The position is a new one, and was created in response to the perceived opportunities for growth in the region, a bank spokesperson said.
In a statement, the bank said Nayed will be a member of its MENA executive committee, and will report to Ashok Aram, Deutsche Bank’s chief executive officer for the Middle East and North Africa. He will be based in Dubai.
Aram said Nayed’s experience in the financial, sovereign wealth management and energy sectors, coupled with his “deep understanding of the region’s economic and social opportunities, and a broad relationship network”, would “positively contribute” to the development of the Deutsche Bank franchise across all its businesses in the MENA region.
Prior to his role with the Libyan Investment Authority, Nayed had been head of strategy and business development for Oilinvest Netherlands, as well as head of utilities and infrastructure at Amwal Investment Bank in Qatar.
Nayed had been appointed to head up Libya’s sovereign wealth fund in 2011, after the country’s long-time ruler, Colonel Muammar Gaddafi, was ousted in an uprising.