The bank says the move is part its intention to pursue opportunities in the Middle East. Deutsche Bank highlighted the Saudi Arabia market, for example, when describing its strategy.

Deutsche Bank’s global vice chairman of private banking, Salman Madhi, is moving from London to the Middle East early next year, a sign of how the Germany-headquartered lender sees the Mideast region as a growth opportunity.

Madhi will be in the region from 2026, according to a memo seen by WealthBriefing. For the rest of 2025, Madhi will travel extensively across the Middle East to engage with senior clients. 

Saudi Arabia is a “particular focus,” according to the memo written by Claudio de Sanctis, head of private bank, and Julian Thurston, head of strategy, marketing and client management, Deutsche Private Bank.

“By basing one of our most senior leaders in the Middle East, we are underlining the importance of the Middle East to [the] private bank’s global strategy,” the memo said. 

“We have a strong physical presence in Saudi Arabia and huge opportunities to win across by collaborating and cross-selling all our multi-divisional capabilities, working closely with the investment bank, the corporate bank and DWS,” the memo said. “Riyadh, Jeddah, Abu Dhabi, Dubai, and Doha have become some of the most globally important centres of commerce, finance, and investment, and it is critical for us to be deeply connected and visible at the most senior levels in those places, delivering the full range of our services and solutions, across all the key pillars of Deutsche Bank.”

The bank said Madhi will continue to chair the Global Key Client Forum at the bank.

Earlier in 2025, the private bank set up investor trips to Saudi Arabia and the United Arab Emirates, which brought together global investors and regional stakeholders to explore opportunities across what Deutsche Bank called “priority sectors.”

“In particular, the Riyadh discussions underscored Saudi Arabia’s pivotal position as a hub for investment and long-term partnerships, highlighting the Kingdom’s importance to our growth story,” the memo said. “Salman’s relocation ensures we remain at the heart of these regional conversations and can translate them into long-term partnerships with our clients. We have also been investing substantially to build out front office coverage in the Middle East.”