problems. In a time of change for the FX industry, Deutsche is investing in its FX business in order to lead the industry to the benefit of our clients." – TradeArabia News Service