The GSG Team

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Our team consists of experienced executives, including former senior managers and regulators, who not only master the rules, but also have implemented and assessed them.

Thanks to an integrated and cohesive corporate culture – where each element is in perfect fit with the others – GSG Team helps financial institutions identify an adapted and reachable strategic positioning, allowing them thereby to achieve a more efficient allocation of their resources.

 

 

The Founder & Chairman of GSG: Dr. Farouk W. El-Kharouf

Global Strategy & Governance S.A.                                                                            2008 – Present

As founder and Chairman of Global Strategy & Governance S.A., Dr. Farouk El-Kharouf directed GSG’s advisory as well as implementation client projects, notably:

  • Strategic Repositioning – North Africa Commercial Bank. S.A.L. (NACB); 2011
  • Bank Acquisition & Related Strategic Advice for a Majority Holding Investment –  Central Bank of Libya (CBL); 2009
  • Corporate Repositioning & Technical Qualification for a Merger & Acquisition Processes –  Libyan Foreign Bank (LFB); 2008/2009
  • Strategic Restructuring –  Ares Bank; 2008
  • Strategic Corporate Governance, Valuation and Reorganization – A Saudi Arabian Conglomerate (Confidential); 2008

Arab Bank Group                                                                                                            1987 – 2008

Before founding Global Strategy & Governance S.A. Dr Farouk El-Kharouf held the position of Arab Bank Group’s (ABG) Chief Financial Officer and Head of Strategic Investments. His responsibilities included the formation of strategic plans and the repositioning of Arab Bank Group within the changing external and internal environments. He was actively involved in dealing with central banks, tax authorities, shareholders, rating agencies, major investors and external auditors.

During his 21 years of service with ABG, he was successful in achieving several important, goals including:

  • Raising Arab Bank’s Group net income after tax from USD 228 million in 2003 to an estimated USD one billion in 2008.
  • The enhancement the Group’s equity from USD 2.9 billion in 2003 to an estimated USD 8 billion in 2008.
  • Implementing Basel II and redesigning the Group’s related systems.
  • Introduction of several modern managerial tools including Asset/liability management and financial planning concepts.
  • Reorganizing Group's operations in Europe through Europe Arab Bank PLC.
  • Restructuring of the operations of Arab Tunisian Bank.
  • Acquisition of Wahda Bank Libya, Al Niser Al Arabi Insurance co., MNG Bank, Arab Bank Maroc and Atlas Investment group.
  • Various privatization biddings: Bank of Alexandria and Bank du Caire, Egypt.
  • Obtaining the Group an (A-) rating from Moody’s, S&P, and Fitch ratings at the time when the sovereign rating of Jordan is (BB).

Dr. El-Kharouf chaired the Board of Directors of Wahda Bank and Arab Tunisian Bank. He also served on the Board of Directors of Arab National Bank, Europe Arab Bank and Arab Bank Switzerland.

Arab National Bank, University of Jordan, Central Bank of Jordan                                 1970-1987

Before joining Arab Bank Group (ABG), Dr. El-Kharouf was the CFO of Arab National Bank in Riyadh, Saudi Arabia (1982 – 1987), an affiliate of ABG. Prior to this assignment, he was a lecturer and a researcher at the University of Jordan, Amman (1971 – 1977) and worked at the Central Bank of Jordan, Amman (1970 – 1971)

Publications                                                                                                                      1999-2010

  • Farouk El-Kharouf (Work in Progress) "Corporate Governance in the Top 15 Arab Banks".
  • Farouk El-Kharouf, Sulayman Al Qudsi, Shifa Obeid (2010) "The Gulf Corporation Council Sovereign Wealth Funds: Are They Instruments for Economic Diversification or Political Tools?", Asian Economic Papers, Vol. 9, No. 1, pp: 124-151.
  • Farouk El-Kharouf (2002) “A Scoring Model for Measuring Corporate Governance", The Arab Bank REVIEW, Vol. 4, No. 2, pp: 36-45.
  • Farouk El-Kharouf (2000) “Corporate Governance in Banking Organizations”, The Arab Bank REVIEW, Vol. 2, No. 1, pp: 54-59.
  • Farouk El-Kharouf (2000) “Strategy, Corporate Governance and the Future of the Arab Banking Industry”, The Arab Bank REVIEW, Vol. 2, No. 2, pp: 30-39.
  • Farouk El-Kharouf (1999) “The Proposed BIS New Capital Adequacy Rule: Enhancement of Measures at the Expense of Fairness”, The Arab Bank REVIEW, Vol. 1, No. 1, pp: 18-21.
  • Farouk El-Kharouf, Maria-Magdalena Popescu (1999) “Basic Elements of an Integrated Risk Management System”, The Arab Bank REVIEW, Vol. 1, No. 1, pp: 41-46.

Education                        

  • Ph.D. - University of Illinois at Urbana-Champaign, USA
  • MBA   - American University of Beirut, Lebanon
  • B.Sc.  - University of Jordan, Jordan.