SoftBank Vision Fund to appoint ex-Deutsche exec Rahman to head Middle East ops

Dubai, UAE. Photo by David Rodrigo on Unsplash

SoftBank Group Corp. is hiring former Deutsche Bank AG executive Faisal Rahman to head operations in the Middle East for the division that manages its almost $100 billion fund, according to people familiar with the matter.

In the new role at SoftBank Investment Advisors, Rahman will help manage relations with the Vision Fund’s two key backers — Saudi Arabia’s Public Investment Fund and Abu Dhabi wealth fund Mubadala Investment Co., the people said, asking not to be identified as the matter is confidential. Among other things, he will help the fund set up branches for its portfolio companies in the region, they said.

A representative for SoftBank declined to comment. Rahman declined to comment.

The SoftBank Vision Fund, run by billionaire Masayoshi Son, is the world’s biggest pool of money focused on technology, with most contributions coming from sovereign wealth funds in the Middle East. The capital has so far been deployed on investments ranging from ride-hailing service Uber Technologies Inc. to chipmaker Nvidia Corp., while spanning businesses engaged in building satellites and making robots to even kale farming.

Rahman, who was co-head of corporate and investment banking for Central and Eastern Europe, Middle East and Africa at Deutsche Bank, has left the lender after almost 18 years, people familiar with the matter said earlier on Wednesday. He had become a managing director in 2012, according to his LinkedIn profile.

The senior executive’s departure marks a series of exits from Deutsche Bank’s investment-banking unit as new Chief Executive Officer Christian Sewing seeks to cut costs and refocus on the lender’s European base.

Read more: Deutsche Bank Says 3 Senior Investment Bankers to Leave Firm

In one of its latest investments, Vision Fund agreed to inject $2.25 billion into General Motors Co.’s autonomous-vehicle unit last month, valuing the division at $11.5 billion.

Bloomberg

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.