Follow The Leader: Haisam Odeimeh, Group CEO - Financial Services, Al Ramz "The challenge of managing change within an organization steeped in tradition has been significant, but I believe our accelerated digital adoption has positioned us well for future success."

This article is a part of the 2024 edition of Entrepreneur Middle East's annual Follow The Leader series, in which enterprise head honchos from the region talk strategy, industry-specific tactics, and professional challenges as they lead their respective businesses to success.

When Haisam Odeimeh joined UAE-based financial institution Al Ramz in the latter half of 2017 as its Chief Financial Officer (CFO), he had come into a company that was already close to celebrating its 20th anniversary. You see, Al Ramz was founded in 1998, and since then, the institution has offered its services in the UAE across a wide range of areas including asset management, corporate finance, brokerage, security margins, market making, liquidity providing, public offering management and financial research. Odeimeh, who has been a key personnel in introducing innovation within Al Ramz's offerings over the years, is today the company's Group CEO - Financial Services, and it is a role that he claims to be relishing. "My role at Al Ramz is to guide our strategic vision while ensuring we stay true to our core values," Odeimeh shares. "I oversee the formulation and execution of our plans, particularly in financial technology, where we aim to pioneer innovative solutions in trading and investment. What excites me most is the opportunity to push boundaries, creating solutions that truly benefit our clients. As such, my approach to managing responsibilities is rooted in collaboration; I prioritize strategic goals, and I then work closely with our teams to ensure alignment and shared focus, all while fostering an environment of trust and innovation."

Now, right from the start of his Al Ramz journey, Odeimeh has been a part of a firm that carries a lot of history, and with that comes the added responsibility of staying true to its legacy as well. So, how has Odeimeh managed to strike a balance between keeping up with the latest fintech trends, while also carrying forward Al Ramz's core values? "Well, maintaining this balance requires a flexible yet steadfast approach," the Group CEO replies. "While our principal goals, maximizing investor returns, reducing risks, and fostering a well-informed investor community, remain constant, we recognize the need to adapt our strategies to meet evolving market demands and regulatory changes. The key is to stay true to our vision while being open to innovation, allowing us to pivot when necessary without losing sight of our foundational values."

This is thus the ethos with which Odeimeh has now taken on a brand-new responsibility of being at the helm of Al Ramz's new trading app, which is simply called the Al Ramz app. Built as an avenue that offers comprehensive insights into listed companies, this app allows investors to trade in the US and the UAE markets, while offering real-time market feeds and news updates, detailed market information, and an array of analytical tools that enable informed decision-making. The top distinct feature of the app—one that Odeimeh and his team are betting on heavily—is the inculcation of a robo-advisor that is powered by generative artificial intelligence (GenAI). This tool promises to offer investment advice that is tailored to any given user's financial goals at an affordable rate—an end result that is typically associated with expensive traditional advisory services. "Unlike many other market participants, we focus on building bespoke portfolios, rather than relying on proxies like exchange traded funds (ETFs)," Odeimeh addss. "This approach, combined with advanced quantitative models and rapid execution capabilities, allows us to offer a service that is not only cost-effective, but also highly responsive to market conditions, safeguarding our clients' interests."

A notable highlight of the app is that in addition to the American and Emirati markets, it also allows trading in other regional markets, while including instant access to initial public offerings (IPOs) in the UAE. What's more, in a bid to provide a simplified registration process, users can enjoy quick and direct access to the app through their UAE Pass, Gmail, Apple, or LinkedIn accounts, thereby enabling them to start trading within seconds. Available in both English and Arabic, the Al Ramz app also offers a copy trading feature using which investors can automatically replicate the trading strategies of successful investors. "Our primary goals with this trading app are to create a knowledge-based investment community, facilitate innovative investment modes like social trading and robotic advisory, and ultimately become the market leader in client profitability," Odeimeh says. "To create a lasting impact, I believe the key lies in balancing innovation with a deep understanding of our customers' needs. This means staying true to our core mission of maximizing investor returns while continuously evolving our services to meet the demands of a dynamic market."

Now, while Odeimeh's leadership skills have certainly been influenced by the Al Ramz culture, he notes that his past experiences at UAE-based audit, tax and advisory services firm KPMG Lower Gulf and UAE-based Al Hilal Bank have also played a key role. "My career has been shaped by experiences that have instilled in me the importance of leading with vision and empathy," Odeimeh observes. "On this journey, I learned the value of integrity and attention to detail, while my role in setting up a commercial bank taught me the importance of adaptability and collaboration. These lessons have greatly influenced my leadership at Al Ramz, where I strive to lead in a way that is both decisive and inclusive."

Haisam Odeimeh, Group CEO - Financial Services, Al Ramz. Source: Al Ramz

As such, the culmination of his experiences have so far molded Odeimeh into the business leader that he is today, but when asked if he has any role model he looks up to, Odeimeh says there is no one name he'd pick over another. "I've drawn inspiration from a diverse range of leaders across various fields, rather than any one individual," he explains. "It's the collective ingenuity, resilience, and capacity to drive meaningful change that I admire most. The way these leaders navigate complex challenges, foster innovation, and unite teams towards a common goal is something I strive to emulate in my own leadership. If I had to describe my leadership style in three words, they would be: empowering, collaborative, visionary. These traits are at the core of how I lead, ensuring that our team is motivated, aligned, and always looking ahead to the future."

For the foreseeable future, Odeimeh has his work cut out for him as he drives the growth of the Al Ramz app, a project that, in many ways, is a manifestation of the tradition-meets-innovation premise that he has carefully crafted over the years. "The journey of developing our latest trading app has been both challenging and rewarding," Odeimeh says. "One of the most promising outcomes is the creation of a platform that not only meets, but anticipates, our users' needs, fostering a more informed and engaged investment community. However, this journey has also highlighted the need for continuous adaptation. We're committed to refining the user experience, integrating feedback, and enhancing the app's capabilities to ensure it remains a leader in the market. The challenge of managing change within an organization steeped in tradition has been significant, but I believe our accelerated digital adoption has positioned us well for future success."

The Executive Summary: Haisam Odeimeh shares his tips for entrepreneurs

Foster a culture of innovation "Encourage your teams to think creatively, and challenge the status quo. Make innovation an ongoing practice, not a one-time event."

Lead with empathy and vision "Balance strategic goals with a deep understanding of your team's needs. A clear vision is essential, but connecting with your people is what drives success."

Empower your people "Trust your team to take ownership of their roles. Empowerment leads to accountability and drives individuals to exceed expectations."

Adapt and evolve "Stay flexible and open to change. The ability to adapt strategies and approaches as new challenges arise is crucial for long-term success."

Related: Follow The Leader: Briar Prestidge, Founder And CEO, Prestidge Group