Executive Board Members

  • Ahmed Heikal
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    Ahmed Heikal

    Ahmed Heikal

    Ahmed Heikal

    Dr. Heikal is the founder of Qalaa Holdings (QH). In the past 10 years QH transformed from a general partnership private equity manager with EGP 2 million in capital to a leading investment holdings firm investing in Egypt and East Africa with EGP 9.1 billion in capital. The firm is a leading investor in a number of platform companies in the energy, cement, transportation & logistics, mining, consumer finance and retail sectors.

    Prior to founding Qalaa Holdings, Dr. Heikal had joined EFG Hermes in 1992. At the time, EFG Hermes had a capital of EGP 250,000. Dr. Heikal was instrumental in transforming EFG Hermes from a small financial consultancy into the leading investment bank in the Arab world and emerging markets. Dr. Heikal was an executive board member and Managing Director of EFG Hermes Holding. He was also head of asset management (1994-95), head of investment banking (1996-97), head of securities brokerage (1997-99), and head of private equity (1999-2001). He spearheaded highly successful private equity investments, including the creation of Egypt’s leading IT company (Raya Holding) and Egypt’s largest natural gas distribution company (Genco). He also raised three rounds of financing for regional mobile telecommunications operator Orascom Telecom and led the IPOs of Orascom Construction Industries and Orascom Hotels, among other landmark transactions.

    Dr. Heikal holds a Master’s degree and a PhD in Industrial Engineering and Engineering Management from Stanford University.

  • Hisham El-Khazindar
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    Hisham El-Khazindar

    Hisham El-Khazindar

    Hisham El-Khazindar

    Prior to co-founding Qalaa Holdings, Mr. El-Khazindar was Executive Director of Investment Banking at EFG Hermes where he advised on landmark M&A and IPO transactions in the region, and where he started his career in 1996. During 1999-2000, he was on secondment to Goldman Sachs in London. Mr. El-Khazindar serves on the boards of several leading regional companies including El Sewedy Electric and Magrabi Retail, and on the Advisory Committee of the Emerging Markets Private Equity Association. He also serves as a Trustee of the American University in Cairo, as a Trustee of the Cairo Children’s Cancer Hospital, and as a Fellow of the Aspen Institute’s Middle East Leadership Initiative. In 2013 Mr. El-Khazindar was selected as a Young Global Leader by the World Economic Forum. He holds a BA in Economics from the American University in Cairo (1996) and an MBA from Harvard Business School (2003).

  • Karim Sadek
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    Karim Sadek

    Karim Sadek

    Karim Sadek

    Prior to joining Qalaa Holdings, Mr. Sadek was Managing Director of the Arab Investment Company (ABIC), one of the largest private-equity firms in Egypt. During his tenure, Mr. Sadek returned a substantial part of the firm’s total investments (valued at over EGP 500 million [US$ 90.91 million]) to ABIC’s shareholders in the form of dividends and share buybacks. Mr. Sadek holds a Master’s in International Securities, Investment and Banking from the Business School for Financial Markets at the University of Reading in the United Kingdom. He has extensive experience in corporate banking and credit risk assessment through his work both at the Commercial International Bank (CIB) and Arab Bank.

  • Moataz Farouk
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    Moataz Farouk

    Moataz Farouk

    Moataz Farouk

    Mr. Farouk joined Qalaa Holdings in 2006 with more than 16 years of experience in finance and accounting, having previously served as Finance Manager of Fayrouz International A.G., a wholly-owned subsidiary of Heineken International. At Fayrouz International, he was responsible for leading high profile projects related to transfer pricing, tax structuring and financial systems. Mr. Farouk joined Fayrouz from Procter & Gamble, where he served as Senior Costing Manager, and began his career at EFG Hermes Securities Brokerage, the largest broker in the Arab world, handling high-net-worth and institutional clients.

Non-Executive Board Members

  • Osama Hafez
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    Osama Hafez

    Osama Hafez

    Osama Hafez

  • Magdy El Desouky
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    Magdy El Desouky

    Magdy El Desouky

    Magdy El Desouky

    Magdy El-Desouky is a Non-Executive Member of the Board of Directors of Qalaa Holdings. Mr. El-Deskouky has since 1994 been with Egypt’s Youssef Allam Group, where he is presently Vice-President for Investments. With more than 35 years of experience at both global and regional investment and financial management firms, Mr. El-Dessouky was previously assistant financial auditor of Le Meridian Jeddah Hotel, the financial auditor of Ramada Jeddah Hotel, General Director of Ramada Jeddah Hotel, and the administrative director and finance manager at Naghi Motors Company in the Kingdom of Saudi Arabia. In addition to his service to Qalaa Holdings' Board of Directors, he sits on the boards of companies including EGYCAP Investment, MENA for Real Estate Investment, National Company for Development and Trade, Golden Crescent, Bonyan, Gozour and United Company for Foundries. Mr. El-Desouky holds a BA in Commerce from Cairo University.

  • Philip Blair Dundas, Jr.
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    Philip Blair Dundas, Jr.

    Philip Blair Dundas, Jr.

    Philip Blair Dundas, Jr.

    Philip Blair Dundas, Jr. is a veteran of the Middle East business community with particular expertise in energy, finance, restructuring, joint investment as well as mergers and acquisitions. Since 1981 Mr. Dundas was the Managing Partner of the Abu Dhabi office of Shearman & Sterling LLP, a position he has held until 2013, having joined the firm in 1973 in New York. He has previously served as a director of Hyundai Oilbank and STX Metals of Korea as well as Xojet and Fuji Marine. Mr. Dundas has received from industry publications wide recognition of his longstanding contributions to business and finance in the Middle East, particularly as it relates to energy and M&A. He earned his BA from Wesleyan University and his JD from Washington & Lee University.

  • Joseph Iskander
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    Joseph Iskander

    Joseph Iskander

    Joseph Iskander

    Mr. Joseph Iskander is Managing Director of Asset Management at Dubai Group and the former Head of Research at Dubai Capital Group until 2009. He joined Dubai Group as an Investment Manager in 2004 and has worked on a range of M&A transactions, advisory services, asset management and private equity transactions with a collective value in excess of US$ 5 billion. Prior to joining DG, Mr. Iskander headed the research team at Egypt's Prime Investments and was earlier an investment advisor at Commercial International Bank (CIB). He began his career at Deloitte & Touche (Egypt) as an auditor. He has over seventeen years of experience in the financial services industry, covering various areas such as banking, audit, research, private equity and asset management. Mr. Iskander represents Dubai Group on the board of Oasis Capital Bank in Bahrain, Marfin Investment Group in Greece and Emirates Retakaful in Dubai. Mr. Iskander holds a degree in Accounting and Finance with high distinction from Helwan University.