The Advisory Panel

Meet the ACT Treasury Network Middle East Advisory Panel

Chaired by Matthew Hurn, Chief Financial Officer, Alternative Investments & Infrastructure at Mubadala Investment Company, the ACT Treasury Network Middle East Advisory Panel was developed to provide the ACT team with on the ground intelligence and guidance. The panel 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 treasury and finance community.




Matthew Hurn FCT, Chief Financial Officer, Alternative Investments & Infrastructure, Mubadala Investment Company

Matthew is the Head of Finance for the Group’s Emerging Sectors platform which incorporates Mubadala interests in Real Estate and Infrastructure, healthcare, Mubadala Capital and Enterprise Technology and Services. Prior to this Matthew was the Group Treasurer with responsibility for treasury, financial risk management 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.

Abu Dhabi (UAE) team

Adam Boukadida, Senior Vice President Treasury, Tax and Finance, Etihad Airways

Adam Boukadida is the Senior Vice President Treasury, Tax and Finance 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.

Alastair Fiddes, Head of Treasury, Mubadala Development Company

Alastair Fiddes is Head of Treasury at Mubadala Development Company with responsibility for the company’s treasury, financial risk management and insurance activities. Alastair has been at Mubadala since 2009 and prior to that worked in Abu Dhabi for InvestAD as head of Balance Sheet Management. The majority of his experience was gained in the UK Financial Services sector where he held a number of positions with a focus on risk management, asset management, treasury, finance and internal audit. He has overseen the creation and development of a number of treasury teams, implemented several instances of treasury systems and their ecosystems and has a wealth of experience in structuring, advisory and execution across a variety of asset classes. As well as being a qualified member of the Association of Corporate Treasurers, Alastair is also a qualified member of the Association of Chartered Management Accountants, holds an honours degree in Business Studies as well as Investment Management qualifications.

Riyad Hammad, Treasury Director, Arabtec

Riyad 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.

Gary Slawther, Treasury Director, Arabtec

Gary has thirty years of finance experience, with twenty two of those being in treasury. Originally qualifying as a Chartered Accountant, Gary became a Member of the ACT in 1996 and was awarded Fellowship in 2007. He has held a number of senior treasury roles in a range of industries including manufacturing, engineering, logistics, FMCG and retail with companies such as Michelin, Matalan and Mitsubishi Corporation subsidiary Princes Group, as well as working extensively with private equity. The range, and very often challenging requirements, of the roles Gary has undertaken has positioned him very much as a “special situations” treasurer. Gary has been in the GCC region since 2011, firstly with fast growing, innovative PET manufacturer OCTAL in Oman and, since early 2017, with DFM listed Arabtec Holding PJSC in Abu Dhabi.

Anissa Teemul, Treasury Analyst, National Investment Corporation

Anissa has over 12 years’ experience in treasury, beginning her career in liquidity management with financial institutions in her native country, Trinidad. She has been in Abu Dhabi for over nine years and spent eight of those at National Central Cooling Company where she was responsible for treasury related activities such as banking relationships, budgeting, hedging, daily liquidity management and cash forecasting. In 2016, she completed the AMCT qualification and has recently started working with property developer National Investment Corporation in treasury and investments.

Roshun Tulkens, Group Treasurer, Mantrac Group

Roshun Tulkens is the Group Treasurer for Mantrac Group; an authorized Caterpillar dealer, selling across three continents. Originally from the UK, Roshun has lived in the UAE since 2014. Prior to Mantrac, Roshun was at RB and joined to implement a regional treasury in the region, responsibilities include all areas of international treasury and risk management. Prior to this Roshun was based in the UK, working for Burberry, with front, middle and back office responsibilities. Previous companies include Rexam where he supported the roll out of a TMS, for which they won the Large Cap Treasury Team of the Year award. Roshun is a Fellow of the Association of Corporate Treasurers, he became AMCT qualified in 2012 and obtained his MCT Diploma in February 2015.

Mike Wallace, Director of Corporate Finance and Treasury, Aldar Properties

Mike has recently joined Aldar Properties in Abu Dhabi as Director of Corporate Finance and Treasury. Mike is an accountant by training and a Member of the Association of Treasurers, and has spent the last 20 plus years in Treasury. Prior to joining Aldar Mike was Group Treasurer at Intu Properties plc, a c.US$15bn retail property REIT in the UK and before that spent 10 years as Group Treasurer for Marks and Spencer plc, the c.US$16bn UK FTSE 100 retailer.

Bahrain team

Kevin Murphy

Kevin has over 20 years of experience in the areas of international treasury engagements, risk management, balance sheet management (ALM), financial analysis & reporting and stakeholder management. Kevin has also advised on capital structures, arranged capital raisings, developed complex financing options and negotiated restructurings. He has extensive experience in managing treasuries and treasury operations, as well as driving a broad range of diversified debt, equity and liquidity initiatives in global markets. Kevin has had extensive interactions with internal and external stakeholders, clients and rating agencies on an international stage. He is a skilled and highly-regarded advisor maintaining close interaction with CEOs, Executive Committees and Boards in devising strategic direction, balance sheet structures, asset allocation, investment management and risk mitigation. Kevin has a Masters in Applied Finance, is a Certified Finance and Treasury Professional and a Certified Financial Technician.

Dubai (UAE) team

James Adams, Group Treasurer, Chalhoub Group

James is the Group Treasurer at Chalhoub Group; a leading partner for luxury across the Middle East, expert in retail, distribution and communication. He is responsible for all aspects of Treasury and has recently led several projects to establish the new function within the firm. Prior to joining Chalhoub in 2014, James was a Senior Manager in the Deloitte Treasury Advisory team based in London. He has worked with Group Treasurers and CFOs at a variety of companies in the UK, Europe, Middle East, North America, Russia and Asia. His particular areas of interest are Treasury Systems, Risk Management and Treasury Strategy. James is a Fellow of the Association of Corporate Treasurers and a Chartered Management Accountant. He studied at Royal Holloway, University of London, where he completed a BSc in Economics and MSc in Financial and Industrial Economics.

Laura Ford, Senior Treasury Manager, Majid Al Futtaim

Laura Ford is Senior Treasury Manager at Majid Al Futtaim , one of the largest developers and operators of shopping malls and hypermarkets in the MENA region. She has led a number of financial system implementations and cash management initiatives and is currently responsible for funding. Prior to joining MAF in 2008, Laura was based in the UK, in the European Treasury Centre of Cargill Plc, a multinational producer of food and agricultural products. Laura has 14 years of Corporate Treasury experience. She holds a Certificate in International Treasury Management from the ACT.

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

Lourie 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.

Raphael De Ricaud

Raphael 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

Andrew is a trusted business partner who provides independent financial counsel to public companies, multinationals, family firms and Government Organisations in a variety of industries. He has spent the past 30 years growing the business of KPMG through building relationships in North America, Oman and for past 18 years in the UAE. Andrew inspires change to deliver profitability targets and maintain healthy working capital positions through expert project management leadership. He has significant experience in acquisition transactions and more recently on sustainability and has lectured several times on these topics. He is accredited in the application of IFRS, US GAAP and SOX standards for reliable financial data, risk mitigation, & strong decision support.

Arun Singh, Corporate Treasurer, Aramex

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 the ACT's AMCT Diploma in Treasury.

Diana Wilde

Diana has over a decade of business development experience in the Middle East including 7 years working for the Association of Corporate Treasurers. Diana joined the Structured Trade Finance team at Archer Daniels Midland Company (NYSE: ADM), one of the world’s largest agricultural processors and food ingredient providers in April 2018. She is in charge of building relationships with banks and other financial institutions in EMEA. She also acts as an advisor to HH Sheikha Shamma bint Sultan bin Khalifa Al Nahyan, founder of the Women’s Empowerment and Equality Board (WEEB).

Kuwait team

Andrew, Group Treasurer, Agility

Andrew 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 founder member of ACT Middle East.

Declan Sawey, Group Treasurer, KIPCO

Declan 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

Michael Clifford, Group Chief Financial Officer, Oman Oilfield Supply Centre

Michael is currently the Group Chief Financial Officer at Oman Oilfield Supply Centre LLC (“OOSC”) with responsibility for group finance and the family office. Prior to OOSC, Michael was CFO at ALSA Engineering & Construction LLC and acted as non-executive advisor to Big Bus Tours where he led a divestment transaction to exit the existing shareholders. Michael has also worked in senior financial and investment roles for Al Fahim, one of the largest family groups in Abu Dhabi. He oversaw all treasury activity and was responsible for the establishment of the treasury function and formalisation of treasury policy and practices. He previously worked with Deloitte throughout the Middle East after qualifying as an accountant in Ireland. Michael is fellow of the ACCA and an associate member of the ACT.

Ravi Seshan, Omantel

Ravi 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.

Qatar team

Fadey Abi Daoud, College of the North Atlantic

Fadey is currently an instructor at the College of the North Atlantic – Qatar. He teaches courses in the School of Business Studies, including Microeconomics and Macroeconomics. He’s lived in Qatar for over three years. Before teaching, Fadey’s roles revolved in three main areas, Treasury, Commercial Lending, and Trading Operations. Fadey was the Treasurer at the Municipal Group of Companies before relocating to the Middle East. As Treasurer, his role revolved around cash management, intercompany financing, and credit administration. Fadey was also the Financial Analyst in the treasury department at Emera Inc. Fadey has been involved in Commercial Lending, first at CIBC in Halifax Nova Scotia, and more recently at Barclays in the UAE. He’s lived in Toronto and Abu Dhabi, and is now located in Qatar. He is active in coaching his son’s soccer teams, and enjoys getting involved in community events. A seasoned professional, Fadey brings new insights and a logical perspective to the panel.

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