Youssef Salem: An Inspiring Journey from Cairo to CFO of ADNOC Drilling
Youssef Salem, currently the Chief Financial Officer at ADNOC Drilling, has risen to remarkable heights in the high-stakes world of finance and energy. Known for his dynamic approach and strategic vision, Salem has led pivotal transformations at each stage of his career, leveraging his financial expertise and drive to help companies achieve unparalleled success. His story is one of resilience, innovation, and a commitment to excellence.
Early Beginnings and a Strong Foundation
Salem’s journey began at the American University in Cairo, where he demonstrated a keen interest in finance and strategic leadership. After an internship with QInvest, Qatar’s largest investment bank, he joined the company full-time, quickly gaining experience in complex financial environments. His early role in QInvest’s transformation into a merchant bank honed his skills, preparing him for future challenges.
Driven by ambition, Salem moved to the UAE to join Moelis & Co., a globally recognized investment bank. He progressed rapidly to Executive Director and Senior Advisor roles, where he played a key role in the strategic transformation of ADNOC and the historic in corporate development program of Aramco Salem’s efforts contributed to Moelis’s rise as the largest investment bank in the Middle East, further establishing his reputation in the finance world.
Making History with Swvl and AIQ
Salem’s unique achievements include being the youngest CFO on both Nasdaq and the Abu Dhabi Exchange. As the CFO of Swvl, the first mass-transit tech platform to go public and the first Egyptian startup listed on Nasdaq, Salem helped the company achieve unicorn status with a valuation of $1.5 billion. This milestone highlighted his ability to navigate the challenges of taking a company public on the global stage, marking a new era for Middle Eastern startups.
Following his success at Swvl, Salem joined AIQ, the first AI-driven unicorn in the region, born from a $1.4 billion merger with Presight. Salem’s strategic financial guidance played a crucial role in positioning AIQ as a tech leader, further underscoring his capacity to drive value creation and innovation.
ADNOC Drilling: Leading Financial Strategy in a Transformative Industry
In his current role as CFO of ADNOC Drilling, the world’s largest integrated drilling company, Salem oversees strategic financial initiatives, including a $935 million accelerated bookbuild, a $1.5 billion joint venture with Alpha Dhabi, and $2 billion in financing. Salem combines his deep financial expertise with innovative problem-solving, which is essential in the volatile energy sector, marked by fluctuating commodity prices and increasing environmental regulations. His vision for ADNOC Drilling is to position it as a leader in sustainable, technologically advanced drilling operations.
Salem’s approach centers on relentless execution for value creation. He sees the CFO’s role as both a financial steward and a key driver of returns, aiming to deliver value for shareholders while aligning with environmental, social, and governance (ESG) commitments. Salem’s leadership style emphasizes empowerment, providing his team with the resources and support to contribute meaningfully to the company’s growth and innovation.
Personal Insights and Core Beliefs
When asked about his greatest achievements, Salem cites his role in leading Swvl and AIQ to unicorn status, both historic firsts in the region. He is inspired by a quote from Prophet Muhammad: “If the Final Hour comes while you have a palm-cutting in your hands and it is possible to plant it before the Hour comes, you should plant it.” To Salem, this teaching emphasizes the importance of persistence, resilience, and action, regardless of the scale of one’s efforts.
For Salem, wealth and success are not purely financial. He believes in using his success to provide a stable future for his family and to contribute positively to society. He sees fulfillment and happiness as essential elements that fuel his ambition, creating a balanced, purpose-driven life.
Looking to the Future: Challenges and Opportunities in Drilling
As the drilling industry evolves, Salem remains committed to leading ADNOC Drilling through the changes ahead. He highlights the importance of ESG mandates, noting that today’s investors prioritize sustainable practices and expect drillers to demonstrate genuine progress toward net-zero targets. For Salem, navigating these demands requires a forward-thinking approach that integrates climate tech, AI, and autonomous drilling into ADNOC Drilling’s strategy.
Salem is particularly excited about the future of autonomous drilling rigs, which aim to enhance safety by reducing on-site hazards and allowing for remote control operations. He views technological advancements as essential to addressing rising energy demands, especially given the growing need for energy-intensive AI and data centers.
Words of Advice for Aspiring Leaders
Reflecting on his journey, Salem encourages young professionals in the energy sector to embrace a balanced focus on energy transition, climate technology, and AI. He emphasizes the importance of starting with a strong foundation in a specialized area before branching out to other roles that broaden one’s perspective. This combination of depth and versatility, he believes, enables future leaders to thrive in complex industries like drilling and finance.
Salem’s inspiring path from Cairo to the executive suite of ADNOC Drilling is a testament to the power of resilience, strategic thinking, and a commitment to making a meaningful impact. For aspiring CFOs and industry leaders, his story serves as a reminder that ambition, when coupled with a purpose-driven approach, can open doors to extraordinary achievements.
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