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Karim A. Souaid possesses deep expertise in banking regulations, spanning U.S., and Lebanese frameworks. His academic foundation in this field was established at Harvard Law School, where he studied banking law extensively and prepared his thesis on the Glass-Steagall Act of 1933, a landmark piece of U.S. legislation that enforced the separation of commercial banking from speculative investment banking. This in-depth research provided him with a strong grasp of the regulatory philosophy behind financial market stability and systemic risk mitigation, along with the subsequent impact of the Act’s repeal under the Gramm-Leach-Bliley Act of 1999. Mr. Souaid’s knowledge extends beyond historical analysis, as he remains well-versed in contemporary U.S. banking regulations, including Dodd-Frank, Volcker Rule, and the compliance frameworks governing capital adequacy, risk assessment, and liquidity requirements in global financial institutions.

 

 

In the Lebanese banking sector, Mr. Souaid has first-hand experience in regulatory compliance, financial structuring, and capital markets. Between 1996 and 2000, he has worked extensively on the issuance of bank equity and bank securities in Lebanon, ensuring adherence to the Banque du Liban (BDL) regulations and Lebanese capital markets authority guidelines. His advisory roles on bank IPOs, GDRs and CDs/debt issuances have provided him with comprehensive exposure to the complexities of Lebanese banking law, particularly concerning capital adequacy, risk-sharing mechanisms, and shareholder rights in financial institutions. Furthermore, in his previous role as the Chairperson of the Audit Committee of an Emirati bank operating in Lebanon, he has demonstrated a high level of proficiency in banking oversight and risk management, ensuring strict compliance with Lebanon’s Banking Control Commission (BCCL) regulations as well as international banking standards such as Basel III. His role requires constant engagement with internal audit frameworks, financial reporting integrity, and regulatory compliance reviews, reinforcing his standing as a specialist in banking governance and prudential regulation.

Beyond private banking transactions, Mr. Souaid has exhibited exceptional leadership in public sector financial transactions, including privatization initiatives in the Middle East. His experience in this domain has involved drafting and negotiating privatization laws, working closely with legislators to ensure legal frameworks that uphold investor confidence while safeguarding public interests. He has also collaborated with regulatory bodies to establish oversight agencies, ensuring transparency and accountability in newly privatized sectors. His work has further extended to the Ministries of Finance and Central Banks, in the UAE, Qatar, Oman, Kuwait, Bahrain and Jordan where he has played a critical role in structuring and directing the public issuance and sale of securities for privatized entities, navigating the intricate regulatory and financial landscapes to achieve successful capital market transactions. His ability to coordinate between governments, financial institutions, and investors highlights his expertise in structuring large-scale economic transitions, reinforcing his reputation as a trusted leader in banking regulations and financial governance.

Specific Professional Experience

Karim A. Souaid is the Founder and Managing Partner of Growthgate Equity Partners, an alternative asset management firm that invests, on behalf of Growthgate Capital, in privately held businesses across the Gulf Cooperation Council (GCC) and the broader MENA region. Under his leadership, Growthgate Equity Partners has established itself as a private investment management firm, fostering strategic growth and value creation for portfolio companies.

Shortly after passing the NY State Bar Association exam, Karim A. Souaid worked as an associate from 1989 to 1995 in the NYC law firms, including Gordon, Hurwitz, Butowsky, Weitzen, Shalov & Wein which specialized in securities, banking and corporate finance transactions including IPOs, M&A, and debt restructurings for a range of blue-chip U.S. corporations.

Prior to founding Growthgate Equity Partners in late 2006, Mr. Souaid served as Managing Director of Global Investment Banking at HSBC Bank (Middle East) from May 2000 to May 2006. During his tenure, he successfully led the execution of several landmark transactions in the Middle East, including but not limited to:

* Arab Potash Privatization (2003, Jordan): Facilitated the sale of 50% of the government’s 52.8% stake to Potash Corporation of Saskatchewan, the world’s largest potash producer and Canada’s leading fertilizer manufacturer.

* Industries of Qatar (IQ) Privatization (2003, Qatar): Led the divestment of 15% of IQ’s capital to Qatari investors for $1.37 billion, followed by a successful listing on the Doha Stock Market.

* Agthia Privatization (2005, UAE): Structured the sale of 49% of Agthia’s capital to UAE investors for $80 million, culminating in its listing on the Abu Dhabi Stock Exchange.

* Dana Gas IPO (2005, UAE): Orchestrated the sale of 34.33% of Dana Gas’ capital, raising AED 2.06 billion, followed by its listing on the Abu Dhabi Stock Exchange.

* Investcom Holding IPO (2005, UAE): Spearheaded the sale of $741 million in shares for the Dubai-based mobile phone operator in the largest international IPO by a Middle Eastern company at the time, with a dual listing on the London Stock Exchange and Dubai International Financial Stock Market.

* Omantel Privatization (2005, Oman): Directed the sale of 30% of Omantel’s capital to Omani investors, raising $750 million, followed by a listing on the Muscat Stock Exchange.

* Arkan Privatization (2006, UAE): Arranged the sale of 49% of Arkan’s capital to UAE investors for $239 million, with a subsequent listing on the Abu Dhabi Stock Exchange.

* Jordan Phosphate Privatization (2006, Jordan): Advised on the sale of the government’s stake in the world’s sixth-largest phosphate producer to the Sultanate of Brunei Investment Authority.

Education & Academic Contributions

Mr. Souaid holds an LL.B. from the Jesuit School of Law at St. Joseph University (Lebanon)and an LL.M. from Harvard Law School (HLS). At HLS Mr. Souaid’s Masters’ thesis was on the critical subject of U.S. Banking Regulations and particularly the “Glass-Steagall Act” which is the milestone legislation that separated commercial banking from speculative investment banking. Additionally, he has earned Executive Program diplomas from Harvard Business School (HBS) in Corporate Valuation and Restructurings, as well as in Business Negotiations from HLS/HBS. He has been a member of the New York State Bar Associationsince 1989.

Between 2010 and 2014, Mr. Souaid collaborated with Professor Josh Lerner and faculty members at Harvard Business School, contributing to five white papers on private equity in the Middle East. He is also an active contributor to the International Negotiation Program at Harvard University, led by Professor Dan Shapiro.

In 2017, Mr. Souaid initiated and sponsored the drafting of an academic paper by the Program on Negotiations at Harvard University, led by Professor Daniel Shapiro, focusing on the formation of the United Arab Emirates. More recently, in 2023, through Growthgate Equity Partners, he initiated a study on the recovery of Lebanon’s financial and banking system, led and authored by Professor Ricardo Hausmann of the Harvard Growth Lab, part of the Kennedy School of Government at Harvard.

Personal Interests & Publications

Mr. Souaid was born in Kartaba Mount Lebanon, in 1964. He is married with three children, and a holder of a Lebanese passport. Mr. Souaid has a deep interest in finance, history, and geopolitics. His insights and analyses have been featured in leading global publications, including The Wall Street Journal and The Financial Times.