APPOINTMENT OF NEW CO-CHAIRS
UAE-UK Business Council Announces Change of Co-Chairs
The UAE-UK Business Council has today announced that its founding Co-Chairs, HE Ahmed Al Sayegh and Rt Hon Lord Udny-Lister, are stepping down from their roles and will be replaced by HE Saeed Al Hajeri, UAE Minister of State, and Lord Mervyn Davies, Baron Davies of Abersoch.
Over the past years, the UAE-UK Business Council has established itself as a high-impact thought leadership organisation, with the aim of bringing business leaders together from both countries to discuss emerging trends and barriers to doing business and opportunities for collaboration and knowledge exchange. The Business Council now has a team in both countries and produces campaigns, events, and white papers on a range of issues. Highlights over the last six years have included the signing of the UAE-UK Sovereign Investment Partnership in 2021; the series of events the Business Council curated during COP28; the Business Council’s ongoing life sciences campaign, which has so far covered opportunities for collaboration in cancer care and AI in healthcare and wellbeing; and its work on energy transition, focused up to now on waste to energy and carbon capture and storage.
The appointment of the new Co-Chairs comes at an important moment for bilateral trade and investment relations: the UK-GCC Free Trade Agreement negotiations have recently been concluded and, when the Agreement enters into force, it is expected to add as much as £3.7bn per year to the UK economy, while UK exports to the GCC could increase by £14.3b (22.6%) in the long term. Moreover, the Agreement will remove tariffs on almost all UK goods exports to the UAE, while also accelerating investment flows in both directions, particularly in infrastructure, technology and clean energy.
Our Co-Chairs will work in partnership with the business community in both countries to deliver a transformational growth in trade, investment, and commercial collaboration over the next five years.
HE Ahmed Al Sayegh, commented:
“I am grateful for having had the opportunity to work in partnership with Lord Udny-Lister in establishing and developing the UAE-UK Business Council. We share a strong belief in the importance of the Business Council’s role in encouraging closer trade and investment ties between our two countries. The appointment of HE Saeed Al Hajeri and Lord Davies comes at an important time in bilateral trade relations – there is now an unprecedented opportunity for strengthening our commercial partnerships even further, and I wish them both every success”.
Rt Hon Lord Udny-Lister commented:
“It has been a privilege to be the founding UK Co-Chair of the UAE-UK Business Council and to witness its growth as an influential and well-regarded thought leadership organisation. Working in partnership with my UAE Co-Chair, HE Ahmed Al Sayegh, we have helped to foster dialogue and partnership, particularly in new and emerging sectors, and have campaigned vigorously to address market access barriers and build stronger trade and investment flows between our two countries. I wish HE Saeed Al Hajeri and Lord Davies every success in steering the UAE-UK Business Council through the next five years”.
Lord Davies commented:
“UK-UAE trade is now worth more than £25bn a year, and there is considerable scope to grow it further in the years ahead by strengthening collaboration and the exchange of ideas between innovators, entrepreneurs and business leaders from both countries. HE Ahmed Al Sayegh and Lord Udny-Lister have done a great job of establishing and developing the UAE-UK Business Council to be the forum through which these ideas can be converted into real commercial opportunities. I am truly thankful for their contribution over the last six years, and I look forward to working with my UAE counterpart, HE Saeed Al Hajeri, in further developing the work of the Business Council over the years ahead”.
HE Saeed Al Hajeri, commented:
“HE Ahmed Al Sayegh and Rt Hon Lord Udny-Lister laid strong foundations when they set up the UAE-UK Business Council six years ago. It has thrived as an influential and high-profile organisation, convening experts from both countries in sectors as diverse as AI, clean energy, healthcare and financial services. I look forward very much to working with Lord Davies to build on this success and developing new, innovative and future-facing commercial partnerships between our two nations”
Lord Mervyn Davies of Abersoch CBE
Chairman, Former Banker, Government Minister and Chief Executive
Mervyn Davies, Lord Davies of Abersoch, CBE is a British former banker and was previously a Labour government minister. Prior to Government, he was a Director, Chief Executive and Chairman of Standard Chartered PLC for 12 years.
Lord Davies is currently Chairman of LetterOne and Chair of the Advisory Board for Consello, alongside his role as Chairman of Glyndebourne Opera House and Chairman of Artfarm (Hauser & Wirth). Lord Davies is also the former Chairman of the LTA (Lawn Tennis Association), finishing a successful tenure after the 2025 Wimbledon Championships.
Lord Davies is passionate about the arts, sports and business, and chairs a variety of private high growth companies.
Recently announced, Lord Davies is now co-owner of Salford City Football Club (SCFC), together with David Beckham, Gary Neville and Declan Kelly, of Consello. Lord Davies serves as the new Co-Chairof the Club’s Board.
Lord Davies was awarded a CBE for his services to the financial sector and the community in Hong Kong in June 2002 where he served as a member of the HK Exchange fund for seven years. Lord Davies is a JP in Hong Kong, and he is an Honorary Distinguished Professor at Cardiff Business School.
Lord Davies is married with two children and is a fluent Welsh speaker.
