Banks, telecom and construction firms hold strong
Etisalat climbs from 44th position in 2012 to 13th position this year “Our methodology is objective, transparent and authentic,” says Mediaquest Group Co-CEO Julien Hawari
Dubai, UAE – December , 2013. TRENDS' Top 50 CEOs List 2013 boasts four companies from the UAE in the top 10, with nine making the top 20. As the role of CEOs and business leaders becomes more complicated and challenging across the world due to transforming economies since the financial slowdown, the UAE-based companies have shown great resilience and determination to steer clear of the downturn during 2013. The industry that undoubtedly performed best within the UAE was the banking sector, which in itself is an indication of returning to healthier levels of banking and financials across the emirates.
In last year's rankings by TRENDS, there were five UAE-listed companies featured in the top 20; this year there are nine. The top five UAE-listed companies in 2013 are:
1) National Bank of Abu Dhabi – the bank was positioned in 22nd place in 2012, but this year it was ranked sixth
2) Union National Bank – this bank was ranked 16th last year, but in 2013 it has climbed into the top 10, ranking seventh
3) RAKBank was ranked 30th in 2012, but it is now eighth
4) Abu Dhabi Commercial Bank was sixth on 2012's list, but this year it is ninth
5) Telecome company Etisalat shot up the rankings from 44th in 2012 to an impressive 13th position this year
TRENDS, one of the leading international English magazines on Arab affairs in the Middle East region, started ranking the top CEOs in the GCC countries in 2011.
In 2011's TRENDS Top 50 CEOs list, banks and insurance firms were in the majority, while 2012's list is dominated by retail, telecom and construction companies. Once again, for 2013, it is the banking, telecom and construction sectors that are taking the top spots.
The methodology adopted in finalising the rankings is transparent and simple: TRENDS rates performance of the CEOs through the financial statements posted by the publicly listed companies at the end of each financial quarter.
Co-CEO of Mediaquest Group, Julien Hawari, says: “TRENDS' method of ranking the CEOs and businesses is simple, authentic and transparent. Our team compared growth figures of companies listed on DFM, ADX and Tadawul in 2010, 2011, 2012 and 2013 [until Q3], then closely examined profitability, share prices, size and reputation of the company in the market. We allotted points to each company according to the results posted by them on respective
stock exchanges.
“The Top 50 CEO power list is one of a kind in the region, as a very succinct scientific methodology structure is utilised to gain the most accurate and realistic ranking. The list will undoubtedly prove a valuable gauging tool for business managers and readers in helping to understand the changing dynamics of the business climate in the region.