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Biographies

Curriculum Vitae for Mr Cherine Mohsen Chalaby

Date of Birth: 20 September 1951

Status: Married

Nationalities: British and Egyptian.

Interests and Languages: Cherine is an avid reader. He enjoys travelling and is a keen golfer and windsurfer. He is fluent in English, Arabic and French.

Education: Cherine graduated from the Jesuits School of Cairo in1969. In 1974, he obtained a BSc in Electrical Engineering from Cairo University. In 1977, he obtained an MSc in Computing Sciences from Imperial College, London.

Professional Career: After graduation from Imperial College, Cherine joined Accenture in 1977 and was promoted to the partnership in 1987. Cherine spent 28 years with Accenture (details of his areas of responsibility in Accenture are given below) and retired from the firm in February 2006 to join Rasmala, an Investment Bank based in Dubai, as Chairman of the Supervisory Board. A position he currently holds. .

Investment Banking Experience

a- Capital Markets & Stock Exchanges: Cherine has spent the first 23 years of his career with Accenture in the Financial Services Industry. In 1990, Cherine became the global head of Accenture’s practice in Stock Exchanges and in 1995 he became the Managing Partner of Accenture’s Capital Markets practice worldwide. His clients included the London Stock Exchange, DTCC in New York, Clearstream, JP Morgan and Goldman Sachs. He travelled extensively and worked in London, New York, Tokyo, Hong Kong, Paris, Frankfurt and the Middle East. His work experience is broad and extensive. It ranges from strategy development, through systems implementation and transformational change to running operations. Cherine has a proven track record in business development, deal closing and successful delivery of projects. For example, before retiring from Accenture he closed a multi-billion dollar deal between SAP and Accenture.

Since joining Rasmala, Cherine has been advising several companies on their IPO strategies.

b- M&A and Venture Capital: In 2000, Cherine was promoted to Managing Partner of Accenture’s M&A and Venture Capital businesses for EMEAI and Latin America, a position he held until his retirement from the firm. He was a senior member of Accenture’s investment committee, which managed a $1billion fund. He has made over 15 investments in technology start-ups and has led the acquisition of eleven matured companies which were integrated into Accenture.

Since joining Rasmala, Cherine has advised several companies on their inorganic growth strategies. For one of his clients, he led and closed an M&A transaction on the sales side. For Rasmala, he led and closed the acquisition of a brokerage house in Egypt.

Middle East Experience

Cherine has worked in the Middle East since the early 1980s. His clients include the Dubai International Financial Centre (DIFC) for which he developed the business strategy and the blueprint of the current International Stock Exchange; the Saudi Arabia Monetary Authority (SAMA) for which he developed and implemented the Saudi Stock Exchange systems and procedures; and Wardley Middle East bank in Dubai (early 1980’s) for which he implemented a foreign exchange and money markets system. He also worked with Rasmala in the establishment of an Islamic bank.

Under Cherine’s Chairmanship, Rasmala has grown from a small bank based in Dubai to a regional bank operating in UAE, Saudi Arabia, Egypt and Oman.

Board Experience

Cherine has played an active role in protecting Accenture’s interest on the boards of four companies in which Accenture invested its capital:

Broadband telecommunications - a joint venture with Telewest,
Mobile banking – a joint venture with Nokia,
HR outsourcing - a joint venture with British Telecom,
Islamic banking - a joint venture with Rasmala.

From 2001 to 2004, Cherine served on the Accenture’s Executive Committee and its Global Leadership Council.

In March 2006, Cherine joined Rasmala as Chairman of the Supervisory Board. Cherine has also served as the Chairman of the Board of Delta Rasmala, an Egyptian brokerage house acquired by Rasmala in 2007.