Welcome to ACT Middle East

Certificate in International Cash Management

Certificate in International Cash Management

Dubai tuition school now available - register by 30 September
Certificate in International Treasury Management

Certificate in International Treasury Management

Tuition now available in Dubai
The Middle East Treasurer

The Middle East Treasurer

Practical advice on the issues affecting the industry in this region.
ACT Middle East Network

ACT Middle East Network

Covering UAE, Oman, Saudi Arabia, Kuwait, Qatar and Bahrain
1 2 3 4 5 Next »

ACT Middle East is the network

ACT Middle East is the network for treasury, risk and finance professionals committed to the development and sharing of treasury knowledge and expertise across the Middle East. The ACT Middle East was established to support and nurture the development of the treasury profession across the Gulf.

Chaired by Matthew Hurn, Executive Director – Finance, Emerging Sectors at Mubadala Development Company, the ACT Middle East Committee was developed to provide the ACT team with on the ground intelligence and guidance. The Middle East Committee consists of treasury professionals from some of the largest and most influential organisations across the GCC. These volunteers dedicate their free time to supporting the development of the profession and ensure that the ACT is supporting the local needs of the community.

Meet the Committee

ACT Middle East is supported by treasury representatives from countries across the Middle East and has members and students across the region.

ACT Middle East Chairman

Matthew Hurn, Executive Director – Finance, Emerging Sectors, Mubadala Development Company

Matthew_Hurn_1a Matthew is the Group Treasurer with responsibility for treasury, financial risk management, tax and insurance. Prior to joining Mubadala, Matthew was the Group Treasurer of DSG International (formally Dixons Group) where he was instrumental in developing the company’s treasury framework and strategy to accommodate its overseas expansion into 28 countries.

Matthew has worked extensively in the treasury industry for over 20 years in both the public and private sectors. His previous treasury experience also includes several years at Otis, with responsibility for the UK treasury operations of United Technologies Corporation, a Fortune 500 company.

Board positions: Chairman of MDC Re; Chairman of the Association of Corporate Treasurers (ACT) Middle East and Immediate Past President; Advisory Board member of OMFIF (Official Monetary Financial Institution Forum); Board member of EMI Music Publishing, SR Technics and Abu Dhabi Aircraft Technologies.


Abu Dhabi (UAE) team

Adam Boukadida, Deputy Treasurer, Etihad Airways

Adam_Boukadida_MEAC14Adam is the Deputy Treasurer at Etihad Airways. Prior to joining Etihad, Adam was the Senior Vice President and Group Head of Global Markets Operations where he was instrumental in centralizing the global wholesale operations team and building out a large multi-location global team. His previous Treasury experience also includes several years at Tesco Plc. with responsibility for managing the Treasury Front office team, offshoring the Treasury support function to India, various financial system implementations and managing Tesco’s financial risk portfolio including liquidity and cash management, hedging and banking relationships. Adam has also spent time working for Kimberly Clark, Marex Spectrum and The Royal Bank of Scotland. Adam holds various professional qualifications and an executive MBA.

Michael Clifford, CEO, Al Fahim Investments (FCCA, MCT)

silhouette

Alastair Fiddes, Head of Treasury, Mubadala Development Company

Alastair_Fiddes

Riyad Hammad, Treasury Director, Arabtec Construction

Riyad_Hammad_1Riyad Joined Arabtec in 2013 as Treasury Director, after gaining 17 years’ experience in Banking , Contracting & Real Estate sectors in the UAE & Gulf. He holds an MBA in Finance and various Financial , Banking and Treasury Management related qualifications.

Team Leader: Ricky Thirion, Group Treasurer, Etihad Airways

Ricky ThirionRicky has been with Etihad Airways since 2007 and oversees the Group Treasury, comprising of the corporate treasury, corporate investment, corporate and structured finance, and insurance functions.

He holds a Master’s Degree in Mechanical and Aeronautical Engineering and various financial and business management related qualifications. Ricky was voted Global Corporate Treasurer of the Year 2010 by the readership of gtnews and is an Honorary Fellow of the Association of Corporate Treasurers.

Senior Executive Positions Held

  • Group Treasurer – Etihad Airways
  • Group Treasurer - South African Airways
  • Managing Director - Andisa Treasury Solutions
  • Managing Director - Standard Risk and Treasury Management Services, a subsidiary of the Standard Bank Group of South Africa


Dubai (UAE) team

Marwan Abedin, Chief Executive Officer, DHCC

Marwan_Abedin2

Laura Ford, Senior Treasury Manager, Group Treasury, Majid Al Futtaim Group

silhouetteLaura Ford is Senior Treasury Manager at Majid Al Futtaim Holding, one of the largest developers and operators of shopping malls and hypermarkets in the MENA region. Her responsibilities include treasury operations, cash management and process re-design, with a special interest in treasury technology. Before joining MAF, Laura was based in the UK, in the European treasury centre of Cargill, a multinational producer of food and agricultural products. Laura has worked in corporate treasury for 13 years, and holds a Certificate in International Treasury Management from the Association of Corporate Treasurers.

Lourie Kruger, Vice President, Treasury and M&A, Kingdom Hotel Investments

Lourie_Kruger_MEAC14Lourie Kruger is Vice President, Treasury and M&A at Kingdom Hotel Investments, a leading international hotel and real estate investment company with a portfolio of hotel properties and industry-leading operators in upscale, upper-upscale and luxury market segment. Lourie has 14 years of emerging market banking, real estate and hospitality experience across 35 countries in Africa, Middle East and Asia. He started his career with Standard Bank in South Africa where he was co-founder of the African Real Estate team, a unit responsible for all the banks’ activities across Africa (excl. South Africa) in the commercial property arena. For the past six years Lourie has held the title of Vice President at Kingdom Hotel Investments where he has led the group’s treasury function and held responsibilities in corporate finance and M&A. Lourie is a member of the Association of Corporate Treasurers and sits on its Middle East Committee.

Faiq Qutubuddin, Senior Manager – Treasury, Dubai Properties Group

Faiq_Qutubuddin _MEAC14aCurrently Senior Manager Treasury at Dubai Properties Group (DPG), which is a member of Dubai Holding and is master developer of world class destinations that support the long-term development of Dubai including Business Bay, DUBAILAND and The Walk at JBR. The role is to lead and manage the Treasury function for DPG.

Working in Finance for around 15 years – a decade of which has been within Corporate Treasury. Worked previously at Travelex, Cable & Wireless Plc and AstraZeneca Plc in the UK and Limitless, Dubai World in the UAE. Qualified Management Accountant (ACMA & CGMA) and Treasury professional (ACMT) and a Committee Member of the ACT ME.

Team leader: Paul Reynolds, Head of Debt and Equity, Rothschild

silhouette

Raphael de Ricaud, Head of Islamic Finance, Rothschild

Raphael_de_Ricaud_MEAC14Raphael has over 12 years of Debt Capital Markets experience, most of which have been spent in the Middle East. Raphael joined Rothschild four years ago as Head of Islamic Finance, focusing primarily on providing financing advice to Shariah-compliant/minded corporates, financial institutions and governments. At Rothschild, Raphael has been working with clients such as Al Jaber, Dubai World, Nakheel, Kingdom Hotels, Emaar, Aayan, OIF, Etisalat, Dubai Aerospace, Amlak and the Ras al Khaimah Investment Authority. Prior to Rothschild, Raphael was at HSBC, Dubai, for three years where he was part of the Islamic Debt Capital Markets platform, originating and structuring Islamic fixed-income instruments (sukuk) as well as Islamic syndications. Before joining HSBC, Raphael worked for Credit Agricole Indosuez, the investment banking arm of Credit Agricole (now called Calyon) both in France and Saudi Arabia (with Banque Saudi Fransi where he was seconded from France). There, Raphael was part of the Structured Finance & Syndications team, focussing on structuring large Saudi transactions in the oil & gas, petrochemical, shipping and financial institutions sector. Raphael has been educated both in France (Sorbonne) and in the UK (SOAS, University of London). He holds a Masters in International Economics.

Andrew Robinson, Partner, KPMG

silhouette

Arun Singh, Corporate Treasurer, Aramex

Arun_Singh

Arun is the Corporate Treasurer at Aramex. He heads the responsibility of managing the global treasury operations of the Aramex Group that is present in 50+ countries. Prior to joining Aramex, he led Deloitte’s Treasury Advisory team in the Middle East. He also worked at Deloitte’s Treasury Advisory practice in the UK for a number of years before moving to the Middle East. Arun holds a number of qualifications that includes a Masters in Finance, Chartered Management Accountant and Chartered Treasurer.


Kuwait team

Rob Farrow, Corporate Treasurer, Alghanim Industries

Rob_FarrowRob Farrow currently serves as Vice President for Alghanim Industries. Based in Kuwait, he is responsible for Alghanim’s global treasury and financial services businesses (insurance and consumer/trade credit). Rob is a fellow of the Association of Corporate Treasurers, having started his treasury career in 1985 with Ford Credit. He became the FX manager of Ford of Europe in 1992 before moving to GE in 1994. A very challenging and rewarding five years were spent in Singapore as GE’s risk manager during the Asia crisis. In 2001, Rob moved to Norway as GE Hydro’s chief financial officer, and his GE experience culminated with five years as group treasurer of GE Energy in Atlanta. He became treasurer of Alghanim in mid-2009, assuming his current role in August 2013. During his career Rob has been active in all key treasury areas. In 1995/96 Rob was the leader of GE’s working group to prepare for EMU and introduction of the Euro, and in 2012 led the Alghanim team that was awarded the ACT Middle East Treasury Team of The Year.

Team leader: Andrew McMichael, Group Treasurer, Agility

Andrew_McMichael2Andrew is the Group Treasurer for Agility, a Kuwait based, global logistics company with a turnover of around USD 5bn, operating in over 100 countries. After obtaining a degree in Chemistry and Business Administration in 1990 from Kingston University, he joined Unilever in the Treasury department and obtained his ACMA in 1994. He joined Ocean Group plc (later renamed Exel plc) in the treasury department in late 1994, and became Group Treasurer in 1998. He left Exel in 2004 and worked with a start-up company specialising in trade receivable financing, but has now returned to mainstream Treasury and has moved to Kuwait.

Andrew obtained his AMCT in 1995, and is a member of the ACT Programme Committee in the UK, and a founder committee member of the ACT Middle East.

Declan Sawey, Group Treasurer, KIPCO

Declan_Sawey_MEAC14Declan Sawey joined KIPCO as Group Treasurer in 2007 KIPCO is one of the largest holding companies in the MENA region, owning businesses in financial services, media, real estate and industrial sectors. His role includes funding, risk management and investor relations at group and at subsidiary level. The group has been active in the local and international bond markets, with an excess of $3.5bn issued over the last seven years. Declan was previously Head of Asset & Liability Management for HBoS Corporate in Edinburgh. He has held positions with Gulf Bank of Kuwait, the Kuwait Investment Authority, Ernst & Young, Kuwait and KPMG, London. He is a Fellow of the Association of Corporate Treasurers and the Institute of Chartered Accountants in England & Wales. He is also a Chartered Financial Analyst.


Oman team

Team leader: Ravi Narayanan, GM Treasury, Omantel

Ravi_NarayananRavi is qualified Chartered Accountant and CPA and has over 26 years of experience in Treasury and Finance functions notably in Media and Telecom industries across GCC countries. Ravi is now with Oman Telecommunications heading the Treasury unit and is involved in providing and implementing strategic directions to the fast growing Treasury functions including cash management, investments and corporate finance

Gary Slawther, Corporate Treasurer, OCTAL Petrochemicals

Gary_Slawther

Gary is a fellow of the ACT and has over 27 years of finance experience of which 19 have been in treasury across a diverse range of companies, principally multinational, including retail, manufacturing, engineering, logistics and FMCG. Now with OCTAL Petrochemicals in Oman, Gary is centrally involved with financing the growth and development of a technologically and environmentally driven company.


Qatar team

Team leader: Jacob Tharakan, Treasurer, Qatar Telecom

Jacob_Tharakan


Saudi Arabia team

Riyadh: Mark Holliday, Group Treasury Director, Dar Al Riyadh

Mark_Holliday_MEAC14

A seasoned and qualified corporate treasurer, Mark spent many years in various senior treasury roles in FTSE 100 companies as well as running a specialist consultancy company. Appointed in 2009 as Treasurer of the Saudi based Rawabi Holding Company, a key achievement was the financing of a start up marine operation that now has substantial fleet working for Saudi Aramco. In 2013 Mark joined Dar Al Riyadh a specialist engineering and architecture consultancy and diversified holding/trading company. Throughout his career, Mark has been heavily involved in all aspects of treasury, but never forgets the key role of multi currency cash management.

Jeddah: Edward Collis, Corporate Treasury, Head of Credit & Risk,Zahid Tractor and Heavy Machinery Company

Ed_Collis_MEAC14Edward Collis is Corporate Treasurer, Head of Credit & Risk at Zahid Tractor & Heavy Machinery. Zahid Tractor is the leading heavy machinery distributor in Saudi Arabia having been distributing Caterpillar machinery and equipment to virtually all public and private sectors in the Kingdom since 1950. Edward joined Zahid Tractor in November 2010. Prior to working for Zahid Tractor, Edward previously held senior Treasury positions with Virgin Atlantic Airways Limited and Rentokil Initial plc. Edward is a Chartered Accountant and a member of the Association of Corporate Treasurers.