KIPCO’s operations extend across the Middle East and North African region, from the Atlantic Ocean to the Arabian Sea. With holdings in sectors such as financial services, media, manufacturing and real estate, KIPCO Group comprises over 60 companies and employs over 16,000 people in 24 countries. Founded in 1975, KIPCO has since become one of the MENA region’s most successful companies.
KIPCO’s primary business sectors are financial services and media. In financial services, KIPCO Group companies include Burgan Bank Group – one of the region’s biggest banking groups with operations in Algeria, Iraq, Kuwait, Malta, Tunisia and Turkey. KIPCO also has a majority holding in Gulf Insurance Group – one of the region’s biggest insurance groups – with operations in Bahrain, Egypt, Iraq, Jordan, Lebanon, Kuwait, the United Arab Emirates, Saudi Arabia and Syria.
In the media sector, KIPCO has majority ownership of OSN – the region’s biggest and most successful pay-TV company – which broadcasts high quality Arabic, English and Filipino content using the latest technology.
BOARD OF DIRECTORS
SHEIKH HAMAD SABAH AL AHMAD AL SABAH
FAISAL HAMAD AL AYYAR
VICE CHAIRMAN (EXECUTIVE)
ABDULLAH YACOUB BISHARA
SHEIKH ABDULLAH NASSER SABAH AL AHMAD AL SABAH
SHEIKHA FUTTOUH NASSER SABAH AL AHMAD AL SABAH
FAISAL HAMAD AL AYYAR
Vice Chairman (Executive)
Mr Faisal Al Ayyar is Executive Vice Chairman of the Kuwait Projects Company (Holding). He joined KIPCO in 1990 when it was a US$ 220 million regional investment company. Under his stewardship, KIPCO has developed into one of MENA’s leading holding companies with interests in financial services, media, real estate, manufacturing and education, operations in 24 countries and consolidated assets of over US$ 32 billion. Of note is his leading role in the creation and development of OSN, the region’s largest pay-TV company, the development of SADAFCO, a leading dairy and foodstuff producer in Saudi Arabia, and the expansion and subsequent sale of Wataniya Telecom, a major regional mobile operator.
Mr Al Ayyar is Chairman of Panther Media Group - Dubai, UAE (OSN). He is Vice Chairman of Gulf Insurance Group – Kuwait, of United Gulf Bank – Bahrain, of United Gulf Holding Company B.S.C. – Bahrain, of Jordan Kuwait Bank – Jordan, of Saudia Dairy & Foodstuff Company – KSA, and of Mashare’a Al-Khair Establishment - Kuwait. He is a Board Member of Gulf Egypt for Hotels & Tourism Company – Egypt. He is a Trustee of the American University of Kuwait – Kuwait, and Honorary Chairman of the Kuwait Association for Learning Differences – Kuwait.
Mr Al Ayyar began his career as a fighter pilot with the Kuwait Air Force. Honors include the Arab Bankers Association of North America’s 2005 Achievement Award, the Tunis Arab Economic Forum and the Beirut Arab Economic Forum 2007 Achievement Awards and the Kuwait Economic Forum 2009 Award for his contribution to the investment sector and successes in the global financial market. Mr Al Ayyar was recognized by Kuwait’s Al Anba newspaper as the leading business and investment personality for 2018.
SAMER SUBHI KHANACHET
Group Chief Operating Officer
Mr Khanachet joined KIPCO as General Manager in 1990. He moved to the United States in 1991 to head United Gulf Management, KIPCO’s US subsidiary, and identify strategic resources to support KIPCO’s activities in financial services, media and other sectors across the MENA region. He was appointed KIPCO’s Group Chief Operating Officer in 2008. He is Chairman of Takaud Savings & Pensions and a Board member of Burgan Bank and United Gulf Bank. He holds board and committee positions with the American University of Kuwait and the Massachusetts Institute of Technology. He holds two BSc degrees from MIT and an MBA from Harvard.
TARIQ MOHAMMAD ABDULSALAM
Chief Executive Officer, Investments
Mr AbdulSalam joined KIPCO as CEO, Investments in January 2011. He first joined KIPCO in 1992 and from 1996 was Head of KIPCO’s Investment Division. In 1999, he became the General Manager of KAMCO. In 2006, he joined the United Real Estate Company (URC) as CEO and in 2010 became the Chairman of URC.
He was Chairman of URC from 2010 to 2019, Chairman of Burgan Bank from 2007 to 2010 and Vice Chairman of Kuwait Clearing Company till 2019 and has held Board positions at United Gulf Bank, Kuwait Bahrain Insurance Company and Gulf Insurance Company.
He is currently Vice Chairman of North Africa Company (Holding), He is also a Board member of KAMCO Invest, Jordan Kuwait Bank and Qurain Petrochemical Industries Company. Mr AbdulSalam holds a BSc in Accounting from Kuwait University.
Group Chief Financial Officer
Mr Maitra joined KIPCO in 1988. He was appointed Financial Controller in 1991 and Group CFO in 1996. He is a member of the Group’s strategy and risk management team. He leads the Group planning and performance analysis function. He is a Board Member of Burgan Bank, OSN and PKC Advisory. He chairs Burgan Bank's Board Strategic & Digital Committee. Prior to joining KIPCO, he worked for Arthur Young International. He won the MENA Private Sector CFO of the Year award in 2008. In 2011, he won the first MENA region CFO of the Year award, organized by the Institute of Chartered Accountants of England and Wales. From 2016 to 2019, he was named among the ‘Top Indian Business Leaders in the Arab World (Executives)’ by Forbes Middle East. Mr Maitra is a graduate of Osmania University, India.
MAZEN ISSAM HAWWA
Deputy Group Chief Operating Officer
Mr Hawwa joined KIPCO in 2001. He leads KIPCO Group’s finance and operations and is entrusted with strategic planning, operational optimization, governance and risk management. He also serves as advisor to several KIPCO operating subsidiaries. He is Chairman of Mena Homes Real Estate Company, Vice Chairman of United Real Estate Company, Takaud Savings & Pensions and United Networks. He is also a Board Member of United Gulf Holding Company, North Africa Holding Company, Dar SSH International Consultants and Fajr Al Gulf Insurance Company. Prior to joining KIPCO, he worked for Andresen & Co. Mr Hawwa holds an EMBA from HEC Paris and is a graduate of the Lebanese American University. He completed the general management program at Harvard Business school and is a holder of several professional qualifications from prominent US-based institutions.
KHALED ABDUL JABBAR AL SHARRAD
Group Chief HR & Admin Officer, Board Secretary
Mr Al Sharrad joined KIPCO Group as the Group Chief HR and Admin Officer in 1995. He plays multiple strategic roles for the Group in the capacity of KIPCO Secretary of the Board, Chairman of IKARUS United Marine Services Company, Board Director in Kuwait Furniture Manufacturing & Trading Company (KUFUMA) and Kuwait Association for Learning Differences (KALD), in addition to his participation as chair or member in several committees. He is a well-rounded leader with close to 30 years of proven organizational development and advisory experience covering areas such as strategic planning, corporate governance, organization design, talent management as well as business improvement. He holds a BA degree from St. Edwards University in Texas and is a certified professional in personnel management.
Mr Schumacher joined KIPCO in 2019. With close to 30 years of experience in corporate and investment banking, he has a proven track record of managing regional and global commercial banking businesses. Prior to joining KIPCO, Mr Schumacher held leading positions in Citi and HSBC, and was based between Riyadh, Abu Dhabi and Kuwait in the last decade. He holds a Bachelor of Commerce and an MBA from Concordia University in Canada. He is also a Chartered Financial Analyst.
MOHSEN ALI HUSSAIN
Group Chief Audit Executive
Mr Husain joined KIPCO in 2006. He has wide experience in public accounting and internal auditing and previously held positions with KPMG, Arab Insurance Group, National Bank of Bahrain, Ahli United Bank and United Gulf Bank. He is a Certified Public Accountant (CPA), a Certified Information System Auditor (CISA), a Certified Internal Auditor (CIA) and holds a BSc in Accounting.
Group Chief Strategic Initiatives Officer
Mr Kawkabani joined KIPCO in 2018. With around 20 years of experience in identifying, structuring, developing and managing investments and ventures in frontier markets, Mr Kawkabani leads strategic initiatives, special projects and transformation programs across KIPCO Group. Prior to joining KIPCO, he set up and served as the CEO of CPC Africa, and before that he was one of the founding partners of Willow Impact Investment. He has held several positions in leading regional and international organizations including Chief Investment Officer- MENA equities at Franklin Templeton, Co-Founder and Managing Director at Algebra Capital, and Head of Equity Asset Management at SHUAA Capital. He holds a Bachelor’s Degree in Business Administration from Saint Joseph University in Beirut.
ADEL JASEM AL WAQAYAN
Treasurer - SVP
Mr Al Waqayan joined KIPCO in 1995. He was previously a Senior Foreign Exchange dealer with Burgan Bank’s Treasury department. He is a board member of the United Real Estate Company and is the Chairman of the Chairman’s Club. He was previously Chairman of the Kuwait Financial Markets Association in 2006. Mr Al Waqayan holds an MBA from USI University in the USA.
OSAMA TALAT AL GHOUSSEIN
Senior Vice President, Banking
Mr Al Ghoussein joined KIPCO in 2013. With over 35 years of banking experience, he is a senior member of the team responsible for the strategy and supervision of KIPCO’s regional banking operations. Prior to joining KIPCO, Mr Al Ghoussein was Regional MD of Citigroup Global Markets and previously Regional MD & CEO of Standard Chartered Private Bank in Dubai. He has also held senior managerial positions with Credit Suisse, Pictet, National Bank of Kuwait and Commercial Bank of Kuwait. Mr Al Ghoussein holds a Bachelor of Arts in Business Administration and Political Science from George Washington University, Washington DC.
TAWFIQ AHMAD AL JARRAH
Executive Director - Hessah Al Mubarak District
Mr Al Jarrah joined KIPCO in 2016 as the Executive Director of Hessah Al Mubarak District, the first-ever mixed-use district in Kuwait. Mr Al Jarrah has more than 30 years experience in the real estate and financial sector. Prior to joining KIPCO, he was the Chairman and the Managing Director of Kuwait Commercial Markets Complex Company and before that the Director of the Commercial Banking Facilities Department at the Industrial Bank of Kuwait. He is the Chairman of the Real Estate Union Kuwait. Mr Al Jarrah holds a BA in Business from Baghdad University, the Certified Public Accountant (CPA) certificate and is a member of American Institute of Certified Public Accountants.
EMAN MOHAMMAD AL AWADHI
Group Communications Director
Ms Al Awadhi joined KIPCO in 2010. She is responsible for coordinating the Group’s overall communications strategy and for KIPCO’s corporate communications, media relations, branding and marketing activities. Ms Al Awadhi has an extensive career in public relations, media and journalism. She was previously a member of the ‘Newsweek Arabic’ production team and the foreign correspondent at Kuwait News Agency, Kuwait’s official news wire. She holds a BA in English Literature from the University of Bahrain.
Mr Drolet joined KIPCO in 2006 as Senior Vice President to supervise, develop and optimize KIPCO’s technology and media portfolio, and acted as KIPCO’s lead legal counsel on major financing and M&A transactions. He became a senior advisor on 1 June 2016, remains engaged on industry and legal matters, and still serves on the executive committee of OSN. Prior to joining KIPCO, he was CEO, Continental Europe and CEO US Communications Solutions, Cable & Wireless. He previously led turnarounds, M&A and strategic alliances as Chief Commercial Officer, C&W Global, and in senior UK cable industry positions. He was General Counsel of Bell Canada International and Canam Manac, after practicing at Stikeman, Elliott. He holds a B.Ll. (Laval), an Ll.M. (Osgoode) and an M.Litt (Oxon), is an Avocat (Quebec) and Solicitor (E&W).
KIPCO’s holdings in the financial services sector include commercial banks, investment banks, asset management, insurance and pension companies. KIPCO Group companies offer a range of products and services for retail, small business and corporate customers. KIPCO’s core companies in the financial services sector are:
KIPCO’s investments in the media and technology sector include OSN – the region’s leading pay-TV broadcaster – and companies offering radio, online data, satellite and internet services. KIPCO’s core companies in the media & technology sector are:
KIPCO’s operations in the real estate and construction sector offer corporate clients and private investors opportunities to invest, sell, or lease commercial properties in the Middle East and North Africa, the UK and the USA. KIPCO’s presence in property development and management includes commercial, residential and hotel operations throughout the MENA region. KIPCO’s core companies in the real estate sector are:
KIPCO’s holdings in the educational sector include university, high school, elementary and KG level facilities in Kuwait. KIPCO believes the provision of private education offers substantial growth potential both in Kuwait and across the region. KIPCO’s investments in this sector includes:
KIPCO’s investments in the manufacturing sector include companies involved in dairy, food and beverage production and specialized services for the energy sector. These companies operate in Kuwait, Bahrain, Egypt, Lebanon, Qatar, Saudi Arabia and the UAE. KIPCO’s core companies in the manufacturing sector are:
KIPCO’s investments in the management and advisory service sector include companies that provide expertise in direct investment, finance, private placement, mergers and acquisitions, derivatives and corporate restructuring. These services are used by Group companies and external clients. KIPCO’s core companies in the Management & Advisory sector are:
Recognize Fraud, identity theft and Email Scams
It has come to KIPCO’s notice that there are fraud emails in different forms being circulated in attempts to deceive those who believe them. These emails might sometimes be identity theft emails, imitating KIPCO management, staff or other KIPCO related areas. We request you not to believe, open any links or reply to these emails.
KIPCO is not responsible in any way, financial or other, and is not to be held reliable for any fraud or scam emails being sent from any server other than www.kipco.com. And will not be responsible for any employment offers, commitments or other requests being made by such emails.
We request you to kindly take the necessary steps to identify the legitimacy of emails you receive. And to email us on firstname.lastname@example.org when you receive phishing emails though forwarding the message to us with the complete header information and will reply with information regarding the authenticity of the received.
We thank you for your co-operation.