Ziad Hayek
Ziad-Alexandre Hayek | |
|---|---|
| Born | January 27, 1959 Beit Chabeb, Mount Lebanon |
| Occupation(s) | Businessman, public official |
| Known for | Secretary General of Lebanon's High Council for Privatization and Public-Private Partnerships (2006–2019); President of the World Association of Public-Private Partnerships (WAPPP) |
| Notable work | Led Lebanon's PPP legislation and reform; candidate for World Bank presidency in 2019 |
| Spouse | Soheila Youssefzadeh Hayek |
Ziad-Alexandre Hayek (Arabic: زياد حايك; born 27 January 1959) held the position of Secretary General at Lebanon's High Council for Privatization and Public-Private Partnerships (PPP) from 2006 until his 2019 candidacy for the presidency of the World Bank. In recognition of his service, he was named Officer of the National Order of the Cedar in 2014, which represents Lebanon’s highest national distinction. He is married to Soheila Hayek, who serves as the global president of the YMCA.
Early life
Originating from Beit Chabeb in Mount Lebanon, Hayek completed his secondary education at Collège des Frères Maristes Champville, earning a Baccalauréat in Experimental Sciences. Amid the Lebanese Civil War in 1976, his family relocated first to Cyprus and subsequently to Monterrey, Mexico, where he pursued studies at the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM). Later, they settled in Houston, Texas, where Hayek attended the University of Houston and obtained a master’s degree specializing in International Management from the University of Texas at Dallas.
Bahrain, Gabon, and New York
Hayek’s professional journey commenced at Citibank in 1981 as a foreign exchange trader based in Bahrain. He then took on the role of Acting Regional Treasurer for West Africa while stationed in Gabon. Returning to New York in 1988, he worked within the International Corporate Finance Division, managing sophisticated structured finance transactions such as debt-for-equity swaps and restructuring initiatives involving various Latin American nations. Subsequently, he advanced to lead the International Securitization Department, where he pioneered securitization efforts involving future receivables from credit card portfolios, telecommunications revenues, airline ticket sales, and mineral and oil exports.
In 1992, Hayek transitioned to Salomon Brothers Inc., where he spearheaded financing operations across Latin America. Collaborating with Thomas Enders, he engaged with anti-Apartheid advocates and significantly contributed to South Africa’s reintegration into global capital markets by launching pioneering South African equity funds.
Paris and Mexico City
In 1994, Hayek rejoined his former Citibank colleagues by becoming Managing Director and Partner at Indosuez Capital Latin America—a joint venture with Banque Indosuez based in Paris. As President of Indosuez Mexico, S.A. de C.V., he directed corporate finance and trading activities throughout northern Latin America. During the Mexican peso crisis, he provided advisory services to the government and facilitated Mexican corporations’ reentry into commercial paper markets.
New York and London
By 1997, Hayek assumed the role of Senior Managing Director at Bear Stearns, overseeing investment banking related to emerging markets’ telecommunications sectors. Partnering with Grupo Carso led by Mexican entrepreneur Carlos Slim Helu, he managed the initial public offering (IPO) of Prodigy Communications Corporation on the New York Stock Exchange. After relocating to London to develop Bear Stearns’ European operations, he co-founded Lonbridge Associates in 2003 before joining Lebanon’s government in 2006.
Lebanon
On June 1, 2006, Lebanon’s Council of Ministers appointed Hayek as Secretary General of the High Council for Privatization—a role akin to a quasi-ministerial position reporting directly to the Prime Minister. The Council itself is chaired by the Prime Minister and comprises ministers from Finance, Economy, Labor, and Justice portfolios.
Shortly after his appointment, conflict erupted with Israel. Hayek became part of a small leadership group overseeing wartime governance and participated in ceasefire negotiations. Following cessation of hostilities in mid-August, Prime Minister Siniora entrusted him with organizing a donors’ conference in Stockholm, which successfully secured US$940 million for Lebanon’s reconstruction within one month.
In the post-war period, Hayek intensified efforts toward privatizing Lebanon’s telecommunications sector alongside the newly formed Telecom Regulatory Authority. Although preparations were complete for a privatization auction by February 2008, political instability delayed Council approval. Concurrently, he advanced Public-Private Partnership (PPP) projects within the power sector; bids were received for smart metering initiatives and preparations for a tender concerning a 500MW Independent Power Producer (IPP) plant were underway. However, conflict in 2008 disrupted these developments, and subsequent administrations curtailed private sector roles in power generation.
Notable achievements during this era include Hayek’s 2008 power sector reform proposal serving as a foundation for the government’s 2010 reform strategy and the Council’s approval of his PPP draft legislation in June 2007. Serving as Vice-Chair of the United Nations Economic Commission for Europe Center of Excellence in PPP for Maritime Ports, Hayek devoted over a decade advocating for passage of PPP legislation enacted in 2017. Initially met with political skepticism or resistance, PPP frameworks eventually gained broad acceptance and integration into major political platforms.
Following enactment of this law, Hayek contributed to formulating Lebanon’s Capital Investment Plan and played a key role organizing the 2018 Conférence économique pour le développement par les réformes et avec les entreprises (CEDRE) held in Paris. At this event, international donors committed US$11.8 billion in concessional funding for infrastructure projects. Since then, the High Council for Privatization (HCP) has overseen initiatives including expansion of Beirut Rafic Hariri International Airport, construction of the Khladeh-Dbayeh-Oqaibeh toll road, establishment of a national data center, and development of Lebanon Cloud services.
Hayek also partnered with civil society organizations to establish Transparency and Fairness Civil Society Project Audit Committees that supervise HCP tender processes. Chaired by the Lebanese Transparency Association under Transparency International’s umbrella, participating NGOs include ALDIC, LCPS, LIOG, and Nahnoo.
In 2019, Lebanon put forward Hayek as its candidate for President of the World Bank but later withdrew his nomination amid indications of external diplomatic pressure.
Currently, Hayek serves as Head of the International Center of Excellence in PPP for Ports; sits on the Board of Trustees at the Holy Spirit University of Kaslik; participates on World YMCA’s Investment Committee; and holds the position of High Commissioner for Lebanon at the World Business Angels Investment Forum.
WAPPP
He holds the position of President at the World Association of Public-Private Partnerships (WAPPP), recognized as the largest global organization dedicated to PPPs, with its headquarters located in Geneva, Switzerland.
HyperCycle
In his role as Head of Global Alliances at HyperCycle.ai, he has assisted nations such as Paraguay in harnessing artificial intelligence to drive economic growth and social progress through international partnerships.
Presidential Candidacy
In 2022, Hayek declared his intention to run for Lebanon’s presidency, presenting an economic revival strategy that includes transforming bank deposits into negotiable certificates, utilizing gold reserves, and improving tax revenue systems. He supports reinforcing connections with Gulf Cooperation Council member states, emphasizing collaboration with programs like Saudi Arabia’s Vision 2030 to boost Lebanon’s economy. Amid ongoing tensions between Hezbollah and Israel, Hayek stresses the importance of preventing an all-out war and focusing on sustainable peace and stability.
Personal life
Hayek is a father to two children, Gisèle and Daniel, with his spouse Soheila Youssefzadeh Hayek.
Holding citizenship in the United States, the United Kingdom, and Lebanon, he is proficient in 11 languages. He speaks Arabic, English, French, Spanish, and Portuguese fluently, while also having working knowledge of Italian, Persian, German, Russian, Hebrew, and Aramaic. His residences have included Lebanon, Mexico, Bahrain, Gabon, the United States, the United Kingdom, and Cyprus.