Banker Who Helped Revamp Iraqi Debt Leaves Deutsche Bank for IFC

(Bloomberg) -- Hussain Qaragholi, a managing director at Deutsche Bank AG, has left the German lender after more than seven years to join the World Bank’s private sector arm.     

Qaragholi, who helped restructure Iraq’s sovereign debt from the Saddam Hussein era while working at Citigroup Inc., has joined the International Finance Corp. as an adviser in the global upstream infrastructure team for the Middle East, Central Asia and Turkey. The IFC confirmed his hire.

Deutsche Bank and Qaragholi declined to comment. 

Qaragholi began his career at Merrill Lynch and joined Citigroup in 2003, not long after the U.S. invasion of Iraq. At Citigroup, he set up the Iraq desk that was involved in the $22 billion restructuring of the country’s debt and its debut $2.7 billion bond.

Remaining active in Iraq, he helped pave the way for Abu Dhabi Islamic Bank PJSC’s entry into the country. He’s also the founding board member and former president of the U.S. business council in Iraq. 

Qaragholi, who was most recently Deutsche Bank’s managing director working on corporate coverage in the Middle East, joined the lender as a senior originator in capital markets and treasury solutions, according to his LinkedIn profile. 

He also headed the lender’s corporate banking coverage for the Gulf, the Levant and regional sovereign wealth funds, it shows. During his time at Deutsche Bank, he was involved in raising debt for Iraq and Abu Dhabi among other deals.

©2022 Bloomberg L.P.