Ras Al Khaimah Investment Authority
Dr. Khater Massaad has been instrumental along with H.H. Sheikh
Saud Bin Saqr Al Qassimi, the Crown Prince & Deputy Ruler of
Ras Al Khaimah in founding RAK Ceramics in 1991. The driving force
behind the Company all along, he has guided the destiny of what
is now the topmost ceramic manufacturing organisation in the world,
and a jewel in the manufacturing sector of the entire Middle East,
- all achieved within 16 years.
Dr. Massaad’s career milestone in the middle
east region started in early eighties when he commenced geophysical
investigations for clay deposits, dams and water in the GCC and
Levant countries. He was assigned the position of “Project
Manager” for various underground water projects in the United
Arab Emirates and in the Sultanate of Oman. His vision went beyond
geophysical investigations and projects to touch the industrial
sector of the UAE, where he initiated feasibility studies for various
factories. Thereafter, he envisioned a major plan for a ceramic
factory in the Emirate of Ras Al Khaimah, and set up and managed
R.A.K. Ceramics -a landmark in the Global Ceramic Industry.
Dr. Khater Massaad was conferred with the fDi PERSONALITY OF THE
YEAR Award in August 2007 in recognition of his efforts in attracting
foreign investment to Ras Al Khaimah and his role in the spectacular
transformation of Ras Al Khaimah into a thriving business and investment
destination in the region. In being named the 'fDi Personality of
the Year', Dr. Massaad joined the ranks of such previous winners
as, former Mexican President Vicente Fox (2003), Brazilian President
Luis Inácio Lula da Silva (2004), former Mayor of Seoul Lee
Myung-bak (2005) and Ontario Premier Dalton McGuinty (2006).
Dr. Khater Massaad was appointed in August 2003
as the Advisor to The Crown Prince & Deputy Ruler of the Emirate
of Ras Al Khaimah , His Highness Sheikh Saud Bin Saqr Al Qasimi.
He plays a key role in the rapid development of the Emirate as CEO
of the RAK Investment Authority ( RAKIA ) a position which he was
appointed to in the year 2005 . In the first 2 years itself - RAKIA
has attracted more than US $ 1 billion in industrial investments
into Ras Al Khaimah .
Dr. Khater Massaad is also the Executive Chairman of RAKEEN - the
land master-planner and developer in real estate & township
development in the Emirate & also overseas , which was created
through a Royal Decree by His Highness Sheikh Saud Bin Saqr Al Qasimi,
Crown Prince and Deputy Ruler of Ras Al Khaimah.
Dr. Massaad holds a Master’s degree in Engineering and a Phd
in Geophysics. A professional pilot as well, Dr. Massaad likes to
use the little spare time available to him in flying his private
Board Member of RAKEEN
Mr. A.J. Jaganathan has significant amount of
investment banking, early stage venture capital funding, and real
estate development experience spanning India, the UK and the Middle
East. He began his banking career with State Bank of India and later
became Deputy Chief Executive for the South Asia operations of Standard
Chartered's Group Investment Bank during 1985 and 1989.
After a few intervening years in commercial banking in Bahrain,
and several years in industry and venture capital funding in North
America, Mr. Jaganathan joined Emaar Properties PJSC, a master developer
of mixed-use real estate projects and related businesses, and a
public company listed on the Dubai Financial Market, in 1999. He
served as Emaar’s Group Chief Executive Officer heading all
operating entities and subsidiaries for over four years until 1st
January 2006. During his tenure as Group CEO, Emaar grew to become
the world’s largest real estate developer by market capitalization.
By the time he left Emaar, its market capitalization stood at close
to US$ 50 billion; and net profits had multiplied over forty times
to over US$ 1.4 billion.
Mr. Jaganathan left a high profile listed company stewardship to
set up his own businesses, and did so in partnership with a few
former colleagues from Emaar, with the intention of focusing on
India. The businesses, which are synergic in direction and content,
relate to real estate and infrastructure. In Dubai, AJ is the founding
Chairman of Konark Resources LLC, a real estate development advisory
business that focuses on advising developers, investors and financing
agencies who seek to develop high value real estate projects in
a manner that maximizes design efficiencies along with work flow
and processes, so that investment returns are fully maxed in the
context of extant market conditions.
AJ is also founder Chairman of Konark Capital Partners Limited,
a fund management company that manages private equity funds, that
is based in Mauritius, with advisory offices in India. Konark Capital
has raised two funds focused purely on real estate in India. Despite
pressures, the funds have deliberately adopted a cautious approach
to the Indian real estate markets because of perceived unsustainably
high valuations, in its first two years of operations, investing
barely 20% of committed capital. However, given capitulation in
the markets that commenced earlier this year accelerating more recently,
Konark Capital is seeking to take investment positions with highly
reputed businesses who have a reputation for quality and execution
Konark Capital Partners is working towards setting
up an infrastructure investment fund focused on India, perhaps with
some leeway for other regional territories. This is planned for
early 2009 given present conditions in global markets. Konark Resources
is actively expanding its advisory business relating to both real
estate development and infrastructure development activities in
India through a fully owned Indian subsidiary, Konark Real Infra
Limited, based in Chennai. These include projects in four locations
valued by cost at over US$ 5 billion.
In addition to Konark, Mr. Jaganathan, serves on
the boards of several other companies in the sector in non-executive
Head of Marketing
Ras Al Khaimah Investment Authority
Alex Thomas has been working with international
companies in Middle East and Sub-continent in the area of sales
and marketing over 14 years. Started the career in the Year 1994
in Dubai with Asteco, a leading property management company in the
sales division to current position as Head of Marketing with RAK
Investment Authority, has brought him wide experience in the region.
Prior to joining RAKIA in the year 2004, Mr. Thomas was working
for the international market research firm called GallUP as the
Team Leader. Alex Thomas completed Masters in Business Administration
(MBA) from University of Hull (United Kingdom) and also possesses
Masters degree in Commerce (Mcom) from India.
His portfolio as Head of Marketing in RAKIA is
to promote quality inward investments in manufacturing, trade and
commerce. His job includes conducting market opportunity studies,
assessing feasibility studies, create advertisement and promotional
strategies, stream line marketing process and procedures, create
strategic partnership with associations abroad, advice investors
on free trade zone/investment formalities, identify and market RAK
to the prospective investors, and maintain Investor relationship.
During the Year 2005, he worked closely with WORLD
BANK to identify Investment opportunities in RAK. Represented RAKIA
in forums, events, exhibitions and made briefings to visiting delegates
to RAK which includes presidents, ministers, and trade organization
Peter- Michael Schuster
Ras Al Khaimah Offshore
Peter-Michael Schuster, born 1949 in Hamburg/Germany,
married with three children, earned aMBA from the University of
Hamburg with majors in Banking, Auditing and Business Law.
In 1977 he started his professional career as an auditor in Deutsche-Suedamerikanische
Bank AG. In 1981 he joined Dresdner Bank AG, nowadays part of the
Allianz Insurance Group, and was part of the team that establishes
foreign entities worldwide.
Therefore he worked in Panama, Milan, Prague (in a joint venture
with BNP, Paris), Shenzhen, Bangkok and Moscow and S1. Petersburg
in GM and COO positions.
After his banking career he set up his own Business Consultancy
firm in Thailand, mainly for Swiss and German private customers.
One year ago he joined the Government of Ras AI
Khaimah in order to establish a Financial City within the RAK Investment
Authority, establishing non financial activities like IBC's, a maritime
registry for private boats and yachts and Outsourcing; financial
products will follow after federal approval.
N V Sivakumar
Sivakumar (‘Shiv’) aged 45 years is
a Chartered Accountant by profession and has over two decades of
experience in PwC assuming varied roles within the Assurance and
Advisory Services practice disciplines. Based in Bangalore, he has
been the lead partner for several of the firms key clients. Shiv
also has an international experience having worked in PwC Offices
in the Middle East and London for over 3 years.
Shiv has been lead Partner for several of the firm’s
key accounts, including, Britannia Industries Limited (Danone Group),
Birla 3M Limited (3M Inc.,), Volvo India Private Limited, ITC Filtrona
Limited, Parry Monsanto Seeds Private Limited, to name a few. Shiv
has also audited/advised large MNCs in the Retail and Consumer Industry
sectors including Metro Cash and Carry, Landmark Group, Britannia
Industries, UB Group, etc.
Shiv currently leads the CIPS (Consumer and Industry
Products and Services) practice in India. He has significant experience
in carrying out financial due diligence, transaction advisory service,
target search/evaluation, business plan reviews, advice on accounting/structuring
issues and cross border transactions. He has advised many corporate
and private equity players on transactions in the technology, fast
moving consumer goods and manufacturing sectors.
He has been a guest speaker at various industry
forums in India and abroad.
Deputy General Manager
Bank of Baroda, Dubai
Mr. V. H. Thatte is a Chartered Accountant by qualification.
He joined Bank of Baroda in the year 1978 and during the span of
more than 30 years he has worked practically in all the areas of
banking like, General Banking, Corporate Credit, FOREX, International
Operations etc. He was also at Bank of Baroda’s New York office
for the period of -5- years, during which he worked in Credit Department
and Money Market Operations.
Presently Mr. Thatte is working as a Deputy General
Manager, looking after the International Credit at the Corporate
Office of Bank of Baroda at Mumbai.