“The World in Transition”

The GCC Board Directors Institute concludes its

5th Annual Chairman Summit

Riyadh, (8 November 2017) – More than 130 chairmen, board directors and senior executives from around the world convened in Riyadh on Wednesday 1st November, 2017 at the 5th Annual Chairman Summit, organized by the GCC Board Directors Institute (GCC BDI) in collaboration with Morgan Stanley.

His Excellency Mohammed bin Abdullah Al-Jadaan, Minister of Finance in the Kingdom of Saudi Arabia, inaugurated the summit with keynote remarks read on his behalf. Later on in the afternoon, the Minister joined the participants and engaged in a very open and candid Q&A session with the audience.

The Summit offered an excellent platform for networking and peer sharing. HE Dr. Ahmed Abdulkarim Alkholifey, Chairman of SAMA, joined HE Abdullatif Al Othman, Chairman of Dussur (Saudi Arabian Industrial Investments Company), in a panel discussion on the topic of the Regional Macro Environment and Driving Diversification,  whereas HE Mohammed Elkuwaiz, Chairman of CMA, and Khalid Al Hussan, CEO of Tadawul, engaged with the chief executives of ENBD and National Bank of Bahrain in a discussion around tapping capital markets and the future of regional markets in financing the economic growth. Colm Kelleher, President of Morgan Stanley, was also amongst the speakers present.

In his welcome address, Mohammed Al Shroogi, Chairman of GCC BDI and co-CEO of Investcorp, stated: “The theme for this Summit “The World in Transition’ is extremely timely. The global economic landscape is shifting in a multifaceted way that will directly impact the GCC. This is the time to consider institutional reforms which will leave the regions private sector stronger and more resilient.”

Abdulaziz Alajaji, CEO of Morgan Stanley Saudi Arabia commented “We were delighted to partner with GCC BDI for this summit and would like to congratulate everyone involved for ensuring the occasion was a great success. It provided a forum for those who will help drive forward the Saudi Vision to meet with international leaders and discuss how to maximize the opportunities ahead of us. Saudi Arabia has much to offer the rest of the world, as an attractive and exciting growth market. With the global economy becoming more interconnected, it is important that we share best practices of board and corporate governance. That is why events such as this are incredibly important, to share that knowledge and help us all grow.”

The discussions also included views from the private sector, led by Dr. Abdullah Al Abdulgader Chairman of STC, and Mr. Mutlaq Al-Morished, CEO of Tasnee.

The 5th Annual Chairman Summit coincided this year with GCC BDI’s 10th anniversary in the GCC, as well as Morgan Stanley’s 10th anniversary of opening their offices in KSA, as the collaboration between the two parties brought a global perspective to the local and regional economic landscape.

About GCC Board Directors Institute

The GCC Board Directors Institute (GCC BDI) was founded in 2007 as a not-for-profit organization by leading regional corporations – Investcorp, SABIC, Saudi Aramco and Emirates NBD. It is supported by the four advisory firms Allen & Overy, Heidrick & Struggles, McKinsey & Company, and PricewaterhouseCoopers. In collaboration with the regional regulatory authorities, the Institute’s mission is to advance the development of corporate governance in the region by equipping board members and executives with the cutting-edge know-how required to sustain effective board practices by providing access to resources and events. Since its inception, GCC BDI has developed into one of the region’s largest and most influential networks comprising almost 1000 members representing over 3000 companies and has hosted over 100 high-profile member events and workshops. As the only regional entity to form part of the Global Network of Directors Institute (GNDI), GCC BDI enjoys global recognition as the leading network of board directors in the Middle East.

For more information on GCC Board Directors Institute, please visit www.gccbdi.org, phone +971 (0)4 554 7967 or email getinvolved@gccbdi.org.