Dubai, UAE; May 26, 2021: The Family Business Council Gulf (“FBCG”) today announces the appointment of its Chairman, Omar Alghanim, as a new board director at the Family Business Network International (“FBN”).
The appointment marks the first time a GCC representative has been elected to the international board of FBN, the global affiliate of FBCG. FBN is the largest worldwide network of family businesses with a membership of more than 4,000 families and 16,000 individuals across 50-plus countries.
H.E. Abdul Aziz Al Ghurair, Chairman Emeritus of the FBCG, said Mr Alghanim’s active role in building the family business community in the Gulf was decisive in the awarding of a seat on the global board of directors
“As a Founding member and Chairman of FBCG, Omar has helped drive our expansion throughout the GCC, so that today our board includes some of the most respected family business owners in the region. His experience in leading an inter-generational business and improving governance will be an asset on the global board”.
Mr Alghanim said that over his three-year term on the board he intends to build closer ties between the Gulf members and FBN’s global community, create a financially sustainable model for the global chapter, and engage members in new ways to strengthen their governance during a moment of great change.
“I’m honoured to join the FBN’s global board. Economies around the world are building back from the COVID pandemic with greater emphasis on a sustainable model for future generations. Family businesses will have a huge bearing on this transition, and I will work to ensure that our members benefit from global insights and lessons, and vice versa”.
With a membership spanning all six GGG states, FBCG businesses play an important role in the GCC. Research by the International Monetary Fund shows that family-owned businesses contribute 60 percent of the region’s gross domestic product and employ more than 80 per cent of the workforce.
Mr Alghanim joins business and philanthropic leaders on the FBN board. They include Alex Scott from Applerigg in the UK, Alessandra Nishimuro of Brazil’s Jato Group, Philipp Grodner of Simone Perele in France and Joaquin Uriach, from Spain’s Grupo Uriach.
About Family Business Council – Gulf:
The Family Business Council Gulf (FBCG) is a private, not-for-profit organisation aiming to strengthen the governance of family businesses and ensure their lasting continuity. The Council seeks to identify and address issues unique to the GCC region, through research, education and networking. FBCG is a member of a worldwide organisation – the Family Business Network International (FBN) – the largest global network “by families, for families together across generation” representing leading business families all over the world.
Biography
Omar Kutayba Yusuf Alghanim is Founder and Chairman of YAKOA, an impact investment fund.
It pursues a strong set of values, developed and nurtured over four generations of the Alghanim International family business. The fund seeks to bring about positive change in the GCC.
Omar has lived, studied and worked around the world, in the Middle East, Europe and US. He brings a global outlook to business, whilst remaining true to the ethos and history of GCC and MENA.
Prior to founding YAKOA, Omar held a number of senior positions, including CEO of Alghanim Industries and Chairman of Gulf Bank. Beginning with his first job as an M&A analyst with Morgan Stanley, Omar has developed a leadership style founded on meritocracy, ensuring careers progress based on performance and successful ideas, rather than social connections.
Omar’s efforts have been recognised by Harvard Business School which uses Alghanim as a case study for MBA students. His distinctive management style was also successful at Gulf Bank where he oversaw double-digit growth for seven years in a row, making the bank one of the fastest growing in the region.
He is co-founder and board member of INJAZ-AL ARAB, a non-profit organization that prepares youths for work and business life across the Arab world. To date, the organization has educated and trained 3m young people.
Omar also gives back to his alma mater, Harvard, by serving on the Leadership Council of its Kennedy School Centre for Public Leadership as well as the Business School Board of Dean’s Advisors and MENA Advisory Board. He previously served as the World Economic Forum’s (WEF’s) Chair of the MENA Regional Business Council (2014-2015).