Aluminium Bahrain appoints ex-consultant Adnan Hashim as new CFO

20 April 2018

Aluminum Bahrain has announced the appointment of Adnan Hashim as its new Chief Financial Officer, effective from the beginning of last month.

With revenues pushing toward the $2 billion mark, Aluminum Bahrain, known more familiarly as Alba, is one of the biggest industrial enterprises in the Middle East – and, in terms of aluminum production, among the largest in the world. In effect as of last month, the former financial services consultant Adnan Hashim will now be responsible for the firm’s multi-billion dollar books as its newly appointed Chief Financial Officer.

A Certified Chartered Accountant from the Association of Chartered Certified Accountants, UK, with a distinction-level MBA from the University of Strathclyde, Hashim has a vast wealth of experience in the financial realm – and in particular in the MENA region – serving currently also as the Chairman of the Association of Certified Chartered Accountants (ACCA) Members Advisory Committee for Bahrian, having been in the role since 2014.

Further, Hashim is the founder and Managing Partner of Istishara Consulting, a Bahrain-based consulting firm attending the wider Middle East with a range of advisory services in areas such as corporate strategy, acquisitions and joint ventures, start-up guidance, CRM and investor relations, valuations, and audit, accountancy, legal and tax outsourcing – with Hashim applying his knowledge in financial and management consulting, along with diverse skills in asset management, mutual funds, and mergers & acquisitions.Adnan Hashim, CFO Aluminum Bahrain - Aluminium BahrainPrior to joining Alba and founding his own firm in 2014, Hashim held the CFO position for nearly seven years at NCB Capital in Saudi Arabia, responsible for all of the financial aspects of the firm and its subsidiaries, before which he served as the General Manager of the organisation’s Bahrain office. The National Commercial Bank of Saudi Arabia, which Hashim initially joined in 1993, is the second largest bank of the Arab world, while NCB Capital is the largest asset manager in the Kingdom, with approximately $40 billion in assets under management.

“We are pleased to welcome another Bahraini National to the Executive team in Alba,” the firm's Chief Executive Officer, Tim Murray, said on the announcement, “Over the course of his career, Adnan has proven his leadership skills as well as his ability to deliver results at the executive level. Adnan’s experience in the banking industry will be a valuable asset to Alba as we continue to advance through our landmark Line 6 Expansion Project.”

The Line 6 Expansion Project is aimed at increasing the Alba aluminum smelter’s annual production by more than a half, adding 540,000 metric tonnes for a total capacity of 1.5 million per year. Expected to kick off production at the beginning of next year, the $3 billion capex project is one of the largest brownfield developments underway in the region, and will make Alba the world’s largest single-site aluminum smelter on completion.

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Carlos Ghosn's daughters get their career starts in strategy consulting

16 April 2019

With the Ghosn affair taking yet another twist, this time concerning allegations in Oman, the world’s media remains gripped.

A highly celebrated figure in Lebanon, the case of ex-Nissan and now ex-Renault head Carlos Ghosn has captivated the media round the world, with his re-arrest and detainment in Japan on further embezzlement charges last week – this time concerning allegations in Oman – delivering the latest twist in the saga. For his part, Ghosn continues to deny the charges, labeling the latest allegations of financial impropriety as “outrageous and arbitrary”.

Much of the media fascination stems from Ghosn’s remarkable story. Born to Lebanese immigrants in Brazil, Ghosn spent much of his youth in Lebanon before moving to Paris to pursue an engineering degree – and in almost no time arriving at the very top of the global automotive industry as a feted turn-around specialist, having rescued both Renault and Nissan from probable ruin. The other factor; a cultivated lifestyle of celebrity glamour.

Front and centre in that image was Ghosn’s young family, including a son Anthony and three daughters – Caroline, Maya and Nadine – who have all grown into their own spotlight in the international business and entrepreneurial worlds. And in line with that A-list background, all three of his daughters got their career starts at the crème de la crème of the strategy and management consulting world; prestigious MBB firms McKinsey & Company and BCG.The Ghosn family affair with the international consulting sector  The eldest Ghosn daughter, Caroline, joined McKinsey in 2007 following a BA in International Relations at Stamford University – before founding professional career network Levo in 2011 with three of her McKinsey associates. Her husband, Nicholas Flanders, CEO and co-founder of carbon reduction tech-company Opus 12, (and former COO of Levo), is likewise an alumnus of McKinsey – serving for three and a half years alongside Ghosn in the firm’s New York office.

Carlos Ghosn’s second daughter got her start at Boston Consulting Group.  A regonised name in luxury fashion as the founder and creative director of Nadine Ghosn Fine Jewelry, her brand counts and Beyoncé and the recently deceased fashion icon Karl Largerfeld among its celebrity clientele. At BCG, Nadine, who also graduated Stamford, served as an associate in the firm’s luxury and consumer goods practice before joining a management programme at Hermès.

Like her eldest sister, Ghosn’s youngest daughter Maya joined McKinsey’s New York office – spending over three years there as an engagement manager before departing in 2016. Maya is now Manager, Housing Affordability for the Chan-Zuckerberg Initiative, founded by Mark Zuckerberg and Pricilla Chan to promote social equality. Incidentally, Facebook’s Sheryl Sandberg, a former McKinsey consultant, has been a mentor to Caroline and also founded, where Maya first started out as an intern.

Carlos Ghosn’s son Anthony – who has now been embroiled in his father’s affair with accusations of money being funneled via Oman toward his financial services start-up, Shogun (where he is CEO but has not been accused of any direct involvement) – didn’t get his break at an MBB, but his step-brother, Anthony Marshi, the son of Carlos Ghosn’s second wife Carole Nahas, is a partner with BCG in New York according to French newspaper Le Figaro.