Al Ghurair’s Board, along with its Audit & Risk, Human Capital, Strategy, and Investment Committees, blends the knowledge and experience of second-generation family with independent non-family members. The highly diverse team of executives, each with decades of regional experience, oversee a lean Corporate Office focused on driving portfolio value and managing risk.
Board Member
Majid Saif Al Ghurair is a Board Member of Al Ghurair Group, one of the largest family-owned corporations in the United Arab Emirates, with businesses spanning a broad variety of industry sectors, including retail, industrial manufacturing, investments & real estate.
Mr. Al Ghurair held numerous roles in public and private sectors in the UAE over the past years. He was the Chairman of Dubai Chamber of Commerce & Industry (2015- 2021), a Board Member of Dubai Islamic Development Centre (2015-2021) and Al Etihad Credit Bureau (2015-2021).
Mr. Al Ghurair is the Chairman of Dubai Shopping Malls Group (DSMG) and was involved in the formation of the Middle East Council of Shopping Centers (MECSC). He was the Chairman of MECSC since its inception in 1994 for around 23 years, and his contributions to the shopping centers industry are immeasurable.
Previously, Mr. Al Ghurair had numerous prominent positions in different industries, where he was the Chairman of Drake & Scull International PJSC, Chairman of Shuaa Capital PSC, Board Member of Mashreq Bank and Board Member of Investcorp Bank BSC, to name a few.
Mr. Al Ghurair is a graduate in Accounting from UAE University in Al Ain. He was awarded the “Business Leader Personality of the Year 2004” in the United Arab Emirates by H.H. Sh. Mohamed Bin Rashid Al Maktoum, and the “ABLF Ambassador of Commerce Award” in 2017 by H.H. Nahayan Mabarak Al Nahayan.
Board Member
Board Member
Rashed Saif al Ghurair, a board member since 2010, is an experienced entrepreneur and Board director who played a key role in the success of the Group in recent years. Rashed’s key contribution has been the development of Taghleef Industries (TI) into a leading global producer of BoPP film. Starting out in plant operations of then Dubai Poly Films in 1999 to learn the manufacturing process, Rashed progressed to become deputy General Manager and Managing Director before being appointed in 2006 Chairman of TI, a position he still holds. During this time, he oversaw the global expansion of TI, driving the recruitment of top management and acquisitions in Oman, Egypt, Australia, Europe, North and South America to become one of the dominant players in the industry worldwide.
Among Rashed’s other key positions of responsibility are Chairman of National Cement Company PJSC since 2017, Board member of Mashreq Bank PJSC since 2012, Board member of Al Ghurair Real Estate since 2015 and Board member of Al Ghurair Iron & Steel, a joint venture with Nippon Steel Corporation, since 2010. Rashed was also a founding Board member of Sahara Petrochemicals (later SIPCHEM) SJSC from 2014 to 2018. From 2017 to 2020, Rashed acted as CEO of Al Ghurair Group.
Board Member
Board Member
Board Member
Board member
Mazin Al Khatib brings over three decades of leadership in investment banking and financial institutions, having worked with top-tier financial institutions across the Middle East and Gulf region. His career reflects a blend of strategic insight, operational excellence, and deep regional expertise.
He currently chairs the Investment Board of the Jordan Social Security Investment Fund and is the Founder and President of Nostalgia Group. Previously, Mazin held senior roles at two globally recognized private equity firms: as Managing Director at Warburg Pincus, where he contributed to managing a portfolio exceeding $80 billion in assets, and as Managing Director and member of the Senior Management Committee at Investcorp, overseeing investments within a $45 billion platform.
In an advisory capacity, Mazin supports several organizations. He serves on the board of the Al Ghurair Group, is Vice Chairman of National Cement Company, and sits on the Advisory Board of Arqaam Capital. He also advises the Founder and CEO of The Family Office Investment Company (TFO). His recent mandates include leading a $500 million debt restructuring, managing M&A transactions worth $310 million, and supporting fundraising efforts totaling $410 million.
Mazin holds both a Bachelor’s degree in Computer Science and an MBA in Finance & Banking from St. Edward’s University in Austin, Texas.
Chairman, Strategy Committee
Nitin is a seasoned professional with more than 40 years’ experience in the Middle East (“ME”) across different sectors and countries, giving him an in-depth understanding of the legal, regulatory, cultural and economic environment of the region.
Nitin started his career in the Middle East in 1979 in Bahrain with Whinney Murray (as Ernst & Young was then known). He moved to PricewaterhouseCoopers (“PwC”) in 1981 where he served until his retirement on 30 June 2019. He worked in Qatar from 1981 to 1988 and thereafter in the UAE. In PwC he served on the ME Leadership and the Deals Leadership teams.
He started his career in PwC in Audit but then led the Transaction Services and Corporate Finance lines of service across the ME region. His work spanned across Financial Due Diligence, Debt Restructuring, Corporate Valuations and Mergers & Acquisitions. This rich and diverse experience enables him to assess and evaluate businesses with a more holistic perspective.
Nitin has worked with a diverse clientele including regional private and public companies, financial institutions, multinationals, family businesses and some of the largest regional and foreign private equity (“PE”) houses. He has thus gained a unique understanding of the objectives, motivation and mindset of different investor groups.
Nitin has been nominated for the Deal of the Year award on four different occasions and has executed some landmark deals in the region. Those in the public domain include the sale of Damas, Axiom Telecom and Jordan Islamic Bank. His notable projects include the debt restructuring of Damas, Global Investment House, Dubai Holding, Lafarge Emirates Cement and GGICO and the raising of Islamic Financing for Sobha Group through Dubai Islamic Bank. He has also carried out a number of assignments for PE clients such as Abraaj, Gulf Capital, Al Fajr, Investcorp, Amwaj Al Khaleej, General Atlantic, Warburg and Carlyle, to name a few.
Post retirement from PwC, Nitin became a senior Partner in Nucleus Consulting FZ LLC, a boutique advisory firm. He continues to advise companies and family businesses and also acts as Board member of private and public companies as detailed below:
Nitin is a qualified Chartered Accountant. He holds a Bachelor’s Degree in Economics ( Honors) from Hindu College, Delhi University. He is also professionally qualified from the Institute of Cost & Management Accountants.
Chairman, Audit and Risk Committee
James Babb brings over 30 years of professional services experience and 27 years of leadership in the Middle East to his role as Audit and Risk Committee Chairman at Al Ghurair Group. A globally trusted advisor and accomplished leader, James has earned a reputation as a financial guardian, growth strategist, and corporate governance expert.
Throughout his career, James has held senior leadership roles, including serving as the Clients and Markets Leader and Partner for Deloitte Middle East and KPMG Lower Gulf. In these roles, he drove top-line growth through innovative client engagement strategies and strategic investments, achieving historic growth milestones and earning global recognition for his impact.
Currently, James is focused on a portfolio career, serving on boards and advisory committees across various industries. Beyond his corporate contributions, James is a dedicated mentor and community servant, supporting initiatives like the Emirates American Football League, Special Olympics, and mentorship programs at Yale University School of Management and Capital Club Dubai.
James holds an MBA in Accounting from the University of Connecticut and a B.S. in Finance Law with a minor in Economics from Portland State University. He passed the CPA exam in the State of New York in 1993. He has also completed the Global Executive Leadership Program at Yale University School of Management and is certified in Corporate Governance, ESG, and as an Advisory Board Chair.
Member, Audit and Risk Committee
Rajiv Sud is a seasoned financial leader with over four decades of experience spanning diverse industries, including real estate, logistics, construction equipment, oilfield supplies, and consumer goods. He has held senior roles in multinational corporations and large family-owned groups, driving financial restructuring, mergers, and growth strategies across the Middle East, Africa, Asia, and North America.
Rajiv began his career at PricewaterhouseCoopers, India before moving to Ernst & Young,Dubai in 1978. He later joined the Boodai Group of Kuwait where he spent 15 years as Regional Finance Manager, leading the financial operations for construction equipment agencies and oilfield supplies businesses across the UAE, Oman, and Qatar. Later as Vice President – Finance, based in Kuwait, he oversaw logistics operations, including port handling at Shuwaikh port, equipment leasing, and warehousing businesses, playing a pivotal role in business expansion and implementation of financial governance which eventually led to a successful divestment of the Group’s majority equity stake to an investor.
He then transitioned to Singer, the world’s leading sewing brand with an established retail presence, where he spent 10 years in various leadership roles. These included Regional Finance Controller Middle East & Africa, based in Jordan, Head of Planning & Budgeting at Singer Corporate in Toronto, where he was part of the team that facilitated the company’s emergence from Chapter 11, Country Head for India and Finance Director for Singer Asia-Bangkok.
In 2008, Rajiv moved to Dubai to take on CFO roles for 12 years within Dubai Properties Group, a key entity under Dubai Holding. At Dubai Properties, he focused on financial restructuring, asset sales and stabilizing operations during the global financial crisis. He later transitioned to Ejadah Asset Management, the real estate services arm of Dubai Holding, focusing on facilities management, security services, community management and concierge services. Rajiv played a key role in transforming financial processes, enhancing cash flow and improving operational efficiency.
Post retirement in 2020, he has been a Non-Executive Director and Chair of the Governance, Risk, Compliance & Audit Committee for Imdaad, a subsidiary of the Investment Corporation of Dubai (ICD) operating in facilities and waste management services. He is also a member of the Audit and Risk Committee at Al Ghurair First and acts as a Financial Advisor to a family office, focusing on increasing occupancies in its existing real estate portfolio and developing their land bank through build-to-suit residential and commercial projects.
Rajiv is a Certified Public Accountant (CPA) from the US and a Fellow of the Institute of Chartered Accountants of India (FCA).
Chairman, Human Capital Committee
David van Lochem stands at the intersection of human leadership and artificial intelligence. With his strategic partnership approach, he is empowering organizations to harness AI and innovative human resource practices for optimal performance.
David van Lochem has been based in Dubai, UAE since 2009, and is currently serving as an Independent Non-Executive Director and Chairman of the Human Capital Committee of Al Ghurair Group.
His international HR experience spans 19 countries throughout EMEAI, providing comprehensive coverage of HR facets. Notably, David excels in Mergers, Acquisitions, and Integrations and boasts a deep expertise in employment laws, compensation practices, and organizational cultural shifts.
David co-founded Augmented Workforce, an avant-garde consultancy emphasizing workflow automation, applied AI, and people analytics.
Formerly, as the CHRO of G42, a prominent regional powerhouse in AI, Cloud, and healthcare, David left a transformative footprint. His illustrious career took off with the Dutch Government, which paved the way for over two decades in high-ranking Human Leadership roles with tech behemoths such as IBM, IDEMIA, Cognos, KPISOFT (entomo), and Genzyme.
Throughout these roles, he championed strategic projects, driving M&A, cultural metamorphosis, leadership cultivation, organizational restructuring, and more. One of the largest strategic projects he has led was the successful integration of the EMEA part of Cognos into IBM, which impacted around 1,100 Employees.
David is an alumnus of the University of Applied Sciences, The Hague, with a BA in Human Resources Management and furthered his academic pursuits with a Master’s program focused on Culture, Organization & Management at the Free University in Amsterdam.
Complementing his HR expertise, David has formal training in Data Science, AI, Python programming, and Machine Learning. He holds the certification of Project Management Professional (PMI).
His skills in Sales Compensation are refined by specialized training from World at Work.
Group Chief Executive Officer
Iyad Malas is a seasoned executive with over 30 years of experience in various senior roles, spanning many countries and industries, including real estate, retail, leisure & entertainment, financial services, and investments.
Iyad Malas has been based in Dubai, UAE since 2007, and is currently Chief Executive Officer of Al Ghurair Group. Prior to this he was a Partner for 5 years in Gateway Partners, a private equity firm with offices in Singapore and Dubai. At Gateway Partners he worked on a number of deals, including an investment in Tim Horton’s Middle East and the setup of a real estate company in Africa. Iyad served as CEO of Majid Al Futtaim Trust, the family investment office and took over as Group CEO at Majid Al Futtaim Holding (MAF) in 2009 during the global financial crisis and he led the group through a decentralized business structure. Major strategic decisions included: taking full control of the Carrefour franchise business in the Middle East, while expanding the territory into Africa and Central Asia; buying out the cinema and credit card businesses; and leading the effort to get MAF’s bonds rated with an investment grade rating, leading to accessing the global debt markets. Under Iyad’s leadership, the MAF group increased EBITDA by 2.7x over four years.
Prior to Dubai, Iyad lived in the United States, Egypt and India. In Egypt, Iyad served as CEO of Fleming CIIC and then COO and Head of Asset Management at EFG Hermes, an Egyptian Investment Bank. With 16 years at the International Finance Corporation (IFC), his roles included Regional Director for South Asia, where he led initiatives for long-standing investments that were integral to the region’s development.
Iyad is fluent in Arabic, English and French and is a qualified Chartered Financial Analyst. Iyad holds an MBA from George Washington University, Washington DC and a BA from the American University of Beirut.
Group Chief Legal & Compliance Officer
Marwan Kiswani is the Group Chief Legal & Compliance Officer, responsible for overseeing the company’s legal, compliance, and governance functions and ensuring adherence to regulatory requirements. With a strong background in corporate law, Marwan brings valuable expertise in risk management, contract negotiations, disputes management, regulatory compliance and corporate governance & structure. He joined the Group in 1998 to setup the legal department and establish the legal function within the group. Marwan was a key player in transforming the group into a corporate structure and expanding the group abroad through several M&A transactions in the Middle East, Australia, Europe and America, and in representing the group before several forums and tribunals.
Prior to joining the company, Marwan was a partner in Kiswani & Co in Jordan, where he successfully navigated complex legal landscapes and litigated in several civil and commercial cases. His strategic approach to legal and compliance matters has resulted in mitigated risks, enhanced corporate governance, and strengthened stakeholder trust.
Marwan holds a master’s degree from the University of Liverpool, postgraduate certificate from University of London, LLB from University of UAE, Diplomas in International Arbitration, Intellectual properties, common law and DIFC law. He is a recognized arbitrator in GCC Arbitration Centre and Abu Dhabi Arbitration Centre and has been a standing member for more than 20 years in the legislations review committee in Dubai Chamber of Commerce and Industry. He is recognized for his ability to provide practical legal advice and guidance. His attention to detail, strong analytical skills, and commitment to upholding ethical standards make him a trusted advisor within the organization. Marwan’s comprehensive understanding of the legal and regulatory landscape enables him to drive compliance initiatives that align with the company’s strategic objectives while ensuring legal and ethical integrity.
Group Chief Human Capital Officer
Claudette Marchadesch is the Group Chief Human Capital Officer of Saif Al Ghurair Group LLC, She also serves as the Board Secretary of the Human Capital Committee of the Al Ghurair Group LLC.
Prior to her current role, Claudette held senior human resources management positions at leading global and semi-government companies, where she played a pivotal role in developing and executing successful human resources strategic plans. Her expertise spans in compensation and benefits and market analysis, organization and talent development, performance and rewards, project management and strategic partnerships. Claudette’s strategic insights and ability to identify emerging trends have consistently positioned her organizations for success.
Claudette holds a master’s degree in business administration and a Doctor of Philosophy and is recognized for her ability to translate complex business challenges into actionable strategies. Her collaborative leadership style, combined with her analytical mindset, enables her to build strong cross-functional teams and drive organizational alignment.
Group Chief Strategy Officer
Paul Hughes is a versatile strategic advisor and mature executive with rich international experience and diverse sectoral knowledge. As Chief Strategy Officer of the Al Ghurair, Paul is responsible for capital allocation, performance monitoring, investment and growth initiatives across the Group.
Paul’s career in strategic advisory started in 2008, when he joined Bain & Company in Dubai. At Bain, he supported private and public sector investors in the GCC on portfolio and business unit strategy, M&A, performance improvement, and governance issues. While working with Bain and as an independent advisor, Paul gained an informed understanding of the region and amassed experience in diverse sectors including manufacturing, FMCG, real estate, hospitality and asset management, among others.
Prior to consulting, Paul worked in the media as a foreign correspondent and editor for Reuters in Latin America, Europe and the Middle East. A British national, Paul graduated from Oxford University with a BA (Hons) and M.Phil and has an MBA (with distinction) from INSEAD.
Group Chief Information Officer
Mario Foster is the Group Chief Information Officer (CIO) at Al Ghurair Group. An award-winning leader, Mario joined the Group in January 2023 with a mission to elevate and restructure the IT organisation through strategic innovation and leadership. In his role, he sets the strategic direction for IT, driving growth, introducing innovative technologies, and ensuring these advancements align with business objectives to deliver tangible value.
With over 30 years of international experience in IT business transformation — including 15 years as a Group CIO for major conglomerates in the UAE and Saudi Arabia — Mario brings deep expertise in leading large-scale IT transformations. His career also includes time with global technology leaders in Canada and the USA, such as Microsoft and RSA Security (now part of Dell).
Before joining Al Ghurair Group, Mario served as the Group CIO at Al Naboodah Group Enterprises for eight years. There, he transformed the IT department into a regionally acclaimed operation, earning multiple awards for excellence under his leadership.
Mario’s expertise encompasses cutting-edge technologies such as Robotic Process Automation (RPA), Big Data, Artificial Intelligence (AI), and Cloud-based solutions. He is passionate about transforming IT departments from traditional support functions into dynamic business enablers, focusing on enhancing service delivery, security, standardisation, and overall systems performance.
Fluent in Arabic and English, Mario holds a BSc in Computer Science and an MBA in Management of Technology (with honours) from Canada. He also possesses numerous professional IT and Information Security certifications. Known for his strategic insights and ability to craft actionable strategies, Mario’s contributions to the IT sector in the UAE are evident in his voluntary roles on the Advisory Board for the Cloud MENA Annual Conference and the National Advisory Council of the College of Technological Innovation at Zayed University, among other industry bodies.
Group Chief Financial Officer
Kamran Amir is a Chartered Accountant with over 14 years of experience, recognized as an ACA and a Business and Finance Professional by the Institute of Chartered Accountants in England and Wales (ICAEW). As the Group Chief Financial Officer, he is responsible for preparing financial reports for the Group board and its sub-committees. His expertise lies in establishing strong financial reporting frameworks, budgeting, forecasting, managing financial consolidation, overseeing Group audits, and arranging financing for subsidiary units.
Prior to his role at Al Ghurair, Kamran worked at Ernst & Young until 2014, where he was in charge of initial planning and the development of comprehensive external audit plans for leading companies, as well as conducting statutory audits.
