< Previous30 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S $2.18bn The 2022 fi rst half net profi t posted by First Abu Dhabi Bank (FAB) HANA AL ROSTAMANI Group CEO, First Abu Dhabi Bank (FAB) UAE q FAB is always committed to providing futuristic and interoperable solutions that drive the digital payments journey and improve customer experience” BANKING AND FINANCE A n accomplished C-suite executive with over 20 years of experience in banking and financial services, Al Rostamani previously served as the deputy group CEO and head of personal banking at FAB, the UAE’s largest finan- cial institution. She took over her current role in January 2021 and is the only female group CEO of a major UAE-headquartered bank and publicly listed corporation within the UAE. Her leadership has steered FAB towards expansion throughout the Middle East with the acquisition of the Egyptian division of Bank Audi, a Lebanese bank. She chairs FAB Private Bank Suisse, is a member of the IMD Foundation Board, the Mastercard advi- sory board, and also sits on her family business AW Rostamani Group’s board of directors. Al Rostamani also served as an independent director at Emirates Inte- grated Telecommunications Co (du) and was the vice chairperson of Emir- ates Institute for Banking and Financial Services. She continues to lead the transformation of FAB, with a focus on customer and digital-first mindset. For the first half of the year, the UAE’s largest lender has reported a robust year-over-year increase in net profit, bolstered by favourable regional condi- tions despite global instability across markets. FAB reported a 50 percent increase in profits, as compared to the same period of the previous year. FAB’s profits reached $2.17bn while earnings per share climbed 52 percent year-over-year. Digital transformation efforts According to recent research by the IBM Institute for Business Value, seven out of 10 banks in the UAE have realised the significant value of modernising applications and business processes. Further reinforcing the way FAB continue innovating and transforming the way they interact with their customers, in August 2022, FAB established a partnership with IBM Consulting for digital transformation services. Aligned with the bank’s long-term digital roadmap to secure its position in digital banking, FAB is launching multiple digital products and services, in addition to upgrading numerous aspects of its IT infrastructure to enable an enhanced digital portfolio. Already collaborating with IBM across several technology projects, FAB is now moving ahead towards its digital transforma- tion journey and will receive IBM Consulting’s expertise across hybrid cloud, application modernisation and banking to boost the customer’s banking experience through specific customer applications. arabianbusiness.com 31 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / Best known for her global beauty brand Huda Beauty, Kattan founded her billion-dollar cosmetics brand in 2013. Fuelled by an unsatisfying finance job along with a lifelong passion for beauty, Kattan went on to enrol at a prestigious makeup training school in Los Angeles. Building upon her stellar reputation over time, it was here where she ultimately culti- vated a roster of clientele including A-list celeb- rities and a royal family. In 2010, Kattan set up her beauty blog HudaBeauty.com and later launched a YouTube channel, a Facebook page and an Instagram account by the same name. After acknowledging a gap in the market for false eyelashes, in 2013, Kattan and her sisters Mona and Alya worked together to create a collection of false eyelashes under the Huda Beauty brand name. Her experience in the beauty industry fostered by her social media skills led her to further expand the range to include liquid lipsticks, lip contour pencils, and more. In November 2018, Kattan further expanded her repertoire to include fragrances by collaborating with her sister Mona to launch the brand Kayali. Fuelled by the success of this brand, Kattan went on to launch her own skin- care line known as Wishful Skincare in 2020. A social media success story Named as the most hyped celebrity brand in 2022 by Cosmetic Business in 2020 and 2021, Huda Beauty was named the world’s most in-demand makeup brand by Cosmetify. Leveraging the power of social media, Huda Beauty is unique in that it has expanded solely by its robust presence across various social media platforms. Kattan currently has over 50 million followers on Instagram and is one of the world’s most-followed social media influencers. In 2021, the 38-year-old makeup mogul took a stand against promoting unrealistic beauty standards following the launch of her skincare line, with a social media campaign that featured company staff, including Kattan, sans any makeup, filters or editing. Kattan owns 51 percent of the business, with the remainder owned by her family or set aside for an employee option pool. Bringing in approximately $200m in annual sales, today, Huda Beauty sells more than 140 products from eyeshadow pallets to lip gloss. In a deal that valued the company at $1.2bn, private equity firm TSG Consumer Part- ners acquired a small minority stake in Huda Beauty in 2017. 50.8 million The number of people who follow Huda Kattan on Instagram as of 26 August 2022 HUDA KATTAN Founder and chairwoman, Huda Beauty UAE RETAIL q It’s so important to fi nd something that really, really fuels your passion” 32 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S HAIDER ALI KHAN CEO and board member, EMPG UAE HUSSAIN SAJWANI Founder and chairman, DAMAC UAE ISAM AL SAGER Vice chairman and Group CEO, National Bank of Kuwait (NBK) KUWAIT REAL ESTATEREAL ESTATE BANKING AND FINANCE EMPG’s classifieds portals consti- tute some of the most robust brands, which primarily consti- tute the MENA, South Asia and South- east Asia regions, with flagship ventures that include Bayut-Dubizzle in the UAE, Zameen in Pakistan, OLX in Pakistan and Egypt, Kaidee in Thai- land, Lamudi in Indonesia, Philip- pines and Mexico, and Mubawab in North Africa. Steering Bayut.com on an upward trajectory, Khan was educated at the University of Texas at Austin, where he studied electrical engineering. He has multiple patents to his name and has over 14 years of experience in the US with Goldman Sachs, Silicon Labs and National Instruments. With 217 million monthly visits to EMPG’s portals, today, EMPG employs a team of 6,750 people across 16 countries. After identifying a gap in the market, Sajwani established luxury developer DAMAC Prop- erties in 2002, which has grown into one of the region’s largest property development companies with projects in Abu Dhabi, Dubai, London, Bagh- dad, Jeddah, Riyadh, Amman, Doha and Beirut. DAMAC Properties is a public- ly-listed company with shares traded on the Dubai Financial Market (DFM). The company has delivered over 30,000 homes, with a development portfolio of over 34,000 units at various stages of planning and progress. A savvy investor and businessman, Sajwani has robust experience in global equity and capital markets. In 1992, he set up his flagship investment arm DICO Investments, whose global footprint extends across North Amer- ica, Europe, Asia, Middle East and Africa region. Sajwani graduated from the University of Washington, and started his career as a contracts manager in GASCO, a subsidiary of ADNOC. Prior to his current role, Al Sager was the deputy group CEO since 2010. In 1978, he embarked upon his banking career at NBK, tran- sitioning from a relationship officer to head of domestic credit and marketing in 1987. In 1992, he was appointed as the general manager of retail and wholesale banking group and contin- ued to climb the ranks to reach his current position. With over 35 years of experience at NBK, he has helped lead the bank’s international presence in 16 countries. Also the chairman of NBK, Egypt, Al Sager serves on the board member of multiple NBK subsidiaries and at Mastercard’s board of directors. He received his under- graduate degree from California State Polytechnic University, Pomona. 5.1 million The number of visits to the bayut. com’s website in May of this year q The bank will continue to invest heavily in its strategic initiatives to ensure maximised returns for its stakeholders” arabianbusiness.com 33 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / ISSAM KAZIM CEO, Dubai Corporation for Tourism & Commerce Marketing UAE LUBNA OLAYAN Chairperson, Saudi British Bank (SABB) and Alawwal Bank KSA JOHN PAGANO The Red Sea Development Company (TRSDC) KSA TOURISM AND HOSPITALITY BANKING AND FINANCE TOURISM AND HOSPITALITY At the helm of negotiating and facilitating global partnerships, Kazim has facilitated the devel- opment of relationships with partners, industry stakeholders, as well as inves- tors that contribute to Dubai’s tourism and has steered the marketing, brand- ing and promotion of Dubai. He is a member of the board for the Dubai Media Council, and also acts as a key media spokesperson regularly as the face of Dubai Tourism for interviews, presentations, and events, as well as to visiting government bodies, VIP delegations and other personalities. He scaled up the Visit Dubai social and digital ecosystem and has driven some of the recent game-changing market- ing campaigns, including the award-winning #BeMyGuest with Bollywood celebrity Shah Rukh Khan. Following the merger between Saudi British Bank (SABB) and Alawwal Bank, Olayan became the first woman to chair a Saudi-listed entity when she was appointed to the role. She became chairwoman of SABB in 2019 and was reappointed to a three- year term in January 2020 following its merger with Alawwal Bank to create the kingdom’s third-largest lender. A former analyst at JP Morgan, Olayan is a vocal advocate for women’s empow- erment in the kingdom. In 2021, she was named as the chairperson of the Board and Executive Committee of the Saudi-Swedish Business Council (SSBC), the first of its kind in the history of Saudi foreign business councils. She is the board chairperson at Alfanar, one of the first venture philanthropy organ- isations in the Arab world. P agano has been at the helm of the Red Sea Development Co (TRSDC) since January 2018, one of several megaprojects aimed at diversifying KSA’s economy in line with the government’s Vision 2030 plan. With over three decades of inter- national real estate experience in the commercial property industry in North America, the Caribbean and Europe, Pagano spent 23 years in London with the Canary Wharf Group, and had also headed his own company in London. Also the CEO of KSA’s ultra-luxury destination project Amaala, he is steering the phase one development of the Red Sea Project, which include 16 hotels and 3,000 rooms across five islands and two inland resorts. Upon completion in 2030, The project will comprise 50 resorts, offering up to 8,000 hotel rooms and more than 1,000 residential properties across 22 islands and six inland sites. The destination will also include an international airport, luxury marinas, golf courses, enter- tainment and leisure facilities. q The growth in Dubai’s tourism sector has been nothing short of remarkable but it mirrors the achievement of our entire city” $553.8m The net profi t posted by SABB during the fi rst half of 202234 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S $50bn The value of the Diriyah Gate development project in the northwest of Riyadh ’s city centre q Diriyah is more than a giga-project. Diriyah is critical, because it anchors the kingdom on its identity and on its soul, and the soul cannot be measured with money” TRAVEL AND HOSPITALITY Gerard ‘Jerry’ Inzerillo is a globally cele- brated visionary in the hospitality and tourism industry, with a deep aptitude for positioning strategies and iconic developments. Over the course of his five-decade career in the industry, he has been the creative and logistical mind behind some of the world’s most innovative luxury brand activations and spectacular devel- opment launches. In recognition of his leadership and empathetic outreach to the tourism commu- nity during the Covid-19 pandemic, he was voted Corporate Hotelier of the World by Hotels maga- zine, considered the most prestigious recognition in global hospitality as well as the Tourism for Peace Award by the World Association of Non-Governmental Organisations (WANGO), honouring Inzerillo’s unique contributions to world peace by bringing people together through travel and tourism. Key projects In June 2018, Inzerillo was appointed by Crown Prince Mohammed Bin Salman to be the founding CEO of the newly created Diriyah Gate Develop- ment Authority, (DGDA), a $50bn giga-project aimed at restoring and cele- brating the ancestral home of the original Saudi state. In this role, he is responsible for developing and implementing master plans to turn 14 sq km within a supervisory area of 194 sq km into one of the world’s greatest histor- ical places and the centre of culture and heritage in the Middle East. At Turaif was inaugurated by King Salman Bin Abdulaziz Al Saud in November 2019, followed by hosting the G20 in November 2020. When complete, the devel- opment will add $7.1bn to KSA’s GDP, attract 27 million visitors and employ more than 55,000 people. Inzerillo also serves as vice chairman of the Forbes Travel Guide. As CEO of Forbes Travel Guide from 2014 to 2018, he successfully spearheaded the globalisation of the North American company’s international footprint to more than 100 countries worldwide. From 1991 to 2011, Inzerillo was pres- ident of Kerzner Entertainment Group, where he raised the profile and posi- tioning of its properties in South Africa, the Bahamas, Dubai, Morocco, Mauritius, Mexico and the Maldives, and conceptualised the startup of its One&Only and Atlantis brands. He oversaw the now-legendary launches of The Lost City at Sun City in South Africa, Atlantis in the Bahamas and Atlan- tis, Dubai. From 1991 to 1996, Inzerillo served as COO of Sun City, the unique South African resort complex built by Sol Kerzner. GERARD INZERILLO Group CEO, Diriyah Gate Development Authority (DGDA); vice chairman, Forbes Travel Guide KSAarabianbusiness.com 35 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 85% The percentage of MENA consumers who have used at least one emerging payment method in the last year, according to Mastercard’s New Payments Index 2022 q With Mastercard’s ability to transform big data into meaningful insights, we are geared to help accelerate the transition of the city of Dubai towards a smart economy” Based in Dubai, Elgibali steers the company’s MENA business by forming new partner- ships, driving growth and innovation to meet market-specific needs, as well as delivering on Mastercard’s commitment to invest in the region. With a wealth of experience alongside a deep understanding of the region’s economic landscape, Elgibali is responsible for several lead- ership positions across various financial institu- tions, including HSBC Middle East, Standard Char- tered Bank, Barclays and Citigroup. Since the start of his career at Mastercard in 2016, he has helped bolster the company’s position as a technology leader and trusted payments advi- sor to regional governments, and subsequently, has enabled the execution of national-level programmes that support their digital agendas and long-term vision. Fluent in six languages – Arabic, English, French, Russian, Italian and Portuguese – Elgibali holds a Bachelor of Arts in Economics from the American University, Egypt, and an MBA from Strathclyde Graduate Busi- ness School in Glasgow. Key achievements Elgibali spearheaded Mastercard’s response to the Covid pandemic in MENA through the power of digital commerce, enabling support to governments, businesses, SMEs and consumers in combatting the impact of the pandemic. From driving commercial growth through diversification of revenue streams to building strategic partnerships with the region’s leading public and private stakeholders, through Mastercard’s multi-rail network strategy, Elgibali is on a mission to drive financial inclusion and payments innovation in the region. Mastercard also played a key role as a premier sponsor of Expo 2020 Dubai, rolled out its multi-rail strategy across key MENA markets, forged several government partnerships to drive financial inclusion and digital transformation, and empowered small businesses with key insights, funding, products and technology under Elgibali’s leadership. The company is also harnessing the power of partnerships and tech- nology to create a more sustainable future through Mastercard’s Priceless Planet Coalition initiative, which aims to address the global climate crisis by planting 100 million trees worldwide and regrowing forests by 2025. This initiative continues to expand and today includes more than 100 members across the globe who share Mastercard’s philosophy of doing well by doing good. KHALID ELGIBALI Division President Middle East and North Africa at Mastercard UAE TECHNOLOGY36 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S MOHAMED ALABBAR Founder and managing director, Emaar and noon UAE MONA ALMOAYYED Managing director, YK Almoayyed & Sons BAHRAIN NADHMI AL NASR CEO, NEOM KSA DIVERSIFIEDDIVERSIFIEDCONSTRUCTION With interests in F&B, ecom- merce, venture capital, logistics, real estate, hospi- tality and technology, Alabbar is the chairman of Eagle Hills real estate as well as of Americana Group, a multi- billion-dollar food business. Since 1997, he has steered the growth of Emaar Properties by developing leisure, retail, residential and hospital- ity assets, and is widely recognised for Dubai Mall and the Burj Khalifa. Having developed multiple world- class mixed-use projects, Alabbar’s retail businesses span across over 20 markets in the Middle East, the US, North and Sub-Saharan Africa, Central Europe, Eastern Europe and Asia. His ecommerce site noon was launched in 2016 and with collaborations with government depart- ments, have provided a platform for startups in Abu Dhabi and Ajman. Arenowned businesswoman and environmentalist, Almoayyed has been instrumental in over- seeing the business endeavours of YK Almoayyed & Sons, one of Bahrain’s oldest conglomerates. A diversified group established in 1940, with divisions specialising in trad- ing, contracting, concrete products, telecom services and property develop- ment. Today, it offers around 300 inter- national brands and employ 8,000 staff. Almoayyed is a member of the board of directors for Bahrain Maritime and Mercantile International (BMMI) and the vice chairman of the Ebdaa Bahrain, a micro finance bank. She is also one of the first women to be elected to the board of a publicly traded company in Bahrain (BMMI). She holds a Bachelor of Arts in Business Administra- tion degree from the University of Westminster in London. Since July 2018, Al Nasr has been at the helm of NEOM, KSA’s $500bn giga-project being developed along Saudi Arabia’s Red Sea coast, near Jordan and Egypt. A graduate of King Fahd University of Petroleum and Minerals (KFUPM), Al Nasr had gained extensive experience as an engineer; he started working for Saudi Aramco in 1978, where he spent his first three years in engineering services. Later as the manager of Saudi Aramco’s oil and gas pipeline projects, he steered the Shaybah Development Programme, which included installing gas compression facilities, liquid separation stations, and transmission lines. Upon its completion, Al Nasr held multiple key roles, including manag- ing director of Saudi Petroleum Over- seas, executive vice president of administration and finance of King Abdullah University of Science and Technology (KAUST), and interim president of King Abdullah Petroleum Studies and Research Centre (KAPSARC). 8,000+ The number of staff employed by YK Almoayyed & Sons $335.2m The value of Emaar-owned fashion ecommerce Namshi’s sale to noonarabianbusiness.com 37 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / 15,000 The number of staff who work for Ajlan & Bros Group in 25 countries MOHAMMED ABDULAZIZ ALAJLAN Deputy Chairman, Ajlan & Bros Group KSA q We will team up with more outstanding Chinese enterprises, tapping into the opportunities and potential of bilateral economic cooperation between China and Saudi Arabia” DIVERSIFIED Established in 1979, Ajlan & Bros Group has expanded to become one of the largest private sector conglomerates in the Middle East, employing over 15,000 people in more than 25 countries and spanning across 75 companies. With a diversified portfolio in line with Vision 2030, Ajlan & Bros Group has embarked on significant diversification, both regionally and globally as reflected in the company’s investments in real estate in Saudi Arabia, Europe, Asia, the US, as well as in China. One of the largest real estate owners in Saudi Arabia, the group has launched several commercial, housing and industrial projects throughout the kingdom. In recent years, the group has diversified into sectors which are aligned to and in support of Vision 2030. This includes water, power, environment, oil and gas, healthcare, food security, facilities manage- ment, tourism, logistics, blockchain, industrial manufacturing, real estate, textiles, technology, mining and minerals, as well as fast-moving consumer goods (FMCG), events and entertainment, gaming, financial services and fintech. Juggling multiple roles In addition to his role as deputy chairman of Ajlan & Bros Group, Alajlan also holds several positions and memberships including deputy chairman of Ajlan & Bros; chairman of the Saudi-Chinese Business Council; and deputy chairman for more than 75 companies around the world. He is also a former board member of the Young Arab Leaders Organisation. Alajlan was awarded various honours by the Chinese government, some of which include the Holder of the Honorary Citizen Award and City Key Holder Merit for Xuzhou City, awarded by the government of Xuzhou District for his contribution towards both economic and social development. He is also a recipient of the Honorary Citizen Award for Zaozhuang City, Shandong District, awarded by the government of Shandong District. Additionally, he holds an Honorary Work Merit and Medal and a certifi- cate from Siang City government, Giangsu Region, for his highly distin- guished contributions to the economic structure and commercial projects development. Alajlan is also the Friendship Ambassador for Shandong Region in China.38 Vol. 23/09, September 2022 / 2 0 22 MO S T INSPIRING B U SINE S S LEADER S 1,900 The number of staff employed by KPMG Lower Gulf NADER HAFFAR Chairman and CEO, KPMG Lower Gulf; Chairman, KPMG Middle East and South Asia UAE q At KPMG, inspiring confi dence and empowering change together for the betterment of tomorrow is at the heart of our purpose” BANKING AND FINANCE For over 25 years, Haffar has been on the forefront of the perpetually evolving world of management consultancy. As Chair- man and CEO of KPMG in the Lower Gulf (UAE and Oman) since 2018, he steered transforma- tion within the firm, and launched policies that led to significant growth in the last four years with a focus on Emiratisation and Omanisation, corporate social responsibility and prioritising employee welfare. His tenure at KPMG is highlighted by the transformation of the audit practice and signif- icant investments in quality. Both quality and integrity remain at the heart of everything the firm does: delivering on the ambition to be the most trusted and trustworthy firm for clients. At the helm of consulting practices and trans- formative projects across USA, Saudi Arabia, Kuwait and the UAE, Haffar is also a philanthro- pist who gives back to the community through participation in various CSR activities, including 100 Billion Meals and the Special Olympics. In March 2022, under Haffar’s directives, KPMG Lower Gulf signed a pledge with the UAE Gender Balance Council to achieve 30 percent women representation in management by 2025. The firm has since focused on women’s participation in decision-making roles from middle management to the highest levels of leadership. In 2022, he was recog- nised as one of the Most Influential Arabs by Arabian Business amongst the region’s most prominent leaders in their fields. In 2019, he was recog- nised as one of the top 50 expat CEOs in the UAE. He was also voted chairman of the Middle East and South Asia at KPMG in 2021, a region that covers more than 25 office locations across 15 countries and territo- ries. The region encompasses a combined talent pool of more than 8,000 professionals and associates, including over 500 partners and directors. Empowering change Utilising KPMG’s diverse and skilled talent, Haffar’s ambition to expand the firm’s services to reflect the needs of the UAE market is evident through KPMG’s iconic client list. Under his vision, the firm continues to inspire confidence and empower change in its clients’ businesses and make an impact for the betterment of society. He believes that the private sector plays a crucial role, along with the UAE government’s green initi- atives, in its responsibility towards protecting the environment. The massive transfer of KPMG employees to its new One Central offices contributed to a 60 percent decrease in energy consumption and a 35 percent decrease in water consumption. arabianbusiness.com 39 2 0 22 MO S T INSPIRING B U SINE S S LEADER S / NORA AL MATROOSHI Astronaut UAE OLAYAN ALWETAID Group CEO, stc KSA OLA DOUDIN CEO and co-founder, BitOasis UAE SCIENCE AND TECHNOLOGY TECHNOLOGY BANKING AND FINANCE O f the 65 women from around the world who have been in space, Al Matrooshi, the first female Arab astronaut, now ranks as the 66th. She and her fellow country- man, Mohammad Al Mulla now join Sultan Al Neyadi and Hazza Al Mansoori in the Emirati fellowship of astronauts. Selected from more than 4,000 candidates, she holds a Bache- lor’s Degree in Mechanical Engineering from the UAE University and has previ- ously managed projects for the Abu Dhabi National Oil Company (ADNOC). In 2022, she embarked on two years of training at NASA in Houston, where the Emirati astronauts will undergo training across five cate- gories of the space programme. These include learning Russian, operating a T-38 training jet, operating and main- taining the International Space Station’s (ISS) complex systems, and more. The UAE Astronaut Programme aims to prepare an Emirati astronaut corps for scientific space exploration as well as inspiring young people to study the science of space and technology. Appointed to his role at stc since March 2021, Alwetaid has over two decades of experience. Previously at Aramco, he subsequently joined Saudi Telecom Company (stc) where he worked his way up the ranks, including as the senior VP for the consumer sector. Prior to this, he held the role of CEO of stc Bahrain. Also the vice chairman of the board of directors of stcPay, Alwetaid steers the boards of directors of multiple stc subsidiaries including Integral, CCC, and Chan- nels, in addition to holding the respon- sibility of chairman of several commit- tees of these boards. Steering digitisation in KSA, stc became the first telecoms company to join the Digital Cooperation Organisation (DCO), which upskills the youth to enable prosperity in the digital economy. Akey player in the region’s cryp- tocurrency ecosystem, Doudin launched BitOasis, the first cryptocurrency platform in the Middle East and the region’s largest digital asset trading platform. In 2013, she invested in her first-ever Bitcoin and one year later, Doudin launched her Dubai-based startup as an online wallet and exchange available across the MENA region and Asia, and was the first to use multi-signature tech- nology to protect digital assets. So far, BitOasis managed to secure two rounds of funding from international and regional venture capital funds. With an engineering background, she began her career in IT Risk Advisory at EY in London while mentoring and investing in tech startups. While the cryptocurrency trading world continues to debate about whether the ‘coins’ are currencies, commodities or a fad, Doudin is opti- mistic that a new generation of fintech startups will be able to use cryptocurrencies to provide services cheaper and faster. q At stc Group, we are committed to social responsibility and invest heavily in sustainable development” Next >