POISE & PANACHE


Rabeth-KhanH.R.H. Prince Alwaleed is a business leader who is not afraid of taking risks. He is not monetarily conservative and possesses a sharp analytical mind. This man, clubbed with all the gloss and a voracious apetite for success, pilots Kingdom Holding Company which commands a market cap of $16,549 million. An internationally prominent businessman and investor, Saudi Prince Al-Waleed bin Talal is perhaps the largest single foreign investor in the United States. With a net financial worth of approximately $20 billion, he also happens to be one of the world’s wealthiest people.

When it comes to business decision making, H.R.H. Prince Alwaleed is a name always taken with reverence. It was his risk-taking nature that prompted him in 1991 to announce his $590 million investment to bailout Citicorp which many thought would turn out to be a ruinous decision. It earned him the title of the ‘Arabian Warren Buffet’. But this wasn’t something new. Prior to this, in 1988, the company acquired a controlling stake in the ailing United Saudi Commercial Bank (USCB). With a management rejig and the Prince’s able guidance, USCB’s fortunes rapidly changed. It became the most profitable Saudi Arabian commercial bank in just a year. With USCB stocks having multiplied twenty-fold, the Prince negotiated a merger with the struggling Saudi Cairo Bank to create the United Saudi Bank (USB). He then began to view the dominant Saudi American Bank (SAMBA) as a source of managerial strength and leadership. In 1999, the merger was completed, forming one of the largest banking groups in the region.

What completes a man is his tolerance, his disposition and his radical bearing. A legend who outran the cynics, who established an unstained legacy, who is a believer and a giver, AMP is honoured to have H.R.H Prince Alwaleed in the list of its legends.

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