arab bankers association of north america a n nua l

arab bankers association of north america 2006 a n nua l r epo rt arab bankers association of north america 2006 a n nua l r epo rt arab bankers association of north america 2 ta bl e o f c on t e n t s about abana president’s report membership committee programs committee dc committee communications committee strategy committee nominations committee board of directors board committees past presidents 3 4 6 16 27 28 29 The 2006 ABANA Achievement Award Dinner 30 31 34 35 2006 abana annual report 3 a bou t ab a na ABANA is a not-for-profit professional association with members from the broader financial services industry in the Arab world and North America. Through its programs, website and publications, ABANA fosters improved relations, informationsharing and understanding between the Arab and American public and private financial sectors. h i st ory In 1982, a group of Arab bankers identified a need for an association to foster professional exchange and promote the business interests of the Arab and Arab-American financial community in the United States. In 1983, the Arab Bankers Association of North America was launched with a membership of forty-five prominent professionals. ABANA’s membership now includes more than 60 institutions and 500 individuals. The membership has also expanded beyond the traditional definition of “Arab banker,” drawing in Arab and non-Arab professionals from the wider financial services and related sectors with activities in the United States and the Arab world. This diversity is reflected in the breadth of ABANA speakers and event topics over the years, and brings it recognition as the preeminent organization serving the American and Arab financial communities. James D. Wolfensohn mi ssi on ABANA’s principal objectives are: ■ to develop relations between the Arab and North American financial services industry through meetings, events and conferences; ■ to communicate economic and financial information between the financial services industry in the Arab world and in North America through its publications and website; ■ to support the education and growth of individuals working in or with the Arab financial community. (l-r): Rania Shehadeh and Yasameen Abdullah Ahmed Alsayad arab bankers association of north america 4 pres ident’s re port Dear Members and Friends, It is with great pleasure that we enclose ABANA’s 2006 Annual Report. This report highlights the many commendable achievements of our committees over the past year. I am very proud to have been elected ABANA’s twelfth president with effect from the beginning of the year. It has been a wonderful experience and, as you will see in the attached report, a very successful one as well. I have many people to thank for these accomplishments, beginning with my predecessor, Samer Khanachet, for both his actions during his tenure, and his encouragement and support since then. Samer is a member of a small, informal advisory board comprised of select past presidents and ABANA founders who have also been invaluable in their support and guidance. I am also extremely grateful to the entire ABANA Board for volunteering their valuable time and resources. In addition to their roles on the Board, all Board members serve on at least two of our various committees – Communications, DC, Membership, Nominations, Programs, Strategy and our Executive Committee. In an effort to tap into the great resources of our exclusive membership, some of our committees also included non-board members whose insights and efforts have greatly complemented our committees’ and to whom we extend our sincere appreciation. Of course, the collaboration of our highly accomplished Executive Director, Brenda Murad, and Membership and Events Coordinator, Adepeju Adeyemo, was also invaluable. Before reflecting on some of the many interesting programs we organized in 2006, I would like to recognize those leaving the Board this year: Issa Baconi, Mona Eraiba, Paul Homsy, Ammar Khalil, Samer Khanachet, Amr Nosseir and Mariam Said. All added great value and will truly be missed. ABANA’s membership continues to grow - a tribute to both the efforts of our Membership Committee and our fine programs, which in 2006 included two new networking series. Our conference this year focused on Middle East Capital Markets and provided many interesting perspectives on the investment 2006 abana annual report 5 opportunities and challenges in the Region. In October, we honored Dr. Mohamed El-Erian, President & CEO, Harvard Management Company, Inc., for his considerable accomplishments. We also had the privilege of welcoming such distinguished guests as H.R.H. Prince Turki Al-Faisal, the Saudi Ambassador to the US, and James Wolfensohn, former World Bank President and Special Envoy for Gaza Disengagement at our member luncheons. To further cultivate our membership and programs in the Washington, D.C., Maryland and Virginia areas, the ABANA DC Committee was established. The ABANA Review, produced by our Communications Committee, featured articles about the increasing investment in private equity in the Middle East. Our Strategy and Nominations committees continued to direct the course for the Association and the ABANA Foundation Board began laying the framework for its first initiatives. The Foundation’s two key areas of focus at present are providing post-graduate educational opportunities in the US and the MENA region to qualified students as well as establishing concentrated training programs in the Middle East on important banking topics such as credit analysis and compliance. Thanks to all of you, ABANA achieved much in 2006 and I know that, with your continued dedication, we will raise our organization to even higher levels of success in coming years. I look forward to serving you in 2007 and, as always, welcome your feedback at any time. Yours sincerely, Laura Osman arab bankers association of north america 6 members hip co mmitte e In 2006, the Membership Committee continued its successful efforts to grow ABANA’s individual, institutional and student membership. The Committee also continued to focus attention on attracting more female members. By year-end, the number of individual members had increased to 546, as follows: INDIVIDUALS Individual Institutional Student Honorary Total Hani N. Beyhum 2006 258 260 12 16 546 2005 208 258 19 16 501 2004 181 238 20 14 453 2003 138 235 13 14 400 The number of member institutions also grew by 11% to 62. INSTITUTIONS Renewals New Total 2006 50 12 62 2005 52 4 56 (l-r): Joanna Gontowska, Luiza Maria Carter and Arlette I. Kittaneh 2006 abana annual report 7 me mb e rship catego r ie s ABANA offers four types of memberships as outlined below. i n st i t utio nal memb er ship Companies in the banking and financial services or related industries with a business interest in the Arab world are eligible for the following benefits: ■ Invitations to private institutional events, such as exclusive luncheons with distinguished speakers; ■ Opportunities to sponsor or showcase institutional expertise at member events; ■ Corporate profile listing in the online ABANA Directory; ■ Introductory profile and updates in the ABANA Review; and ■ Up to five complimentary individual memberships. Additional employees may join ABANA at a 25% discount to the individual membership rate. Each individual member receives the benefits listed below. (l-r): Kevin Bannon and Laura Osman (l-r): Brenda Murad, Laura Osman and Issa Baconi i n di v i dual member s hip Professionals in the banking and financial services industries or related industries with a business interest in the Arab world are eligible for the following benefits: ■ Invitations to ABANA events held throughout the year; ■ Discounted rates at seminars, conferences and dinners; ■ Access to the online ABANA Directory; ■ Subscription to the ABANA Review; and ■ Listing in the ABANA Directory. s tu d e nt members hip Full-time students who are pursuing an advanced degree or are in the final year of undergraduate studies, and who demonstrate an intention to enter into a professional field related to the financial services industry, are eligible for all of the benefits of Individual Membership at a discounted rate, but do not vote in the annual election of directors. (l-r): Tarek K. Sherlala and Haitham K. Khaled h on o r ary membership ABANA grants honorary membership to special individuals who possess extensive professional experience and have rendered assistance to the association in the promotion of its activities and the achievement of its objectives. arab bankers association of north america 8 institutional members In 2006, ABANA welcomed 12 new institutions* to its ranks. Abu Dhabi International Bank American International Group Anchor Finance Group Arab Bank Arab Banking Corporation Arab National Bank ARAMEX International Courier Audi Saradar Private Bank Bank of New York Castle Harlan Cedar Capital Management Central Bank of Bahrain Citi Islamic Investment Bank Citibank Clinton Group Concord International Investments Group Covington & Burling Curtis, Mallet-Prevost, Colt & Mosle Deutsche Bank Dubai International Financial Centre Edgevision Capital Goldman Sachs & Co Gulf International Bank Gulf Investment Corporation Hogan & Hartson Integration Capital & Trade Investcorp International Islamic Development Bank JPMorgan Chase & Co. King & Spalding Kuwait Finance House *Italics denote new members. Hogan & Hartson on CFIUS Reform Lehman Brothers MashreqBank Merrill Lynch Morgan Stanley National Bank of Egypt National Bank of Kuwait National Bank of Pakistan Neuberger Berman OppenheimerFunds Overland Capital Group Perella Weinberg Partners PricewaterhouseCoopers Proctor Investment Managers Qatar Central Bank Qatar Financial Centre Authority Ramsey Quantitative Systems Riyad Bank Rock Crest Capital Samba Financial Group Saudi Arabian Monetary Agency SHUAA Capital The Capital Trust Group The Carlyle Group The Olayan Group The Rohatyn Group Tremont Capital Management UIB Capital United Gulf Bank United Gulf Management University Bank Wafra Investment Advisory Group 2006 abana annual report 9 individual members ABANA was pleased to add 159 new individuals* to its list of members in 2006. Hanan Aabid Alex Aama Mohannad Aama Salim A. Abboud Mahmoud Abd El Aziz Mahmoud Tarek F Abdel-Meguid . Abdo E. Abdo Cynthia Abdulelah Ghazi M. Abdul-Jawad Amer Sudki Abdullah Ahmed Abdullatif Atif A. Abdulmalik Amale Abi Saab John H. Abi-Habib Ramzi Y. Abi-Habib Mona Aboelnaga Kanaan Alain Aboudaram Sam Abraham Mike Abu-Faris Kemal M. Abul-Hawa, Esq. Bassam Aburdene Elias F Aburdene . Dr. Odeh Aburdene Hamed Abu-Zaher Nabil Achkar Syed Ajaz Ahmed Zahid Ahmed Thamer Aidi Richard Akwei Faisal Hamad Al Ayyar Anwar Mohammed Al Bader Maan Al Derazi Nasser Al Shaali Mohammad Al Shawwaf Maria Al Zahrani Sturgis Leila S. Alameddine *Italics denote new members. Abdullah Hussein AlAsousi Rasha A. Al-Aswad Shatha Adnan Al-Aswad H.E. Abdulla Bin Khalid Al-Attiya H.E. Khalid A. Al-Bassam Magda E. Albina Eisa M. Al-Eisa Omar H. Al-Farisi, Esq. Dr. Khaled M. Al-Fayez Ali Othman Al-Ghannam Abdul-Aziz A. Al-Ghurair Yamen Sami Al-Hajjar Abdlatif Y. Al-Hamad Sheikh Hamad Sabah AlHamad Al-Sabah Dr. Abdulrahman A. Al-Hamidy Dr. Ahmad Mohamed Ali Shafik Ali M.K. Alisdairi Dr. Amir Al-Khafaji H.E. Sheikh Ahmed bin Mohammed Al-Khalifa Malika Allali Omar R. Allam Steve Allen Wael Al-Mazeedi Emad Yousef AlMonayea Mohammad Sulaiman Al-Omar Hisham A. Al-Razzuqi Tariq Al-Rifai Nabil Hab Al-Rumman Hashim Abdulla Al-Saada Anwar Khawfa Al-Sadah Ahmed Abdulrab Al-Shaabi Mohammed E. Al-Shroogi Salman M. Al-Sudairi Jammaz Abdullah Al-Suhaimi Abdulaziz A. Al-Sulaiman H.E. Abdulla Bin Saud Al-Thani Fahad Faisal Al-Thani (l-r): George N. Jalinos and Issa N. Baconi Robert P. Haney, Esq. (l-r): Mona Aboelnaga Kanaan, Monir Barakat and David Wohabe, Esq. arab bankers association of north america 10 individual members (l-r): Samer S. Khanachet and John A. McKesson (l-r): George F. Hritz, Esq., Adepeju Adeyemo and Nneoma Nwogu Moajob Turki Al-Turki Harry L. Alverson Ijaz H. Alvi Abdullah Ahmad Al-Zabin Fady Amatoury Slimaine Ameziani Mireille Andrea Mohammad Zahoorul Ansari Toufic Aouad Elias Hadjadj Aoul Reina Arakji Ali H. Arar Anthony Artabane Hani Atassi Dr. Khalid Aboul Ateeq Ghassan M. Atiyah, Esq. Joseph G. Audi Raymond Audi Michael W. Avalos, CPA Karim A. Awad Robert Ayan, Jr. Lawrence J. Ayoub Murtaza Ayub Ahmer Azam Dr. Saad Na’man Azhari Eiman Aziz Bashar N. Azzouz Andre O. Backar Issa N. Baconi Nadine Baconi Khaldoun Baghdadi Karim Baghdady Ali M. Bajwa Abbas Baqueri Monir Barakat Anthony G. Barbuto Kenneth G. Bartels Michael Barz Basel Barzanji Andrew F. Bastone Raymond J. Batla, Jr. Gregga Baxter Wael O. Bayazid M. Rafiq Bengali Ricardo Benitez Driss Benkirane Tony G. Berbari Kerim Alain Bertrand Rebwar Berzinji Hani N. Beyhum Dr. Omar Bin Sulaiman Bachir Binebine Ramzi A. Bishuti George A. Bitar Marco A. Blanco, Esq. Gary A. Bleiberg Aslam S. Boolani Charles Bouloux Brad D. Bourland, CFA Philip A. Brown Charles L. O. Buderi Veronica Matta Byrnes Raymond S. Calamaro Charles H. Camp, Esq. Manuel Campos Galvan Sami Caracand Emmanuel Caravanos Luiza Maria Carter b e c om e a m e mber (l-r): Rasha A. Al-Aswad and Lama Al-Aswad Learn more about member benefits and fees at www.arabbankers.org. Applications for membership are available online or by contacting the ABANA office at (212) 599-3030 or membership@arabbankers.org. 2006 abana annual report 11 John K. Castle John Chamberlin Mohamed Chbani Camille A. Chebeir Diane Chehab Wa’el N. Chehab Nicolas E. Choueiri Louis Cina Lewis Cohen, Esq. James C. Coley Barry Hugh Colvin, CFA Spencer Compton Newell J. Cotton Christopher Crockett Alfred Cullen Jeffrey Ray Culpepper Katharine (“Kitty”) B. Cushing Ibrahim S. Dabdoub William Darwish Shailesh Kumar Dash Pierre H.R. Daviron Peter S. Davis Rehan A. Dawer Mike M. De Graffenried, III Don N. De Marino Raza Dean Dr. Richard A. Debs Anne Delforge David DeMartino John M. DeMilt Edward Demirjian Sonia Dereyan Ziad Dib Ronald M. Dickerman Anees T. Din Lamine Djilani Marinette Dorkhom Bruce Dozier Rima D’Sa Iyad Duwaji Dr. Robert M. Eid Hassan Eissa Mohamed El Beih Denise El Chaar Amal El Said Dr. Mohamed A. El-Erian Agab Elgadal Hafez Kamel El-Ghandour Joseph M. Elhilow Nichola Eliovits Rami Elkhatib Hisham H. El-Khazindar H.E. Dr. Abdullah El-Kuwaiz Ramy El-Menshawy Rami El-Rifai Mohamed Elshami Samir J. El-Tawile Mayada El-Zoghbi Neal M. Epstein Mona Eraiba Hal C. Eren Ghaleb O. Faidi Fawzi E. Farah Saleh Faraj Mohannad T. Farouky Ramadan Farrag Ahmed M. Fattouh Amine Fehmi Nazareth A. Festekjian Rami Fetouh Mohamed A. Fezzani Dr. Hani K. Findakly Robert Firth Thomas Fitzherbert Ben Flammang Nicholas Fortson John D. Freeman, Jr. James Freeth Peter Frey Gabriel R. L. Fysh Hesham Gad Faris S. Gammoh Werner R. Genieser Muhammad A. Ghafoor William F Ghazar . Dima N. Ghossaini (l-r): Hazar Sbinati and Tony Tooma (l-r): Dr. Richard A. Debs and Susan Peters arab bankers association of north america 12 individual members (l-r): Mayada El-Zoghbi and John Mikhael Louis M. Gidding James M. Godec Paolo S. Grassi Anthony T. Grecco Mohammed Grimeh Kevin Grimes Karim M. Guessous Barbara B. Guibord Isam Habbab Alberto Haddad Elias A. Haddad Nabil Hage Susan J. Hagerty Le May George Hall Khaled N. Hamdy, Ph.D. Robert P. Haney, Esq. Sherif Hanna Mohamed Haouache Samaa Haridi, Esq. Mohammad Haroon Sohail M. Hasan John O. Hatab Alex A. Hawat Masaud J. Hayat William S. Healy Heather Henyon H.E. Abbas Hilmi Dania Hinedi Richard Hobson John J. Hoey Joseph G. Homsy Paul C. Homsy, Esq. Shaia D. Hosseinzadeh Philip K. Howard George F Hritz . Sanjay Hundiwala Amin M. Husain, Esq. Omer Hussain Dr. Karim M. Hussein Raheel Iqbal Amin Issa Ismail Robert Ivosevich Randa A. Jaafar Dr. Paul Jabber Wael Jadallah Mohammad Jafar George N. Jalinos Matthew G. Jalinos Ezzat Jallad Tariq Jawad Abdo I. Jeffi Donald A. Jordan Jumana Judeh Dr. Andreas G. Junius George Kahale, III Habib Kairouz Muhannad W. Kamal Sheikh Saleh Abdullah Kamel Sabi Kanaan Cheikh Kane Tarik Kaoukji Nurzhan Kapparov Dr. George K. Kardouche Prasanth “KV” Karumanchi Latifa Kettani Haitham K. Khaled Sharif Abdel Khalek Hussein A. Khalifa Rym Khalifeh Ammar Khalil Fakhruddin Khalil Joseph Khalil Karim Khalil Samira Khalil Aamir H. Khan Samer S. Khanachet Ramsey A. Khattab Dr. Mohamad W. Khouja Rima Khoukaz Neddy Khouri William Khouri Rabih Khoury Raghed Khoury Nemir Kirdar Arlette I. Kittaneh Belkis Knudsvig 2006 abana annual report 13 Thomas Koch Nagy S. Kolta John Korthuis Douglas G. Kotelly Raed Kouki Jack Kowalczyk Yogesh Raj Kumar Matt Kuruvilla, MBA, Ph.D. Nathan Kutt, Esq. Ashraf Y. Laidi Jean-Claude Lanza Jack P. Levin George Liberopoulos Francis P. Lively Marwan Lutfi Nabil Maasarani Stuart MacDonald Frank A. Magnani Abdi Mahamedi Ziad Makkawi Taher D. Makkiyah Roya Malekian, Esq. Tariq Malhance Ali Malihi Imran Q. Malik Fawzi H. Malouf Falisha I. Mamdani Kenneth Manotti Lauree Elisa Mansour, Esq. Ibrahim A. Mardam-Bey Gregory Mariasch Nora Larhouasli Marrakchi Marwan A. Marshi Prof. Safwan M. Masri Charles Matar Scott C. Matchett Ondine L. M. McBurney Greg J. McCall Mark J. McCall John A. McKesson Robert J. McNeill Sherief Meleis Chris Meritzis Andrew M. Metcalf, Esq. Athar Mian Zaid A. Midani John Mikhael Kristin Miley Geoffrey Milton Umar F Moghul, Esq. . Ahmed Mohamed Iqbal Mohamed Shaneeza Mohamed Suleiman Mohammad Taj Mohammad Mahmoud Montasser Tarek Morad Walid Morad Dr. Edward L. Morse Ramzi A. Moufarej Sami Moughrabie Movin Moukbel Sadeer Munir John V. Murphy Walid Musallam Ahsan Nabi Ayesha Nabi Shujaat Nadeem Ghassan M. Atiyah, Esq. (l-r): Diane Chehab, Daniel Weihrauch and Dima Sidani (l-r): Na-il Tamimi and Mohammad Zahoorul Ansari refer a m e m b e r Encourage your friends and colleagues to join ABANA. When you refer new members, you expand their opportunities for professional growth and strengthen ABANA’s ability to achieve its goals. arab bankers association of north america 14 individual members (l-r): Dr. Mohamed A. El-Erian and Monir Barakat (l-r): Mahmoud Salem and Laura Osman (l-r): Nurzhan Kapparov, Kitty Cushing and Richard Akwei Joseph Nader Pierre G. Naggear George Naggiar, Esq. Hoda Naggiar Mohamed Naguib Wassim Nahas Raymond Najm Dr. Faraz Naqvi Wassim E. Nasrallah Ragai Nasser Mohsin Nathani Hiam Nawas Anjum Nisar Samir Nizam Mohamed A. Nooruddin Amr M. Nosseir Thomas W. Nugent Christopher J. O’Brien Charles Ogburn Hutham S. Olayan Michael P. Orscheln Laura Osman Benjamin E. Ostrom John P. Oswald Talat M. Othman Robert B. Pender, Jr. Joanna E. Peters Susan Peters C. William Phillips Neil Piekny Susan F Pollack . Alfred D. Porterfield Julie Price Amanda J. Pullinger Lubna Qunash Therese J. Rabieh Mujeebur Rahman Vincent Raniere Stephen L. Ranzini Tamer Rashad Waleed Aboul Rashdan Mazhar Raslan Atiq Ur Rehman Maged F Riad, Esq. . Rex Richardson Imran Riffat L. Christian Rigby Jack Rivkin Helenmarie Rodgers Manuel D. Ron Jean Francois Rouviere Paul E. Rowan Francis Ruchalski Abe Saad Salam I. Saadeh Wissam Wael Saadi Camile G. Saba Emile Saba Sana H. Sabbagh Deepak Sachdeva Ayman Safadi Joseph Richard Safra Mariam C. Said Isam Salah, Esq. Zeid Y. Salah Samer M. Saleh Attia Salem Mahmoud Salem Khawaja Mohammed Salman Younis Salim G. Samaha Nicholas Samara Antranig R. Sarkissian Samer Maher Sarraf Chris W. Satterfield Nick Savasta Dr. Ahmad A. Sbaiti Hazar Sbinati Marvin Schwartz Saida Seddaoui Rania V. Sedhom, JD Ayman Sejiny Darius Seo Dr. Samir Seraphim Berge Setrakian, Esq. Amro Mohammed Shaaban 2006 abana annual report 15 Khaled M. Shaheen Abdul Alim Shaikh Amjad Ali Shaikh Ayaz R. Shaikh Adnan Shamsi Muhammad Akram Sheikh Waheed Ahmad Sheikh Tarek K. Sherlala R.E. (Sandy) Shipton John Sickler Dima Sidani Nasim Siddiqi A. Rushdi Siddiqui Dr. Faizan Siddiqui David B. Siegel Pamela M. Sigda Suhail Sikhtian Chris Slechta Scott F Smith . Samer S. Solh Youssef Soliman Ernest Stern Thomas B. Stoecker Adnan Syed Eugene Szewczyk Hadi Tabbaa Tarek O. Tabbara Samir Tabet Omar Taha Karim Taleb, Ph.D., CFA Cesarina A. Templeton Keith Tenny Robert W. Thabit, Esq. Henry A. Thompson Robert W. Toan Pamela Tong Tony Tooma Paul N. Travis Ali Tulbah Malek Turk Chris Ullman Arif Usmani Babu Uthaman Sadek Wahba Jarett Wait Joann B. Walker Ibrahim Warde, Ph.D. Patrick Wayland Beth L. Weicman David Weiner Diederik J. K. Werdmolder David Wilkes H. Russell Wilks William F Williams . Thomas Benton Wilson Bayly Philip Winder Ambassador Frank G. Wisner David Wohabe, Esq. Omar Wohabe, Esq. Kurt Wolfgruber Ann Wyman Rudy Yaksick Hidemasa Yamakawa Karim Yehia Berj Krikor Yeretzian Charles F Yeterian . Mohamed S. Younes Tarek Younes David J. Young Asim Zafar Adham N. Zaki Dennis R. Zarr Hala Zeibak Richard P. Zimpfer, II Harbaoui Zoubier Liliane Zreik Abbas F Zuaiter . Ahmad F Zuaiter . Islam Zughayer Muhannad W. Kamal (l-r): Adepeju Adeyemo and Marvin Schwartz arab bankers association of north america 16 pro grams c ommit te e The Programs Committee organized a rich and exciting schedule of programs in 2006, including the following: J A N U A RY 1 8 , 2 0 0 6 Annual General Meeting The Harvard Club, New York City Outgoing ABANA President Samer Khanachet looked back on the events and accomplishments that defined the last three years of ABANA. Incoming President Laura Osman, the first woman and the youngest person to serve in this position, welcomed the newly elected Board members, and outlined her plan for the future. Board committee representatives also presented their annual reports to the general membership. MARCH 1 5 , 2 0 0 6 (l-r): Samer S. Khanachet, Laura Osman and Artranig R. Sarkissian A Global Economic Briefing Kevin J. Bannon, Executive Vice President and Chief Investment Officer, The Bank of New York The Princeton Club, New York City Kevin J. Bannon Mr. Bannon presented his current global economic analysis at this member luncheon. AP RIL 2 1 , 2 0 0 6 A Case Study in Economic Reform: Egypt H.E. Yousef Boutros-Ghali, Minister of Finance for the Arab Republic of Egypt, and Ahmed M. Saeed, Deputy Assistant Secretary for Africa and the Middle East International Affairs, U.S. Department of Treasury The Ronald Reagan and International Trade Center, Washington, DC H.E. Boutros-Ghali and Mr. Saeed discussed economic reforms in Egypt at a luncheon co-sponsored by the Arab Bankers Association of North America and the United States-Egypt Friendship Society. This event was made possible by the generous sponsorship of Concord International Investments Group. 2006 abana annual report 17 AP R I L 2 5 , 2 006 ABANA Annual Conference The Dramatic Growth of Middle East Capital Markets Hilton New York Hotel, New York City Leading analysts, advisors, issuers and investors examined the dramatic growth of the Middle East Capital Markets during ABANA’s 2006 Annual Conference. This half-day event featured keynote speakers Brad Bourland, Chief Economist of SAMBA Financial Group, and Dr. Mohamed A. El-Erian, President & CEO of Harvard Management Company. The conference brought together members of the Arab and American financial community, providing a solid introduction into the rapidly expanding capital markets of the Middle East. PA RTI C I PAT I N G PATRON Brad D. Bourland SHUAA Capital S P O NS O R S Andrew Cunningham The Bank of New York Beltone Financial Group Concord International Investments Group Hogan & Hartson S U PPO RT E R S Simmons & Simmons Wataniya Telecom Weil, Gotshal & Manges Dr. Mohamed A. El-Erian M E D I A S P O N SOR Oxford Business Group arab bankers association of north america 18 p r o g r a m s c o mmittee CONFERENCE SP EAKERS (l-r): James Cole, Salam I. Saadeh and Ahmed Y. Haleem H.R.H. Prince Turki Al-Faisal Brad D. Bourland Chief Economist, SAMBA Financial Group James Cole UK Capital Markets Partner, Weil, Gotshal & Manges Dr. Mohamed El-Erian President and CEO, Harvard Management Company Aly El-Tahry Co-Founder, Beltone Financial Group Ahmad Y. Haleem Chief Executive Officer, Wataniya International Michael Hartnett Chief Global Emerging Markets Equity Strategist, Merrill Lynch & Co. Andrew Jeffreys Editor-in-Chief, Oxford Business Group Samer S. Khanachet President, United Gulf Management, Inc. Laura Osman Partner and Managing Director, Concord International Investments Group Salam I. Saadeh Managing Director, Capital Markets, SHUAA Capital Mahmoud Salem Vice President, Business Development and Relationship Management, The Bank of New York Karim Sawabini Managing Director, Moon Capital Management Walid Shihabi Head of Research, SHUAA Capital AP RIL 2 7 , 2 0 0 6 Insights into Saudi Arabia H.R.H. Prince Turki Al-Faisal, Ambassador of the Kingdom of Saudi Arabia to the United States The Brook Club, New York City At this Institutional Member luncheon, H.R.H. Prince Turki Al-Faisal discussed the economic environment in the Arab world and, in particular, Saudi Arabia and the importance of strengthening ties between the financial communities in the United States and the Arab world. We thank The Carlyle Group and The Olayan Group for their kind sponsorship of this event. 2006 abana annual report 19 M AY 1 6 , 2 0 0 6 Reflections of an International Civil Servant James Wolfensohn, Former World Bank President and Special Envoy for Gaza Disengagement The Yale Club, New York City Mr. Wolfensohn, the ninth World Bank President and former Special Envoy for Gaza Disengagement, reflected on his work as an international civil servant, and provided his insights into world affairs at this member luncheon. This event was made possible by the generous sponsorship of Arab Bank plc. J UNE 1 4 , 2 0 06 James D. Wolfensohn ABANA Summer Reception Bryant Park Grill, New York City More than 200 ABANA members and their guests gathered to catch up with old friends and meet new ones at this annual event held on the rooftop of the Bryant Park Grill. J UNE 2 7 , 2 0 06 (l-r): Amena Nabi, Ayesha Nabi, Raza Dean, Deena Burjorjee and Diane Chehab A Legendary Value Manager Marvin Schwartz, Managing Director of Neuberger Berman Lehman Brothers, New York City Mr. Schwartz, a legendary money manager who has ranked among the top value managers in the world, presented his engaging and informative analysis of current and future trends in the U.S. market during a special ABANA membership luncheon. We extend our thanks to Neuberger Berman / Lehman Brothers for their generous hospitality. (l-r): Marvin Schwartz and Kitty Cushing arab bankers association of north america 20 p r o g r a m s c o mmittee JULY 1 9 , 2 0 0 6 ABANA at Naples 45 Naples 45, New York City ABANA launched a series of small-scale and cash bar networking receptions held at select venues around New York City with this inaugural “ABANA at…” event which attracted more than 75 ABANA members and their guests. (l-r): Ghassan M. Atiyah, Esq. and Brenda Murad JULY 2 7 , 2 0 0 6 ABANA in the Boardroom Abbas F (“Eddy”) Zuaiter, Chief Operating Officer, Soros . Fund Management Soros Fund Management, New York City ABANA in the Boardroom, an exclusive educational opportunity designed to strengthen our network of accomplished professionals, was launched in 2006. Through these series of small boardroom luncheons, members will meet senior ABANA professionals, share a meal, and discuss the current marketplace, a specific financial service sector or career development. Mr. Zuaiter of Soros Fund Management hosted the first luncheon and through lively discussions covered topics ranging from the economic development of the region to suggestions for ABANA’s continued growth. JULY 2 8 , 2 0 0 6 (l-r): Sherif Hanna, Magda E. Albina and Lawrence J. Ayoub’ ABANA in the Boardroom (l-r): Thamer Aidi, Salman M. Al-Sudairi and Omar Wohabe, Esq. Laura Osman, Partner and Managing Director, Concord International Investments Group Concord International Investments Group, New York City ABANA President Laura Osman hosted the next ABANA in the Boardroom luncheon on July 28th. While getting acquainted with the members who attended, she focused the dialogue on the needs of the general membership and obtained suggestions for how ABANA can fulfill them. 2006 abana annual report 21 AUG U S T 1 , 2006 Welcoming Middle East Partnership Initiative Students Morgan Stanley, New York City ABANA members welcomed 22 students at this evening reception as part of the Middle East Partnership Initiative’s Leadership Institute, hosted by Dickinson College. Academic Director, Professor Harry Pohlman, and students from 10 countries in the Middle East region participated in this year’s Institute. This event was made possible by the generosity of Morgan Stanley. S E PTE MB E R 14, 2006 (l-r): Emad Daher, Deimah Muhammed Al Ali, Meriam Mezghanne and Alaa Nijim A Forum on CFIUS Reform Jeanne Archibald, Esq., Managing Partner at Hogan & Hartson, and Gay Hartwell Sills, Director of the Office of International Investment at the U.S. Treasury Department and staff chair of the Committee on Foreign Investment in the United States (CFIUS) Hogan & Hartson, Washington, D.C. Ms. Archibald and Ms. Hartwell Sills joined ABANA members for a special breakfast forum to discuss important and timely issues relating to CFIUS reform. These speakers reviewed the legislative climate, the proposed process and structure and answered member questions during a vibrant question and answer session. Special thanks to Hogan & Hartson LLP for their generous sponsorship of this event. Jeanne Archibald, Esq. arab bankers association of north america 22 p r o g r a m s c o mmittee (l-r): Mohsen Fahmi and Peter Tomozawa (l-r) Laura Osman, Dr. Mohamed A. El-Erian and Tarek F. Abdel-Meguid OCT OBER 4 , 2 0 0 6 2006 Achievement Award Dinner & Reception (l-r): Kazem Paksima, Hamad Haider and M. Rafiq Bengali Honoring Dr. Mohamed A. El-Erian, President and Chief Executive Officer, Harvard Management Company The New York Palace, New York City Dr. El-Erian received the Arab Bankers Association of North America 2006 Achievement Award. The prestigious ABANA Achievement Award was presented to El-Erian during a ceremony attended by more than 300 international dignitaries and business leaders. Dr. El-Erian was introduced by Tarek Abdel-Meguid, a founding partner of Perella Weinberg Partners, who described the recipient as “a Renaissance man” and recounted his extraordinary career to date. Dr. El-Erian joins an impressive list of past ABANA Achievement Award recipients. 2006 abana annual report 23 PAST ACHIEVEMENT AWARD RECIPIENTS 2005 Faisal Hamad Al-Ayyar Kuwait Projects Company (Holding) 1994 Nemir A. Kirdar Investcorp 2004 Lubna S. Olayan Olayan Financing Company 1993 Abdlatif Youssef Al-Hamad Arab Fund for Economic & Social Development (l-r): Ellen C. Mathias, Paul McCulley and Melissa Thompson 2003 Dr. Richard A. Debs Morgan Stanley International 1992 Suliman Al Olayan The Olayan Group 2002 Dr. Abdullah El-Kuwaiz Islamic Development Bank 1990 Abdulla A. Saudi Arab Banking Corporation 2000 Prince Alwaleed Bin Talal Bin AbdulAziz Alsaud Kingdom Holding Company 1989 A. Robert Abboud A. Robert Abboud & Co. The 2006 ABANA Achievement Award Dinner 1999 William R. Rhodes Citigroup/Citibank 1988 Mohamed Abdul Mohsin AlKharafi National Bank of Kuwait 1998 Ghazi Abdul Jawad Arab Banking Corporation 1987 Salim Ahmed Bin Mahfouz The National Commercial Bank (l-r): Rudolph-Riad Younes, Katsiyarina Taran and Robert Morier 1997 Mahmoud Abdel Aziz National Bank of Egypt 1986 Dr. Mohamed Abushadi Al-Ubaf Group 1996 Dr. Khaled Al-Fayez Gulf Investment Corporation 2002 1986 Abdul Majeed Shoman Arab Bank 1995 Ibrahim S. Dabdoub National Bank of Kuwait arab bankers association of north america 24 p r o g r a m s c o mmittee NOV EMBER 1 4 , 2 0 0 6 ABANA at Pera Pera Mediterranean Brasserie, New York City ABANA continued its popular “ABANA at …” networking event series with a reception at Pera, which was attended by more than 90 members and their guests. NOV EMBER 1 6 , 2 0 0 6 A Forum on CFIUS Reform (l-r): Khaled N. Hamdy and Sami Moughrabie Jeanne Archibald, Esq., Managing Partner at Hogan & Hartson, and Charles G. Schott, Deputy Assistant Secretary of International Trade & Investment Policy, U.S. Treasury Department Hogan & Hartson, New York City In a special repeat performance of our September 14th event, Ms. Archibald and Mr. Schott hosted a working luncheon to address the issue of CFIUS Reform. (l-r): Amal El Said, Reem Abbassi and Islam Zughayer DECEMBER 1 1 - 1 3 , 2 0 0 6 US-MENA Private Sector Dialogue on AML/CFT Federal Reserve Bank, New York City More than 300 participants attended the second US-MENA Private Sector Dialogue (PSD) conference on anti-money laundering and combating the financing of terrorism (AML/ CFT). Sponsored by the Union of Arab Banks, Middle East/ North Africa Financial Action Task Force (MENAFATF), Arab Bankers Association of North America, and American Bankers Association (ABA), this conference was held with the enthusiastic support of the U.S. Department of the Treasury and Federal Reserve Bank of New York. Charles G. Schott 2006 abana annual report 25 (l-r): Dima N. Ghossaini and Magda Albina (l-r): Neeta Thakur, Thomas B. Stoecker, Rasha A. Al-Aswad, Amal Oummih and Lama A. Al-Aswad (l-r): Habib Kairouz and Myriam Kairouz Aucar DE CE MB E R 13, 2006 ABANA Holiday Party The Yale Club, New York City More than 200 ABANA members and their guests gathered to celebrate the end of the year at this annual event. propose an event Contact ABANA at (212) 599-3030 or info@arabbankers.org with recommendations for future events and speakers. arab bankers association of north america 26 benefactors ABANA thanks the following organizations for their generous support in 2006. Arab Bank The Bank of New York Beltone Financial Group Cedar Capital Management Concord International Investments Group Goldman Sachs Gulf International Bank Hogan & Hartson JPMorgan Chase Julius Baer Investment Management King & Spalding Neuberger Berman / Lehman Brothers Merrill Lynch Moon Capital Management Morgan Stanley National Bank of Egypt National Bank of Kuwait Old Lane Oxford Business Group Pacific Investment Management Company Perella Weinberg Partners Rho Capital Partners SHUAA Capital Simmons & Simmons Wataniya Telecom Soros Fund Management The Carlyle Group The Olayan Group UBS Investment Bank United Gulf Management Wafra Investment Advisory Group Weil, Gotshal & Manges (l-r): Andrew Jeffreys and Michael Hartnett Richard Clarida, Yingying Zheng and Terrence Keeley sponsor an event ABANA offers various opportunities for companies to reach out to our members while supporting the valuable luncheons, conferences, dinners and receptions we host each year. Event sponsors receive broad acknowledgement at our events and in our publications. Partnership and sponsorship benefits vary and can be tailored to the needs of a particular patron. Firms interested in sponsorship opportunities should contact the ABANA office at (212) 599-3030 or info@arabbankers.org. 2006 abana annual report 27 d c c o m m i ttee (l-r): Marvin Schwartz and Laura Osman (l-r): Wael O. Bayazid, Philo Dibble and Ambassador Richard L. Baltimore III The DC Committee was formed in 2006 to expand ABANA’s membership and event offerings in the Washington, D.C., Virginia and Maryland areas. By year-end, the committee had increased membership in the area by more than 40% from 16 to 23. The committee also planned and successfully held ABANA’s first DC-area event, with the support of Hogan & Hartson. The September 14th breakfast discussion on CFIUS Reform led by Jeanne Archibald of Hogan & Hartson and Gay Hartwell Sills of the US Treasury Department was so well-received it was repeated as a luncheon in New York City on November 14th. arab bankers association of north america 28 co mmunic ation s co mmitte e The Communications Committee maintains the ABANA website and publishes the ABANA Review, both of which play an important role in promoting the exchange of information among our membership and our wider constituency. The ABANA website continues to attract a record number of visitors yearly, with our online Membership Directory, increased event coverage and discounts and member services, including job and resume postings. Issa N. Baconi Each edition of the ABANA Review continues to present an in-depth look at a subject of interest to our membership. The Fall 2006 ABANA Review was published in September and featured articles on the rapidly growing private equity industry in the Middle East, including analysis by some of the region’s most experienced players. (l-r): Mahmoud Montasser and Oktay Ersin advertise in the abana review ABANA’s financial review magazine Distributed to over 2000 US and 800 global readers Largely international banking and finance professionals Possibly the perfect audience for your firm’s services or products? Rates: Full Page $1000 | Half Page $500 | Quarter Page $250 To place an ad in the ABANA Review, call 212.599.3030 or email info@arabbankers.org. 2006 abana annual report 29 s tr at e g y co mmittee (l-r): Zeina Mobassaleh, Laura Osman, Andia Kallashi, Nadine Baconi and Dima Sidani (l-r): Samer S. Khanachet, Paul C. Homsy, Esq. and Abbas F. Zuaiter (l-r): Samir Nizam, George N. Jalinos and Gregga Baxter The objective of the Strategy Committee is to help guide the direction of ABANA. In 2006, the Committee considered ABANA’s current stage of development and outlined a strategic course of action for the next three to five years. (l-r): Kitty Cushing and Thomas B. Stoecker arab bankers association of north america 30 no minatio n s co mmitte e (l-r): John Garrett, Harry L. Alverson and Nagy S. Kolta (l-r): Mahmoud Salem and Hani N. Beyhum The Nominations Committee chooses the ABANA Achievement Award recipient and nominates candidates for the Board of Directors. For the past 20 years, the ABANA Board of Directors has each year chosen to honor an exceptional individual for his or her significant contributions to the financial services industry in the Arab world by presenting him or her with the ABANA Achievement Award. Each candidate is also chosen based on the breadth and depth of his or her achievements in economic development, charitable and public service. In 2006, the Board chose to honor Dr. Mohamed El-Erian, President and CEO of the Harvard Management Company. nominate a board member ABANA encourages its members to recommend 2008 Board candidates. Contact Nominations Committee Chair Monir Barakat at nominations@arabbankers.org. 2006 abana annual report 31 boa rd o f directo rs The Board and its committees meet regularly to conduct the affairs of the Association. Each year, ABANA members elect approximately one-third of the Board of twenty-one directors. New Board members are announced at the annual meeting, which is held in New York City every January and is open to all members. The Board, in turn, elects its officers. Profiles of current Board members are available at www.arabbankers.org. 2 0 0 6 of ficers an d dir e c t o r s P R E S I DE NT V ICE P RESIDENT Laura Osman Concord International Investments Group Prof. Safwan M. Masri Columbia University VIC E P R E S I DEN T SECRETARY Mona Aboelnaga Kanaan Proctor Investment Managers Paul C. Homsy, Esq. Guibord & Homsy, LLP VIC E P R E S I DEN T T REASURER Robert P. Haney, Esq. Covington & Burling John O. Hatab Gotham Capital Associates arab bankers association of north america 32 board of directors Harry L. Alverson The Carlyle Group Hani N. Beyhum The Olayan Group Issa N. Baconi Arab Bank plc Wa’el N. Chehab Cedar Capital Management, Inc. Monir Barakat Wafra Investment Advisory Group Mona Eraiba Trust Company of the West Wael O. Bayazid The Carlyle Group Habib Kairouz Rho Capital Partners 2006 abana annual report 33 Ammar Khalil National Bank of Kuwait Mariam C. Said Samer S. Khanachet United Gulf Management, Inc. A. Rushdi Siddiqui Dow Jones Indexes Nagy Kolta Abu Dhabi International Bank Abbas F. (“Eddy”) Zuaiter Soros Fund Management Amr M. Nosseir Perella Weinberg Partners arab bankers association of north america 34 board co mmitt ee s exec u tiv e committ ee Laura Osman, CHAIR Mona Aboelnaga Kanaan Robert P. Haney, Esq. Prof. Safwan M. Masri Paul Homsy, Esq. John O. Hatab (l-r): Ramzi A. Bishuti and Rima Bishuti membershi p co mm i ttee Ammar Khalil, CHAIR Habib Kairouz Nagy Kolta Haitham Khaled Mariam C. Said Tarek Sherlala Abbas F (Eddy) Zuaiter . Mona Aboelnaga Kanaan, EX OFFICIO commu n icat ions committ ee Mona Eraiba, CHAIR Harry L. Alverson Wa’el Chehab John O. Hatab Paul C. Homsy, Esq. Samer S. Khanachet Amr Nosseir Robert P. Haney, Esq., EX OFFICIO n o m i nati o n s co mm i ttee Samer Khanachet, CHAIR Issa Baconi Monir Barakat Wael O. Bayazid Hani N. Beyhum Ammar Khalil Abbas F (Eddy) Zuaiter . Prof. Safwan Masri, EX OFFICIO (l-r): Asad A. Husain and Tamam Barhoush d c c ommit te e Harry L. Alverson, CO - CHAIR Nagy Kolta, CO - CHAIR Kemal Abul-Hawa, Esq. Ghassan M. Atiyah, Esq. Charles M. Camp, Esq. Dr. Hani Findakly Sadeer Munir Amjad Ali Shaikh Ali Tulbah David Young Robert P. Haney, Esq., EX OFFICIO p ro grams co mm i ttee Wa’el Chehab, CHAIR Mona Eraiba Paul C. Homsy, Esq. Amr Nosseir Mariam C. Said A. Rushdi Siddiqui Mona Aboelnaga Kanaan, EX OFFICIO strategy co mm i ttee Issa Baconi, CHAIR Monir Barakat Wael O. Bayazid Hani N. Beyhum John O. Hatab Habib Kairouz Prof. Safwan Masri, EX OFFICIO 2006 abana annual report 35 pas t p r e sidents 1983-84, 1987 Fakhruddin Khalil F Khalil & Co . FOUNDING PRESIDENT 1995 Ziad K. Abdelnour Blackhawk Partners 1995-96 Isam Salah, Esq. King & Spalding 1997-99 Antranig R. Sarkissian Citibank 2000-02 Dr. Hani K. Findakly Clinton Group 2003-05 Samer S. Khanachet United Gulf Management 1985-86 Talat M. Othman Grove Financial 1988-89 Taher D. Makkiyah 1990-91 Issa N. Baconi Arab Bank 1992 Camille A. Chebeir Sedco Services 1993-94 Monir Barakat Wafra Investment Advisory Group Camille A. Chebeir arab bankers association of north america 36 contact us a r a b ban k ers assoc i ation of north america www.arabbankers.org info@arabbankers.org S E NIO R P R OGRA M S COO R D I N AT O R Adepeju Adeyemo aadeyemo@arabbankers.org Tel: 212 599-3030 Fax: 212 599-3131 The 2006 ABANA Holiday Celebration M A I L IN G A DDRESS P.O. Box 2249 Grand Central Station New York City, NY 10163 O F F IC E A D DRESS 420 Lexington Avenue Suite 2034 New York City, NY 10170 CR E D IT S PH OT OGR A PH Y Tony Cretaro GR A PH IC D E S IGN Design 158 a r a b ban k ers asso c iat io n o f no rt h a m e r i c a 420 Lexington Avenue Suite 2034 New York City, NY 10170