Font Size

- Aa +

Sun 10 Jun 2012 08:56 AM

Font Size

- Aa +

Most powerful Arab bankers and financiers: in pictures

The men and women making a difference in Arab banking and finance

Most powerful Arab bankers and financiers: in pictures
1. Prince Alwaleed bin Talal Al Saud\n\nEight years of the Arabian Business Power List, and eight years in the top slot for Prince Alwaleed. Profits at his Kingdom Holding Company for Q1 this year surged 11.3% to $26.8m, boosted by the sales of its stake in Toronto’s Four Seasons Hotel and its share of the Oasis Kingdom project in Riyadh.\n\nThe group is one of world’s largest and most diversified private investment companies with holdings in a large number of Saudi Arabian, Middle Eastern and international companies. Today, Kingdom Holding Company, of which he owns 95 percent, covers 39 investments in seven sectors. It is the largest foreign investor in the US, with stakes in the likes of News Corporation, Time Warner, Apple and Citi. Regionally, major players from Samba Financial Group to Savola all have the KHC stamp on their shareholdings.\n\nBut despite so much success, there is no sign of the prince slowing down, with the last 12 months witnessing phenomenal growth. He announced plans to construct the world’s tallest building, the Kingdom Tower, in Jeddah. In the next year, he will also roll out his own 24-hour news channle, Alarab, based in Bahrain, which will directly compete with the likes of Al Jazeera and Sky News Arabia. And he continues to be one of the globe’s most prolific philanthropists, having donated more than $3bn to good causes.
Most powerful Arab bankers and financiers: in pictures
2. Sheikh Ahmed bin Saeed Al Maktoum\n\nOver the past 25 years HH Sheikh Ahmed Bin Saeed Al Maktoum has been at the forefront of Dubai’s remarkable economic development spearheading the successful expansion of aviation and, more recently, formulating economic, investment and fiscal policies and strategies in support of the emirate’s overarching vision.\n\nIn his role as chairman of Emirates Airline, few can deny his staggering influence. Emirates has over 170 aircraft, and flies to more than 120 destinations in over 70 countries. He has managed to deliver a profit for 24 years in succession, with the 2011 figures showing income of $409m.\n\nBut the airline is only part of his story. He holds a number of government positions and plays an increasingly pivotal role in leading the emirate’s finance and energy sectors. Sheikh Ahmed is also the chairman of Dubai World, Emirates NBD and the emirate’s Supreme Fiscal Committee. Amongst his many other roles are the deputy chairmanship of the Dubai Executive Council, and he also heads up the Dubai Power & Energy Committee.
Most powerful Arab bankers and financiers: in pictures
10 Sheikha Lubna Al Qasimi\n\nSheikha Lubna’s background lies in IT; she won plaudits for developing a system that slashed cargo turnaround times at Dubai airport, and in 2000 founded Tejari, the Middle East’s first business-to-business online marketplace.\n\nThe firm, which is now one of Dubai World’s most successful units, has franchises across the Middle East and was initially funded by HH Sheikh Mohammed Bin Rashid Al Maktoum, ruler of Dubai, and prime minister of the UAE. Sheikha Lubna was appointed to her first ministerial post in November 2004 – becoming Minister of Economy and Planning, before taking the Minister of Foreign Trade brief afterwards In January, Sheikha Lubna met with US Secretary of State Hillary Clinton to discuss enhanced trade ties. The Gulf country is already the largest export market for US goods in the Middle East. The minister is also currently working hard to sign off the US Middle East Free Trade Area by next year. But amidst her whirlwind tours around the world, Sheikha Lubna has still managed to retain her own business interests. The minister also sits on the board of directors at the Dubai Chamber for Commerce and Industry.
Most powerful Arab bankers and financiers: in pictures
20. Khaldoon Al Mubarak\n\nA trusted aide to the Crown Prince of the UAE, HH Mohammed Bin Zayed Al Nahyan, Khaldoon Al Mubarak — CEO of Mubadala — has masterminded many of Abu Dhabi’s strategic investments and key development projects.\n\nEducated in the US, a graduate of Tufts University, Al Mubarak sits on a number of boards, including First Gulf Bank, Aldar Properties, the Abu Dhabi Executive Council and he is chairman of the Executive Affairs committee. Worldwide, he is of course best known as the chairman of Manchester City Football Club since the club was bought by the Abu Dhabi United Group in 2008.\n\nLast month, the club secured its first title in the top flight of English football for 44 years, after beating Queens Park Rangers with an injury-time goal. It meant that the near $1billion of investment in the club that Mubarak has approved now seems very much worthwhile, and Mubarak himself has become one of the most popular figures in the city as a result.
Most powerful Arab bankers and financiers: in pictures
30. Ibrahim Dabdoub\n\nThe Palestine-born financier has been at the helm of National Bank of Kuwait as CEO since 1983, and is now one of the most widely admired bankers in the Middle East. He first joined NBK in 1961 and saw his career progress from Head of Credit in 1969 to the CEO position in 1983 and a Group CEO in 2008.\n\nIn addition to his NBK role, Dabdoub is also a board member of the Centre for Contemporary Arab Studies at Georgetown University; the International Institute of Finance (IIF); he sits on the Board of Trustees of the American University of Beirut (AUB) and he is a member of the advisory council of Carnegie Middle East Centre.
Most powerful Arab bankers and financiers: in pictures
34. Ali Shareef Al Emadi\n\nQatar National Bank (QNB) is by far the largest in the country - with an estimated 40 percent of banking sector assets - and is also one of the biggest in the region.\n\nThe bank is headed by Ali Shareef Al Emadi, under whose direction it has undertaken international expansion.\n\nUnder Al Emadi’s leadership, QNB became the most profitable bank in the Gulf during 2011. Annual net profit leapt by 32 percent to $2.05bn during a period that has generally not been kind to the region’s banking community.\n\nQNB has an estimated 45 percent share of the Qatari banking sector, and its 50 percent-owned by the Qatar Investment Authority. It has a distribution network of 60 branches and offices both inside Qatar and internationally.
Most powerful Arab bankers and financiers: in pictures
35. Lubna Olayan\n\nAs the CEO of the Riyadh-based Olayan Financing Company, Lubna Olayan is one of Saudi Arabia’s most prolific businesswomen.\n\nThe group, which was founded by her father in 1947, is one of the kingdom’s most successful conglomerates with operations spanning distribution, manufacturing, services and investments, across the Middle East. The firm is also one of the largest investors in the Saudi and regional stock markets. One of Olayan’s most defining moments was speaking at the Jeddah Economic Forum in 2004, when shebecame the first woman to speak at a mixed conference in Saudi Arabia. During her speech, Olayan called for a country in which “any Saudi citizen, irrespective of gender who is serious about finding employment, can find a job in the field for which he or she is best qualified, leading to a thriving middle class and in which all Saudi citizens, residents or visitors to the country feel safe and can live in an atmosphere where mutual respect and tolerance exist among all”.
Most powerful Arab bankers and financiers: in pictures
38. Munib Al Masri\n\nMunib Al Masri was initially educated at An Najah School, Nablus, then pursued higher education in the field of petro-geology in Texas, US.\n\nMasri graduated with an MA and began a successful career, establishing large enterprises in various countries around the world. Al Masri founded EDGO, an oil and gas contracting company in Amman. He is now a director of the Palestinian Development and Investment Company (PADICO), one of the biggest listed companies on the Palestine Exchange, and is also deputy chairman of the Palestine Investment Fund.\n\nElsewhere, Al Masri has been heavily involved in education through the establishment of the Al Quds University Investment Fund, and he is also chairman of the Board of Trustees of the Sakakini Cultural Centre, Ramallah. Al Masri also helped set up the Engineering and Technology College at An Najah University, which is named after him, and is also a member of the board of trustees at the American University in Beirut.
Most powerful Arab bankers and financiers: in pictures
41. Abdulaziz Al Ghurair\n\nIt’s been a tough couple of years for bank profits in the region, but those of Mashreqbank — the cornerstone of Abdulaziz Al Ghurair’s business empire — have remained stable.\n\nThe fact that Mashreqbank has performed so well despite its exposure to Dubai World-linked companies speaks volumes about the strength of its leadership.\n\nAl Ghurair is CEO of the bank, which he started from scratch with $1.6m of capital during the oil boom in the 1960s, and which is the country’s fourth-largest by assets. The lender was the first bank to introduce ATM machines and credit cards to the emirates, and is now in expansionist mode.\n\nAl Ghurair is also one of the founders of the property giant Emaar, and served as speaker of the UAE’s Federal National Council until earlier last year. He remains a fervent proponent of national identity in the country. The family legacy can be traced back to Ahmad Al Ghurair who founded Al Ghurair Group in 1960. The family name has been a fixture within the UAE business community ever since.
Most powerful Arab bankers and financiers: in pictures
44. Abdel Hamid Shoman\n\nAbdel Hamid Shoman serves as chairman of Arab Bank, today one of the largest privately-owned banks in the Middle East and one of the most influential financial institutions in the Arab world.\n\nThe bank was established in Jerusalem in 1930 by Abdel Hamid’s grandfather, Abdul Hameed Shoman, with a view to serving the Arabs of Palestine.\n\nIt is testament to the Shoman family’s management and foresight that Arab Bank has not only survived the political and military turmoil of the Middle East, but has thrived. Following his father’s death, Abdul Majeed Shoman, in July 2005, Abdel took over as the chairman and CEO of the family’s bank. Over the four years up to 2008, he ushered in a massive 58 percent growth — but he credits much of the success of his bank to the diversity and openness of the Jordanian economy.\n\nArab Bank is also one of the country’s most global financial enterprises, with over 400 branches in a total of 29 different countries.
Most powerful Arab bankers and financiers: in pictures
54. Sultan bin Nasser Al Suwaidi\n\nSultan Bin Nasser Al Suwaidi is a UAE national was born in Abu Dhabi in 1953.\n\nHe started his career at Abu Dhabi Investment Authority (ADIA) in 1978, at the Finance and Administration Department, and joined the Central Bank as Governor in 1991. At the Central Bank, Al Suwaidi was able to introduce or modernise many banking regulations. In 1994, he worked on establishing the ‘UAESwitch’ which started operations in 1996 and was able to connect all bank ATMs in the UAE. He also supported the establishment of an automated cheque clearing System for UAE banks.\n\nGuided by Al Suwaidi, the Central Bank is in the process of implementing many new initiatives such as the Image Cheque Clearing System, the Mobile Phone Payment System and Basel II.
Most powerful Arab bankers and financiers: in pictures
61. Mohammed El Erian\n\nEgypt-born Mohammed El Erian is CEO and co-CIO of PIMCO - the world’s biggest bond trader. He re-joined PIMCO at the end of 2007 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment and related accounts. El Erian has published widely on international economic and finance topics. His book, When Markets Collide, was a New York Times and Wall Street Journal bestseller, won the Financial Times/Goldman Sachs 2008 Business Book of the Year and was named a book of the year by The Economist and one of the best business books of all time by the Independent. He was named to Foreign Policy’s list of “Top 100 Global Thinkers” for 2009, 2010 and 2011.
Most powerful Arab bankers and financiers: in pictures
69. Dr Ibrahim Al Ibrahim\n\nSince 1988, Al Ibrahim has been a close advisor to Sheikh Hamad Bin Khalifa Al Thani, the Emir of Qatar.\n\nDr Ibrahim was between 2006 and 2011 the secretary general for the General Secretariat for Development Planning (GSDP). He has been at the heart of the development process for the Qatar National Vision 2030, and is now also leading Qatar’s First National Development Strategy. As the state realises its global ambitions, almost every plan and process is going through Dr Ibrahim’s desk. Dr Ibrahim is the vice chairman of the board of RasGas Company Limited and chairman of the Marketing Committee. He is a board member at Qatar Petroleum.
Most powerful Arab bankers and financiers: in pictures
73. Hamad Buamim\n\nHamad Buamim has been the director general of Dubai Chamber of Commerce & Industry since November 2006. Educated in the US, Buamim graduated from the University of Southern California – Los Angeles in 1996 with a Bachelor of Science in Electrical Engineering. In 2002, He obtained an MBA in Finance from the University of Missouri – Kansas City.\n\nPrior to joining Dubai Chamber, Buamim worked in various positions in the public and private sectors. He was the secretary general of Dubai Economic Council, a corporate manager in HSBC Bank. He is now a board member at several major companies, such as Emirates NBD and Dubai World.
Most powerful Arab bankers and financiers: in pictures
74. Helal Al Marri\n\nAs head of Dubai World Trade Centre (DWTC) , Al Marri has managed to achieve continued growth for Dubai, helping stage some of the world’s biggest events such as Gitex in the emirate.\n\nAl Marri previously worked as a strategy consultant with Mckinsey & Co, one of the world’s leading consulting firms. He also worked with KPMG in London, holds an MBA degree from the London Business School and is a member of the Institute of Chartered Accountants in England and Wales.\n\nFounded in 1979, the DWTC has been instrumental in establishing Dubai as a global financial and commercial hub and Al Marri was appointed its head in 2004.
Most powerful Arab bankers and financiers: in pictures
75. Dr Habib Al Mulla\n\nDr Habib is one of the UAE’s most highly respected legal authorities. He has over 27 years’ experience in UAE law and has drafted many of the modern legislative structures in place in Dubai today.\n\nDr Habib is a strong advocate for the improvement and modernisation of UAE laws. He is a frequent commentator on the legislation and economy of the UAE and is often consulted to draft and advise on Federal and Emirate level laws. He is vice chairman of the board of trustees for the Dubai International Arbitration Centre and is Chairman of the Chartered Institute of Arbitrators UAE Committee. He created the concept of financial free zones in the UAE and was the architect of the legal framework establishing the Dubai International Financial Centre (DIFC).
Most powerful Arab bankers and financiers: in pictures
76. Khadem Al Qubaisi\n\nAs the chairman of Aabar Investments , Khadem Al Qubaisi’s recent string of high-profile acquisitions have helped propelled Abu Dhabi onto the international map. His latest move was taking over as chairman of Arabtec last month, after his company raised its stake in the construction giant.\n\nAabar has been on the expansion trail since International Petroleum Investment Co (IPIC) — of which Al Qubaisi is also the chairman — took control of the firm in 2009. IPIC is one of the investment arms used by the government of Abu Dhabi to invest its oil income.\n\nQubaisi attended high school in Abu Dhabi and studied at the University of the United Arab Emirates. He was awarded a BSc in Economics in 1993, and that same year commenced his career with Abu Dhabi Investment Authority.
Most powerful Arab bankers and financiers: in pictures
87. Sulaiman Al Fahim\n\nThe one-time CEO of Hydra Properties is now based in the US, from where he continues to have considerable influence in the business world.\n\nHe is putting together a major green building initiative and code, initially for New York City, that is expected to be rolled out in other US states next year. Al Fahim has also been at the forefront of many green social housing initiatives in Saudi Arabia. In the past year his focus has also been on developing solar and wind energy projects across the GCC. He has been working with Spanish companies looking to establish a presence in Saudi Arabia. Much of this work involves helping European and Arab companies work together on information exchange programs. Al Fahim continues to be active in philanthropy, spending several weeks in year working on projects in Africa.
Most powerful Arab bankers and financiers: in pictures
92. Faisal Al Ayyar\n\nA former fighter pilot in the Kuwaiti Air Force, Faisal Al Ayyar has been with Kuwait Projects Company (Holding) (KIPCO) since 1990, and has overseen the then-modest local investment bank’s growth into one of the leading diversified investment holdings groups in the MENA region.\n\nWith more than $19.9bn in assets under its control or management, the bank’s core activities include financial services, media and telecoms, with interests in real estate, manufacturing, medical services, aviation and education. KIPCO controls or holds substantial stakes in some 70 companies throughout the MENA region — as well as India, the UK and the US — and is the majority joint venture partner of Viacom in Showtime, the Middle East’s leading pay-TV entertainment provider.
Most powerful Arab bankers and financiers: in pictures
99. Eisa Al Eisa (left)\n\nIn 1980 - the same year that the bank was founded - Eisa Al Eisa started his career with Samba, the Arab world’s fifth-largest lender and Saudi Arabia’s second-largest lender by market value. In 2003, he was appointed CEO and managed Samba’s de-merger from Citi Group, where he steered the bank’s transition to full Saudi management in just 37 days. In April, the lender posted a first-quarter net profit of SR1.145bn ($305.3m), a two percent increase year on year due to a rise in operating income. Under Al Eisa’s stewardship, the bank has in recent years expanded overseas to include a branch in Dubai. Al Eisa is a former director of the Saudi Electricity Company (SEC).
Most powerful Arab bankers and financiers: in pictures
109. Abdulfattah Sharaf\n\nAbdulfattah Sharaf became the first CEO for HSBC’s UAE division when he was appointed in January 2010.\n\nSharaf spent thirteen years at NBD before joining HSBC, and also looked after global giant’s retail offering before taking on the top position. In February, the Middle East unit of the banking giant reported a 67 per cent increase in profits to $1.4bn despite a global $900m cost-cutting drive that spurred it the lender to close 16 businesses across the world.\n\nSharaf, a graduate of The University of Denver, is also a board member of the Network International, an advisory board member of HDG Mansur - USA and a member of Young President Organisation.
Most powerful Arab bankers and financiers: in pictures
127. Khater Massaad\n\nDr Khater Massaad is arguably the most influential businessman in the recent history of Ras Al Khaimah. \nThe driving force behind RAK Ceramics, Massad helped create one of the biggest manufacturers of ceramic products in the world, bringing in revenue of around $1bn from a network of more than 150 countries.
Most powerful Arab bankers and financiers: in pictures
135. Sultan Abu Sultan\n\nSultan Abu Sultan started his career with HSBC in 2003, moving up the ranks, before being appointed regional managing director.\n\nHe joined Barclays in 2008 as the head of central support, responsible for the core functions of Barclays’ operations and business retail. In 2008 he was appointed director of administration and government relations and become the sole contact between Barclays and all government institutions across the UAE. He is currently the only UAE national chairing a global bank in the UAE. British lender Barclays, in which Qatar’s sovereign wealth fund and the Abu Dhabi royal family hold stakes, is a major operator in the region.
Most powerful Arab bankers and financiers: in pictures
143. Saleh Kamel\n\nSaleh Kamel may be famous as the man whose firm has investments of billions of dollars across 40 countries, but his recent appointment as the chairman of the Jeddah Chamber of Commerce and Industry represents yet another new path the experienced tycoon has taken.\nKamel’s stewardship of Jeddah’s businessmen over the course of the next few years will be key to the city’s development. Other business interests include television channels, civil services and hospitality.
Most powerful Arab bankers and financiers: in pictures
148. Rasheed Al Maraj\n\nRasheed Al Maraj has been governor of the Central Bank of Bahrain since January 2005.\nAs governor, Al Maraj carries ministerial ranking and is the chief executive of the CBB, which is responsible for ensuring monetary and financial stability in Bahrain. The CBB is also the single regulator of Bahrain’s financial services industry. Al Maraj has a wealth of experience in finance, engineering and management and has served with the government and the private sector.\n\nHis career highlights include senior positions with government, having served as assistant under-secretary at the then Finance and National Economy Ministry and under-secretary at the Ministry of Transportation. Prior to his appointment as governor, Al Maraj was general manager and chief executive of the Arab Petroleum Investments Corporation (Apicorp), which is based in Dammam.
Most powerful Arab bankers and financiers: in pictures
176. Abdulaziz Al Sowailim\n\nUpon graduating from King Saud University in 1986, Abdulaziz Al Sowailim joined Ernst & Young’s Riyadh office as fashion designer and head of Etoile.\n\nHe has now been with the firm for more than 26 years. Al Sowailim has provided assurance, tax and business advisory services to a range of private and public sector organizations in the financial services, energy, petrochemicals, manufacturing, trading and services sectors. He is member of the Saudi Organization of Certified Public Accountants, Vice Chairman of the Saudi Accounting Association and a member of the American Institute of Certified Public Accountants (CPA).
Most powerful Arab bankers and financiers: in pictures
189. Fayez Sarofim\n\nBorn in Egypt, Sarofim is a graduate of the University of California Berkeley and holds a Harvard MBA. He founded Fayez Sarofim & Company in 1958 and as of March 30, 2012, the firm had US$26 billion in assets under management.\n\nDivorced with five children and living in Houston, Sarofim was referred to by Forbes as “Sphinx”. \n\nHe handles the investment portfolios for a wide range of clients — pension plans, foundations, endowments, and individuals. An independent entity, it currently has a team of 22 investment professionals. He has been grooming his son, Chris, to take over — or perhaps has plans to sell the entire company. His other children are well known socialites on the Texas arts and party circuit. Apart from his work in the world of finance, Sarofim is also a major contributor to the Houston Ballet and the Museum of Fine Arts. In 2006, he was rated by Forbes as one of the 500 wealthiest people in the world.
Most powerful Arab bankers and financiers: in pictures
192. Mohammed Nasr Abdeen\n\nAbu Dhabi-based Union National Bank is one of the UAE’s largest lenders, with 49 locations across the country.\nIt is headed by Mohammed Nasr Abdeen, who has steered the bank through the economic crisis with a conservative approach to lending. Abdeen is also vice-chairman of the bank’s new Egypt operation.\n\nThe bank reported a small increase in first quarter net profit, beating Reuters’ analyst forecasts, helped by an increase in net interest income and income from Islamic financing.\n\nNet profits at the bank rose 3.2 percent to AED471.1m (US$128.26m) compared to AED456.36m in the year-ago period, UNB said in a bourse statement.
Most powerful Arab bankers and financiers: in pictures
196. Talal Abu Ghazaleh\n\nPalestine native Talal Abu Ghazaleh is the chairman and founder of the eponymous Jordan-based global accounting organisation Talal Abu Ghazaleh International (TAGI).\n\nHe is widely regarded as the “godfather” of the Arab accounting industry, and is credited by most in the industry with promoting the significance of intellectual property rights in business deals in the Arab world.\n\nBorn in 1938, he later moved to Lebanon and then to Jordan. His first job after graduation from college was, unsurprisingly, in an auditing firm. Embarking on a career in intellectual property, he created TAGCO and Abu Ghazaleh Intellectual Property, specialising in accounting and IP.
Most powerful Arab bankers and financiers: in pictures
197. Nahed Taher\n\nDr. Nahed Taher is a leading economist and executive banker and the first female CEO of an investment bank in the GCC.\n\nPrior to co-founding Gulf One, Dr. Nahed served as chief economist and chairman of the Risk and Portfolio Management Committee at NCB in Jeddah. Prior to NCB, Dr. Nahed held the position of head of the accounting department at the King AbdulAziz University in Jeddah. She has over fifteen years of banking, academic and research experience and is also a well-known personality in the field of international economics.
Most powerful Arab bankers and financiers: in pictures
205. Maha Al Ghunnaim\n\nMaha Al Ghunaim is chairwoman and managing director of Kuwait-based Global Investment House, and a frequent entry on the lists of the most powerful women worldwide. She came to Global from Kuwait Foreign Trading Contracting & Investment Co. (KFTCIC), the investment arm of Kuwait Investment Company, which she had joined in 1982 after receiving her BSc in Mathematics from San Francisco State University.\n\nAfter founding the bank in 1998 along with friends, she was promoted to chairperson some nine years later, and has since been central to the bank’s policy of winning investment into the Middle East from overseas, not to mention leading the bank through a difficult recession period. Al Ghunaim also sits on the board of several other high-profile institutions in the Middle East region, including Shurooq Investment Services Co, and NASDAQ Dubai.
Most powerful Arab bankers and financiers: in pictures
208. Adeeb Al Sowailim\n\nIn 2009, Adeeb Al Sowailim was listed as one of the most admired CEOs in the region. As the CEO of Falcom Financial Services, a Sharia-compliant investment bank based in Saudi Arabia, he is not just considered a hard worker, but also an opportunist and forward thinker. Established in 2007, with a paid-up capital of $267m, Falcom is the biggest of 35 newly licensed investment banks in the kingdom. In the first two years it managed to capture a market share of more than 36 percent.\n\nAl Sowailim said the bank’s success was based on spotting and filling out the gaps in investor needs and wants, be it in terms of knowledge, products or services, which led to innovations and “pioneering spirit”. His focus today is seemingly on Saudi’s plans to expand its stock market by allowing direct foreign ownership to large institutional investors, which he believes could be a big step forward for the economy.
Most powerful Arab bankers and financiers: in pictures
220. Bahaa Hariri\n\nGeneva-based Bahaa Hariri is a key figure in the Arab world, both as a businessman and as the late Lebanese prime minister Rafiq Hariri’s eldest son.\n\nThough he derives the majority of his wealth from investment management, the Boston University graduate also has money tied up in real estate development and logistics. His property company Horizon Development focuses on commercial projects in Jordan and Lebanon, whilst he is also a major stakeholder in Globe Express Services (Overseas Group) — ranked among the top 100 logistics providers globally.\n\nInterviewed about last year’s Arab Spring, Hariri voiced his support for pro-democracy revolutionaries, saying their demands were basic and universal, and had nothing to do with extremist movements.
Most powerful Arab bankers and financiers: in pictures
221. Shehab Gargash\n\nShehab Gargash is the CEO of the UAE’s Daman Investments, and one of the region’s most high profile bankers. Prior to founding Daman Securities in 1998, Gargash was closely involved with the UAE banking sector, and with leading multi-national and major local banking institutions. In late 2007, Daman Securities re-structured as Daman Investments PSC, a private joint stock company incorporated under UAE law. The group today is multifaceted and diverse with interests in investments, asset management, mutual funds, brokerage, real estate, venture capital and private equity.
Most powerful Arab bankers and financiers: in pictures
233. Ahmad Julfar\n\nAhmad Julfar was given the role of CEO of the UAE’s biggest telecoms company in August 2011. Previously COO and general manager for Dubai operations, and an employee at the firm since 1986, Julfar has played a significant part in Etisalat’s growth over the years. He holds two degrees, one in civil engineering and one in computer science, both from the Gonzaga University in Washington. State-backed Etisalat, which operates in seventeen countries across the Middle East, Africa and Asia, made a profits of $492.79m in the first quarter, down from the year-earlier period. The former monopoly had reported declining profits in seven of the previous eight quarters. The Abu Dhabi firm’s profits have slid in the last year as rival operator du, which ended Etisalat’s domestic monopoly in 2007, won market share and internet-based phone calls hit the high-margin international calls business.
Most powerful Arab bankers and financiers: in pictures
254. Mohammed Al Fayed\n\nAlong with his brothers, Al Fayed founded a shipping company in Egypt, moved its headquarters to Italy, and set up additional offices in London. It was then that he moved to England.\n\nIn the 1960s, he met with Sheikh Rashid al Maktoum and was entrusted to help transform Dubai. In 1968, for instance, he set up the International Marine Services (IMS) in the city.\n\nAmong his numerous business interests, the year 1984 saw Al Fayed and his brothers purchase a 30 percent stake in House of Fraser, a group that included Harrods. In 1985, the remaining 70 percent was bought for £615m ($946m).\n\nHarrods was eventually sold to Qatar Holdings for £1.5bn ($2.30bn). Other significant businesses for Al Fayed include the Ritz Hotel in Paris and the West London football club Fulham F.C.
Most powerful Arab bankers and financiers: in pictures
284. Ahmed Heikal\n\nBefore establishing Egyptian private equity firm Citadel Capital, Ahmed Heikal served as an executive board member and managing director of EFG-Hermes, a firm he helped transform from a small financial consultancy into one of the leading investment banks in the Arab world.\n\nPrivate equity firm Citadel Capital has ninteen Opportunity-Specific Funds control platform companies with investments of $9.5bn in fifteen industries including energy, mining, agrifoods, cement, transportation and retail. Since its founding in 2004, the firm has returned $2.2bn in cash to its co-investors — more than any other MEA private equity firm.
Most powerful Arab bankers and financiers: in pictures
289. Dr Karim El Solh\n\nKarim El Solh is co-founder and CEO of Gulf Capital, one of the largest Middle Eastern private equity firms, established with a capital base of $330m. El Solh holds a bachelors degree in civil engineering from Cornell University, an MBA from Georgetown University, a Ph.D. in economics from the Institute D’Etudes Politiques de Paris and a Certified Management Accountant diploma.
Most powerful Arab bankers and financiers: in pictures
299. Ahmed Meshari (right)\n\nAhmed Meshari is the acting CEO of Qatar Investment Bank (QIB) and has over fifteen years of experience in the banking sector.\n\nThe Qatari national holds a Bachelor degree in banking and finance from the University of Kuwait and an MBA from the University of Ottawa.\n\nEarlier this year, QIB signed a deal with Middle East Dredging Company (MEDCO), showing that the bank is capable of providing Islamic financing solutions to large companies with large projects.
Most powerful Arab bankers and financiers: in pictures
300. Khalid Khalban\n\nKhalid Kalban serves as the CEO of Dubai Investments, a conglomerate that invests in viable and profitable entities. He is a well-known businessman in the UAE thanks to his broad experience in various fields including industrial, to financial and investment sectors.\n\nKalban holds significant posts including member of the board of directors of Emirates Bank International, Emirates International Brokerage LLC, Saudi International Petrochemical Company, Arab Insurance Group, Dumoco LLC and Thuraya Satellite Communications-Telecommunications Company.\n\nHe holds a degree in Business Management from Arapahoe Community College, USA. In 2012, Dubai investments reported a net profit of $29.3m for the first-quarter, a 6.3 percent rise from the previous year.
Most powerful Arab bankers and financiers: in pictures
307. Atif Abdulmalik\n\nDespite a tough year for the bank, Abdulmalik will be working hard to bring it back to profitability.
Most powerful Arab bankers and financiers: in pictures
318. Alvaro Saieh\n\nAlvaro Saieh, who has Palestinian ancestry, is one of Chile's most influential businessmen.
Most powerful Arab bankers and financiers: in pictures
333. George Nasra\n\nGeorge Nasra heads up one of Doha's most prominent lenders.
Most powerful Arab bankers and financiers: in pictures
349. Tarek Hassan Amer\n\nTarek Amer heads up by far the largest of Egypt's banks.
Most powerful Arab bankers and financiers: in pictures
383. Sinan Al Shabibi\n\nAs the Iraqi economy emerges, Sinan Al Shabibi will need to keep a close eye on monetary policy.
Most powerful Arab bankers and financiers: in pictures
402. Talal Al Zain\n\nCEO, Mumtalakat
Most powerful Arab bankers and financiers: in pictures
412 Essa Kazim\n\nCEO, Dubai Financial Market
Most powerful Arab bankers and financiers: in pictures
428 Adel Mustafawi\n\nCEO, Masraf Al Rayan, Qatar
Most powerful Arab bankers and financiers: in pictures
429 Antoun Sehnaoui\n\nChairman, Société Générale de Banque au Liban, Lebanon
Most powerful Arab bankers and financiers: in pictures
456 Adnan Al Musallam\n\nChairman, Investment Dar
Most powerful Arab bankers and financiers: in pictures
477 Hussein Al Qemzi\n\nGroup CEO, Noor Islamic Bank, UAE