NOVEMBER 2021 # 175 In the business world where change is inevitable, MyMonty’s CEO, Mountasser Hachem, transitions the banking sector from classical to digital BREAKING THE BORDERS OF BANKING UAE AED 20 KSA SAR 20 BAHRAIN BHD 2 KUWAIT KWD 2 OMAN OMR 2 NOVEMBER 2021 CEO MIDDLE EAST 3 CONTENTS NOVEMBER 2021 # 175 6 EDITOR’S LETTER 8 FACILITIES MANAGEMENT Imdaad’s Group CEO, Jamal Abdulla Lootah, reveals how his firm has thrived during a hugely challenging period 10 MENTAL HEALTH By 2030, mental health issues are set to become the biggest cause of death. So why does this still go unspoken in many offices and workplaces, both in the Middle East and globally? 16 EMPLOYMENT Ray Everett, CEO of Human Capital at Aon for Asia Pacific, the Middle East and Africa, looks at the employment phenomenon that is creating a shortage of talent 18 WELLNESS Focus on mental health and wellness in the workplace will remain an essential movement for business in the region, believes Selina Waterman-Smith 08 10 16 184 CEOMIDDLE EAST NOVEMBER 2021 CONTENTS 26 LEADERSHIP Today's most successful enterprises have leaders that can simultaneously transform the business while driving performance 30 VENTURE-BACKED STARTUPS In an exclusive interview, Prince Khaled bin Alwaleed, CEO of KBW Ventures, discusses Saudi’s entrepreneurial ecosystem, his investments, and the booming food tech market 34 HOSPITALITY KUBE Ventures, the brainchild of long- time friends Michael Levie and David Keen, aims to drive the transformation agenda in the industry by incubating and accelerating hospitality startups 20 26 34 30 34 MONTY MOBILE In the business world where change is inevitable, MyMonty’s CEO, Mountasser Hachem, transitions the banking sector from classical to digital COVER STORY: NOVEMBER 2021 CEO MIDDLE EAST 5 CONTENTS 38 SUSTAINABILITY It is clear that the region is seeing a fundamental shift in mindset, but now we need to see a quicker acceleration of the energy transition, says Greg Ross, head of sustainability at Petrofac 40 LEADERSHIP Where corporations and their CEOs rest on topics can heavily impact an organisation's bottom line and public image. It's a tricky business that comes with high risks and very high rewards if done right, says serial entrepreneur Briar Prestidge 42 WATCHMAKING MB&F is synonymous with disruptive watchmaking and pushing the boundaries of luxury 44 TIMEPIECES Precision is always in the heart of every watch manufacturer. We present some of the brands that push the boundaries of elite watchmaking 46 VENUES Billionaire Dubai is bringing its legendary show to the early evenings with the introduction of the Early Dinner show, set to take place on Wednesday evenings 48 FOOD RETAIL Ashley Griffiths, chief licensing officer of Pickl, reveals plans to set up 200 new stores targeted in the next five years 50 FINAL THOUGHTS Sara Chemmaa, founder and CEO of Citron, looks at the importance of passion when building your company’s brand 38 44 40 50 426CEO MIDDLE EAST NOVEMBER 2021 T here is a phrase, purported to be an ancient Chinese curse, which goes ‘may you live in interesting times’, which addresses the double-edged sword of turbulent times, with increased opportunity but also increased challenges. While the etymology of this motto has never been fully proven out as being derived from China, the phrase has stuck down through the decades as meaning a time of excitement and also of anxiety. So to modern times, and indeed, have there ever been more interesting times for the CEO, or budding CEO? Firstly, those at the top of the tree have to transition their companies out of pandemic times and launch head first into an economic rebound, amid a great resignation, a shift (or not) to flexible working, a talent shortage, plus a huge emphasis on ESG. And then there’s the evolution itself of the role of CEO, from Chief Executive Officer to a growing requirement to be Chief Empathy Officer, with reports galore from the likes of PwC and McKinsey that suggests tomorrow’s leaders need to be as skilled with EQ as they are with Excel. In short, no longer do the figures of the balance sheet suffice, how they are achieved is now equally important, if not more so. So in this month’s CEO Middle East magazine expect to read plenty of articles reflecting the diverse nature of these ‘interesting times’. Shane Phillips, CEO of The Phillips Group, unpacks ‘How to hire a CEO in a new era of workplace’. He says: “Today’s CEO is not 2018’s CEO. Current candidate assessments are fundamentally flawed as there is no one-size-fits-all approach to finding that ideal fit. Key to success is your CEO’s sense of personal identity, vision and their sense of purpose.” Or take Sir Ian Cheshire, the Chair of the Global Business Collaboration for Better Workplace Mental Health, who reflects that evolving nature of the CEO in our sit down discussion ‘Why managers must be prepared to lead mental health discussions’. “The simple answer,” he says, “is that businesses and organisations generally need to have much more honest conversations with their teams about what’s actually going on and what’s working for them and what isn’t working for them.” He also covers the driver behind talent war abroad in the world of work, something also covered by Ray Everett, CEO of Human Capital at Aon For Asia Pacific, the Middle East and Africa, who looks at the employment phenomenon that is creating a shortage of skilled labour in ‘What the Great Resignation means for employees and employers’. He says: “As a result of this talent shortage, we are seeing employees getting offers of 20 percent to 50 percent on top of existing pay packages, which often starts a bidding war between potential employers. Sounds like the current real estate market.” So here’s to those interesting times, if out of the chaos a more sustainable world of work can be born then perhaps it’s worth the anxiety to achieve the exciting in terms of an evolution into employment 2.0. Share your views on thought leadership and innovation by getting in touch: scott.armstrong@itp.com QUESTIONS? COMMENTS? SCOTT ARMSTRONG Editor in Chief @Scottiehack MAY YOU LIVE IN INTERESTING TIMES The CEO’s hot seat has never been hotter nor has the expectations on them ever been so diverse EDITOR’S LETTERNOVEMBER 2021 CEO MIDDLE EAST 7 To receive your copy delivered directly to your door, subscribe online at www.itp.com/subscriptions The most important business people and CEOs talk to the most important magazine The publishers regret that they cannot accept liability for error or omissions contained in this publication, however caused. The opinions and views contained in this publication are not necessarily those of the publishers. Readers are advised to seek specialist advice before acting on information contained in this publication which is provided for general use and may not be appropriate for the reader’s particular circumstances. The ownership of trademarks is acknowledged. 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MEDIA8 CEO MIDDLE EAST NOVEMBER 2021 Our keen focus on the health, safety, and welfare of our employees was central to our efforts to ensure op- erational continuity. We took extensive measures to safeguard them by provid- ing the necessary personal protective equipment (PPE) and training, as well as safe and secure accommodation facilities. As the Covid-19 vaccine was rolled out, we supported our employ- ees in getting themselves immunised at the earliest opportunity. We used the coronavirus crisis as an opportunity to further diversify our offer- ings and cement our market leadership. Our subsidiary Nigma, which provides customised solutions for automated products, ventured into portable lifts, and our pest control team forayed into disinfection services to expand our capabilities to meet the demands of the crisis. Our medical waste collection service was crucial in the nation’s fight against the spread of the pandemic. Imdaad’s Group CEO, Jamal Abdulla Lootah, reveals how his fi rm has thrived during a hugely challenging period and provides his outlook on the future of the region’s Facilities Management (FM) sector REMARKABLE PERFORMANCE AMID THE PANDEMIC hat challenges did the Covid-19 pandemic period present for the FM sector, and how did Imdaad overcome these? The pandemic brought unprecedented challenges for the global FM sector, forcing the industry to operate within the constraints of reduced manpower, supply chain uncertainties, increased opera- tional costs, and additional measures to ensure the safety and wellbeing of frontline workers. WNOVEMBER 2021 CEO MIDDLE EAST 9 FACILITIES MANAGEMENT We also launched new services, includ- ing grease-trap cleaning and hazardous waste management, further strengthening our integrated FM capabilities. Our diversified product offering and adaptive business model, together with our highly experienced and agile team, enabled us to mitigate the impact of the virus outbreak and emerge stronger. Imdaad appears to have emerged from the pandemic stronger than ever, so what do you attribute this success to? The impressive growth we achieved across our various business divisions despite the pandemic-induced challenges can be attributed to our robust business continuity strategy. We were able to adapt quickly to the rapidly evolving situation and implement measures to ensure that our critical op- erations continued uninterrupted. In ad- dition, our keenness to pursue innovation to meet clients’ needs and expectations were manifested in the strong customer loyalty during the pandemic period. By turning the challenges into op- portunities, we were able to set multiple examples for the FM industry in terms of crisis response, business continuity, adaptation, and delivering on commit- ments. Our comprehensive pandemic response plan not only ensured that we were able to provide our customers with seamless services of the highest stand- ards, but also enabled us to deliver on our existing contracts and commitments and cater to new and emerging needs. We also allowed great flexibility in contractual obligations by helping our clients with delayed payments while continuing to provide them with our services. Thanks to our proactive and agile approach, as well as the dedication and expertise of our team members, we have been able to consolidate our reputation as an FM leader despite the challenging market conditions, besides winning new contracts and foraying into new sectors and services. One area in which Imdaad has emerged as the FM provider of choice is the UAE banking sector. What sets your services apart in this industry? Imdaad’s ability to provide effective, round-the-clock support for the UAE banking sector makes us the partner of choice for the nation’s leading financial institutions. The extensive experience of our teams in handling challenging, large-scale projects, and our ability to offer comprehensive services through our multifaceted capabilities, enable us to maintain diverse facilities for banks, in- cluding local branches, corporate offices, warehouses, and data centres. In addition to our dedicated person- nel deployed to our banking clients, we support them with our numerous mobile teams providing comprehensive coverage throughout the UAE. Moreover, our 24-7 emergency response units work around “WE USED THE CORONAVIRUS CRISIS PERIOD AS AN OPPORTUNITY TO FURTHER DIVERSIFY OUR OFFERINGS” the clock to ensure that our banking cli- ents always receive the highest standards of service. We have also demonstrated exceptional flexibility and effectiveness in liaising with in-house teams as well as the police and other relevant authorities. Imdaad has also gained a substantial number of seaports and harbours as cli- ents across the country. Can you tell us more about your activities in this area? Imdaad has remained the preferred service provider for the nation’s major seaports and harbours, providing wide- ranging services including soft and hard FM; specialised maintenance and clean- ing; MEP; civil works; and fire safety. Our services to ports and harbours cover diverse amenities and landmarks, including terminals, harbours, residen- tial and commercial buildings, offices, open yards, container operation areas, and vehicles. What are Imdaad’s plans for the future as the world continues to emerge from the pandemic period? As Imdaad continues its remarkable performance this year, we are confi- dent of achieving more growth and new milestones in line with our short- and long-term strategic plans. Expanding our footprint in the UAE and the region and foraying into new sectors and services are among our key priorities. We aim to strengthen our presence in the UAE, especially in Abu Dhabi, where we opened a new office after securing a few major contracts. In addition, we aim to expand our market presence in the Northern Emirates, as well as across the government, banking, and ports sectors. We will continue to make long-term investments in training and developing our team, in addition to exploring new ways to integrate our operations with cutting-edge technology, including big data, the internet of things (IoT), and ar- tificial intelligence (AI), thereby enabling Imdaad as well as the industry to improve overall efficiencies and quality. Investing for the future. Imdaad is adapting the use of big data, internet of things (IoT) and artificial intelligenceNext >