Executive Committee

Ahmed Heikal
Chairman and Founder Prior to founding Citadel Capital, Mr. Heikal was an executive board member and Managing Director of EFG Hermes Holding, which he helped transform from a small financial consultancy into the leading investment bank in the Arab world and the second largest full-service investment bank in global emerging markets. He was head of asset management (1994-95), head of securities (1997-99), head of investment banking (1996-97) and head of private equity (1999-2001). There, he spearheaded highly successful private equity investments, one leading to the creation of Egypt’s leading IT company (Raya Holding) and another to the nation’s largest natural gas distribution company (Genco). He also raised three rounds of finance for regional mobile telecommunications operator Orascom Telecom and led the IPOs of Orascom Construction Industries, Orascom Hotels and Ezz Steel, and the latter’s subsequent convertible bond to finance the acquisition of ANSDK. Mr. Heikal holds a Master’s degree and a PhD in Industrial Engineering and Engineering Management from Stanford University.

Hisham El-Khazindar
Managing Director and Co-Founder Prior to co-founding Citadel Capital in 2004, Mr. El-Khazindar was Executive Director of Investment Banking at EFG-Hermes, where he advised on key transactions including the IPOs of Orascom Construction Industries, Ezz Steel and Orascom Telecom. In 1999, he was on secondment to Goldman Sachs in London, where he advised European firms on strategic options and M&A transactions. Mr. El-Khazindar sits on the boards of leading regional companies including ASEC Holding and El Sewedy Cables. He is the Chairman of the Capital Markets and Investment Committee at the American Chamber of Commerce in Egypt and a board member of the Egyptian Capital Markets Association. He holds a BA in Economics from the American University in Cairo and an MBA from Harvard Business School.

Karim Sadek
Managing Director Prior to joining Citadel Capital, Mr. Sadek was Managing Director of the Arab Investment Company (ABIC), one of the largest private-equity firms in Egypt. During his tenure, Mr. Sadek returned a substantial part of the firm’s total investments (valued at over EGP 500 million [US$ 90.91 million]) to ABIC’s shareholders in the form of dividends and share buybacks. Mr. Sadek holds a Master’s in International Securities, Investment and Banking from the Business School for Financial Markets at the University of Reading in the United Kingdom. He has extensive experience in corporate banking and credit risk assessment through his work both at the Commercial International Bank (CIB) and Arab Bank.

Ahmed El Houssieny
Managing Director Mr. El Houssieny joined Citadel Capital in 2005 after serving as Director of Investment Banking at Barclays Bank Egypt. Mr. El Houssieny was also an executive committee member personally responsible for setting the bank’s strategic direction and evaluating non-organic growth options. Previously, Mr. El Houssieny worked with Citigroup Investment Bank’s North West Africa Team, where he spearheaded the origination, structuring and execution of complex corporate financing solutions for large businesses and financial institutions. He holds a BA in Political Science and Business Administration from the American University in Cairo and an MBA, with distinction, from the Maastricht School of Management.

Marwan Elaraby
Managing Director Prior to joining Citadel Capital in 2005, Mr. Elaraby was a partner at Shearman & Sterling LLP in New York, one of the leading global law firms, focusing on high-yield and leveraged acquisition finance as well as oil & gas transactions. Mr. Elaraby was earlier an executive director at EFG Hermes, the premier regional investment bank, where he worked as an investment banker advising clients on numerous capital markets and M&A transactions. Mr. Elaraby studied Economics at the American University in Cairo and Yale University and also holds a Juris Doctor from Columbia University School of Law.

Ahmed El Shamy
Managing Director and Chief Financial Officer Prior to joining Citadel Capital, Mr. El Shamy previously served as Founder and Chief Financial Officer of Fayrouz International (FI), where he was responsible for all finance, accounting and information technology functions as well as working with Fayrouz International’s president to develop new business. Before starting up FI, Mr. El Shamy was Chief Financial Officer for Al-Ahram Beverages Company (ABC), where he led the development of systems and financial reporting, transforming ABC from manual public-sector standards and systems to automated systems compliant with International Accounting Standards and ultimately with Heineken reporting standards. Mr. El Shamy holds a BA from Helwan University’s Faculty of Commerce.