Karim Souhaid has been appointed Governor of the Lebanese Central Bank on Thursday during the Cabinet meeting with a majority of 17 votes (7 ministers voted against his nomination).
Born in 1964 in Qartaba, Mount Lebanon, Karim Antoun Souhaid is a prominent figure in the world of finance and banking regulation, with expertise spanning the United States and the Middle East.
With international experience in finance, Karim Souhaid has developed deep expertise in financial regulation, public and private transactions, and banking governance.
Married and a father of three, Karim Souhaid is also the brother of former MP Fares Souhaid.
Academic Background
Karim Souhaid holds a law degree from Saint Joseph University in Beirut.
He then pursued graduate studies at Harvard Law School in the United States, where he earned a Master of Laws (LL.M.).
His thesis focused on the study of the 1933 Glass-Steagall Act, a key piece of U.S. banking regulation. His extensive expertise in banking law and financial regulation has enabled him to master issues related to financial stability and systemic risk management.
He has been a member of the New York State Bar since 1989.
Professional Career
Karim Souhaid has held several high-level positions in international finance:
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Managing Director of Investment Banking at HSBC, where he gained solid experience in global finance.
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Co-founder and Managing Partner of GrowthGate Equity Partners, a UAE-based firm specializing in alternative asset management and investments in private companies across the MENA region.
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Board member of Emirates Lebanon Bank, led by Varouj Nerguizian, financial advisor to Lebanese President Joseph Aoun.
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Expert in banking regulation, proficient in both U.S. (Dodd-Frank, Volcker Rule) and Lebanese financial compliance and banking supervision regulations, including Basel III standards.
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Architect of major privatizations and transactions in the Middle East, having contributed to the privatization of Arab Potash (Jordan), the IPOs of Industries of Qatar and Agthia (UAE), as well as the IPO of Investcom Holding, which was the largest IPO of a Middle Eastern company at the time.
Political Reactions and Challenges
Karim Souhaid's name was among several potential candidates for the governorship of the Banque du Liban, alongside figures such as Jihad Azour, Samir Assaf, Eddy Gemayel, and Jamil Baz.
Souhaid received the backing of President Joseph Aoun, although his appointment was contested by Prime Minister Nawaf Salam, who supported Firas Abi Nassif, a close relative backed by the Kulluna Irada group.
Furthermore, the international community is closely monitoring this appointment, particularly the United States , who are keen on seeing a figure of integrity committed to implementing necessary economic and banking reforms in this position.
Academic and Intellectual Contributions
Karim Souhaid is an active contributor in the fields of finance and geopolitics. He has published articles in The Wall Street Journal and The Financial Times and has collaborated with Harvard researchers, such as Professor Josh Lerner, on studies related to private equity in the Middle East.
Newly confirmed as the Governor of the Banque du Liban, Karim Souhaid will face major challenges: restructuring the banking sector, stabilizing the national currency, and implementing the reforms demanded by the international community.
His experience in finance and expertise in banking regulation could make him an effective governor, ready to tackle these challenges at a crucial moment for Lebanon, which is undergoing a period of transition.
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