Ayman Hamed, CEO of International Securities: Each week, My Morning Routine looks at how a successful member of the community starts their day — and then throws in a couple of random business questions just for fun. Speaking to us this week is Ayman Hamed (LinkedIn), CEO of International Securities. Edited excerpts from our conversation:

My name is Ayman Hamed. I’m the CEO of International Securities. I joined the firm after First Gulf Bank sold First Gulf Financial Services to an investment firm in Abu Dhabi and changed its name in 2015. I led my team in restructuring it and rebranding it to Integrated Securities and Shuaa Securities. In 2019, after IHC acquired the company, we changed its name to International Securities. I think it was around that time that the brokerage really began to boom in terms of profitability and market share after a long history in the UAE capital markets spanning roughly 25 years.

We played a big role as lead placement agent and joint bookrunner on the IPOs that took place in 2020 on the ADX — since then, we’ve held a nearly 50% market share on the ADX as of the end of 2024, and a 35% market share on both ADX and DFM, which is the biggest share among all brokerage firms in the UAE over the past five years. Covid-19 pushed us to lead a digital transformation initiative so we can continue to reach clients. KYC was a big challenge at the time, but we adopted a fully digital KYC and onboarding process with the help of AI for identity verification & documents verification.

We also began to introduce more services like a new application for e-trading. We introduced a digital IPO platform to reach more clients as well, which I believe is one of the most advanced in the UAE. You can access the IPO portal, read the prospectus and terms and conditions, research, and transfer cash in and out — all through the app. You need access to financial information related to the company you want to subscribe to, like company valuations — and we have a research library full of information on all listed companies on the ADX and DFM. We also offer the most competitive fee structure among brokerage firms in the UAE.

We’ve managed to reach 40k clients, which for banks might seem like a small figure, but in brokerage terms as an active advisory firm, it’s huge. We’ve played an advisory role and acted as lead placement agent for roughly 25 IPOs in the past five years.

We’ve been in a constant spiral of big events starting with financial crises, to covid-19, and have seen plenty of ups and downs, but over the past five or six years, there’s been a huge number of listings. Big and small firms alike listed on the ADX and DFM — around 29 on the former and 11 on the latter — during that time. Just this last month, stock markets entered correction territory, but they’ve rebounded since. What I’m trying to say is there's never a perfect time to list on public markets — you need to just plan and be ready for an IPO, because the listing process is long and requires a lot of regulatory approvals and legal documentation, and these periods of correction rarely last too long.

The way I see it is: The phase of working to revive appetite in capital markets and boosting flows is behind us, and that’s reflected in the growth of daily turnover on the ADX (from AED 450 mn to around AED 1.5 bn) and the overall market cap. We’re now in a new phase where the focus is on how these public companies are performing, learning their stories, and analyzing and assessing previous IPOs to determine what worked well and what didn’t, and to boost awareness of active investing.

I also see the brokerage model itself shifting. You used to have brokers running around the office to process orders and get them to banks and the clearing unit, etc, and a big back office team dealing with banks for settlement. Now, everything is on the app and automated. Brokerages are becoming more like fintechs, in addition to doing compliance work and wealth management. Traders need to be spending their time on providing advisory services (after getting their licenses), not just on processing orders.

Using AI tools will also help brokerages be more efficient with limited human resources. In the future, a good manager won’t just need to lead people, but also effectively manage AI tools and systems in their field. The ability to collaborate with AI — interpreting its outputs, questioning its conclusions, and guiding its use responsibly — will be a critical leadership skill.

I start my day with a 45-minute workout at the gym — this plays a huge role in helping me de-stress. I’m at the office by 9am. Since I work in the stock market, it’s essential that I stay up to date with what’s happening in global markets. I read EnterpriseAM, among other newsletters that summarize everything well and as accurately as possible. The trading session begins at 10am, and my role is to focus on improving our services to clients daily, and to work on expanding our business and reaching more clients and investors, whether local or foreign ones.

Our goal as a company is to continue to lead the market as the most trusted, profitable, and high-performing digital brokerage firm. Market share is very important, but maintaining profitability, expanding shareholder value, and boosting returns on equity and investment is essential. The focus remains on UAE markets — because I believe in specialization.

A book I return to time and time again is Who Moved My Cheese?, which was recommended to me by a friend, who told me I have to read it several times. The point of the story is: Always be prepared and don’t leave things till the last minute. I enjoy self-development books in general, but this one — I’ve read it many times — is extremely relevant despite the time that has passed since it was written.

One piece of advice I cherish and believe in wholeheartedly is to be a team leader, not a manager. I engage with my team in everything they do, across all departments. I push them and try to help them grow.

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