Unveiling Lebanese leaders: Meet Lebanons entries in Forbes Middle Easts Top 30 Asset Managers 2024 list

3^min

Forbes Middle East recently published the Middle East's Top 30 Asset Managers 2024 list, featuring asset managers from Saudi Arabia who dominated the list with 14 entries, followed by Kuwait with five entries, and the UAE with four.

As usual, Lebanon was also present. The country was featured with two entries, including Ali H. Khalil and Husayn Shahrur.

So, who are they?

Ali H. Khalil

- Designation: CEO
- Company Name: Kuwait Financial Centre (Markaz)

Ali H. Khalil joined Markaz in 1989 as the president of Mar-Gulf Management, a Los Angeles-based subsidiary. He held leading management positions, including COO, before being selected as CEO in 2020.

"In 2023, Markaz reported total assets under management of $3.94 billion. It also recorded revenues of $85.5 million in 2023, a 40 percent increase compared to 2022 due to an increase in the sale of international and GCC real estate investments," said Forbes Middle East.

"In October 2023, Markaz extended its partnership with Gulf Bank, which serves as its selling agent for investment funds worldwide," it added.

Husayn Shahrur

- Designation: CEO
- Company Name: ABK Capital

Husayn Shahrur was appointed to his present position in 2021. ABK Capital is an investment arm of Al Ahli Bank of Kuwait, providing asset management solutions and investment advisory services.

According to Forbes Middle East, the group had $2.3 billion of assets under management as of December 2023.

Prior to his current role, Shahrur was the managing director at NBK Capital. He also has numerous publications in international finance journals, mainly focusing on capital structure, mergers and acquisitions, and investments.

It is worth mentioning that Forbes Middle East gathered the list based on numerous metrics, including the company’s assets under management and the leader’s past experience, time in their current role, and main achievements between January 2023 and March 2024.

"Over the past few decades, the region has witnessed a remarkable transformation in its investment ecosystem, driven by a combination of factors, including economic diversification efforts, technological advancements, and shifting investor preferences," it said.

It added that "the 30 asset managers featured on this list managed over $340 billion in assets in 2023, including local and international equity and debt funds, discretionary portfolios, real estate investments, REITS, and private equity."