Arthur D. Little Appoints Goetz Kuras as Partner in Financial Services Practice - Middle East Business News and Information
Goetz joins from being a senior advisor to HE the Governor of the General Organization of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy.
Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy and innovation for industry and government clients across the insurance, pensions and social ecosystem.
Martin Rauchenwald, Managing Partner at ADL, comments, 'Driven by digitalization, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.'
Goetz Kuras, Partner at ADL, adds, 'The boundaries between insurance and other sectors are disolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.'
Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria).
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Arthur D. Little Appoints Goetz Kuras as Partner in Financial Services Practice - Middle East Business News and Information
Arthur D. Little (ADL) announces the appointment of Dr. Goetz Kuras as a Partner in its Financial Services (FS) practice. Focused on the insurance , pensions, and social security sectors, Goetz brings over twenty years of, senior executive, regulatory, and consultancy experience to the firm. He will be based in ADL's Riyadh office, and will support clients in the Middle East and at a global level. Goetz joins from being a senior advisor to HE the Governor of the General Organization of Social Insurance (GOSI) in KSA, focussing on GOSI's ongoing strategic and operational transformation and supporting the Board and CEO of the newly established Insurance Authority in defining the new National Insurance Strategy. Previous roles include executive experience as CEO of insurer Medgulf and a director role on the Board of an InsurTech company. On the consultancy side, he has worked at McKinsey and at Oliver Wyman, where he was Head of Insurance CEE and later MENA. He is focused on delivering transformation, strategy and innovation for industry and government clients across the insurance, pensions and social ecosystem. Martin Rauchenwald, Managing Partner at ADL, comments, 'Driven by digitalization, AI and innovation, the Middle Eastern insurance sector is evolving rapidly to become a more fluid, open ecosystem. In parallel, institutional reforms of the pensions and social secuity system are actively discussed amongs policy makers. Through his deep experience and understanding, Goetz is perfectly positioned to help clients harness transformation and seize opportunities in this changing environment.' Goetz Kuras, Partner at ADL, adds, 'The boundaries between insurance and other sectors are disolving. What has been a value chain is becoming a value stack with new business models emerging that combine value chain components across industries, requiring new approaches from market players, new entrants and regulators alike. Working with ADL's expanding financial services practice and my colleagues in other industries, where insurance is complementary and enhancing existing value propositions, I look forward to helping grow our client base and impact in these crucial sectors that are vital for prospering societies and economies.' Goetz holds a PhD in theoretical physics from the University of Cambridge (UK) , and Master's degrees from Florida State University (US) and the University of Graz (Austria).
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The Middle East has become more and more intertwined with the global investing stage, especially with the deep pockets of sovereign wealth funds and family offices. Many companies in the region received funding from Sequoia's India branch, which had its own fund, though that was spun off last year. For example, Sequoia India made a $33 million investment in Saudi fintech Lean Technologies in 2022, and Egyptian consumer money app Telda also received seed funding from the firm. By contacting Sequoia's limited partners, the letter's supporters may try to hit the venture firm where it hurts: its purse strings. In an update to the letter, the signatories said if Sequoia did not publicly condemn Maguire's remarks and launch an internal investigation into Maguire's conduct over the past two years, their next steps would be to contact Sequoia's limited partners – passive investors who provide capital to a fund but aren't involved in managing or decision-making. One Middle Eastern founder confirmed they are reaching out to wealthy family offices and sovereign wealth funds, though Sequoia has not shared exactly what percentage of its reserves come from these funds. 'As founders building the future of technology, we cannot accept leadership from a firm whose partners engage in hate speech and spread bigotry,' the original letter said. In theory, startup founders could also refuse to accept any money from Sequoia. But that may prove far-fetched, particularly for startups that typically need a wide variety of funding sources. So far there's been no public action from any partners, and it appears unlikely that any of the letter's signees will make a significant dent in Sequoia's bottom line. 'There are many idiots saying a lot of stupid things online. We don't care. We don't want to tell anybody what to say or not to say,' said one founder who signed the letter who didn't want to be named because of concerns about repercussions to their business and who doesn't receive money from Sequoia and instead receives funding from other international firms. 'We don't have a political horse in this, and we are not part of New York.' By saying nothing and not publicly responding to measures recommended in their letter, the founder said, it seems that Sequoia is essentially signing off on that rhetoric. 'Anything short of these measures signals tacit acceptance of anti-Muslim hate and racism,' the letter said. 'As the leading venture firm that shapes the future of technology and entrepreneurship globally, Sequoia's response will define whether you stand on the side of inclusion or on the side of complicity.' Islamophobia in the tech world Some of those Muslim and Middle East signees are criticizing Maguire's comments, and pointing out patterns in other major players in the finance and tech world who they say are Islamophobic and dehumanizing Palestinians, as Israel's war in Gaza has inflamed rhetoric toward Muslims and Arabs. 'He's clearly targeting certain Muslim figures, spending 30 minutes attempting to explain what his definition of Islam is,' one letter signee said, referencing Maguire's follow-up video. 'Come on, that should not be the stance of the premiere venture capital firm of the world.' There are 'people out there that genuinely have hatred towards our people in our community… what they say should not be just simply accepted as a matter of fact and part of our political discourse,' Abed Ayoub, national executive director of the American-Arab Anti-Discrimination Committee, told CNN. One founder, who signed the letter and wants to remain unnamed because of Maguire's threats toward his perceived 'enemies' on X, recalled how Sequoia had a reputation for investing in companies founded by immigrants, like Google's Sergey Brin, who was born in Moscow, and companies by other Indian immigrants. 'That's what we all as founders were looking up to – the American way of investing – which is kind of colorblind. And I think therefore this episode is even more shocking,' they said. Maguire has called video that appeared to show a dead child in Gaza a 'doll' on X, called the United Nations a 'terrorist organization' and reposted content from Laura Loomer, a right-wing activist who once described herself as a 'proud Islamophobe.' The Council on American-Islamic Relations, the nation's largest Muslim advocacy group, said in a letter that Maguire's posting history on X, including ones before July 4, 'reflects a dangerous pattern of anti-Muslim hate speech.' Smoke billoweseast of Gaza City following Israeli strikes on July 13. Bashar Taleb/AFP/Getty Images The controversy comes in the shadow of Israel's war in Gaza, which people who signed the letter told CNN is the catalyst for a lot of Islamophobic rhetoric. Islamophobia has risen to 'alarming levels' across the world, including against Muslims, warned United Nations experts in March 2024. The Council on American-Islamic Relations said in its 2025 civil rights report that Islamophobia remains at record levels in the US. The group received 8,658 complaints in 2024 — the highest number ever recorded since its first civil rights report in 1996. The open letter to Sequoia also has signatures from non-Muslim Arabs and founders based in the United States. On July 9, Maguire posted to his 'enemies' that he is aware of their 'command structure' and that he is 'going to play nice for now, but am ready to embarrass any of you should you escalate.' Attacks on Mamdani Mamdani has come under fire from opponents for his stance on the Israel-Gaza war. Mamdani, for example, refused to condemn the phrase 'globalize the intifada,' during his primary campaign, saying although he would not use the phrase himself, he believes it's a rallying cry for Palestinian human rights. However, he recently told a group of New York City business leaders he would discourage use of the phrase, CNN reported Wednesday. New York City mayoral candidate Zohran Mamdani speaks in New York on July 10. Jeenah Moon/Reuters/File On the campaign trail, Mamdani has expressed the impact of Islamophobic attacks and has said frequently there is no room for anti-Semitism in New York. 'I get messages that say the only good Muslim is a dead Muslim,' Mamdani said in June, adding that he is characterized by rivals 'as being a monster' with 'language that describes almost a barbarian looking to dismantle a civilization.' Still, Maguire has received some public support. On July 10, less than a week after Maguire's initial post, another Sequoia partner posted a lengthy statement in support of Maguire. 'Shaun is one of the few people with the courage and mental acuity to wade into these incredibly complex waters and attempt to provide clarity, fully knowing that the slightest misstatement will cause the extremists to pounce,' Pat Grady said. However, he also reiterated that he does 'not agree with everything my partners say' and that he supports the Muslim community. At the same time, another letter signed by prominent tech leaders defends Maguire against the backlash, this one with more than 1,400 signees. 'Whether one agrees with his views or not, his words were not hate speech – they were the reflections of a principled thinker and a partner to countless founders who span geographies, faiths, and political beliefs,' the letter said, adding the undersigned 'stand against ideological bullying.'
