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DUBAI / WAM
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has announced Dr Mohamed El-Erian, President of Queens’ College at Cambridge University, as the winner of the first Great Arab Minds (GAM) award in the economics category, in recognition of his incredible contributions to the field of economics and his perceptive analysis of changes in economic and financial systems.
Announcing this in a tweet on his official X (formerly Twitter) account, Sheikh Mohammed stated that economics has always been the foundation for stability and growth and the catalyst for innovative and developmental efforts that benefit both individuals and communities.
He noted that creativity in the field of economics is a driver of intellectual progress, prosperity and international cooperation, with ambitious economic visions serving as the main pillar in driving development, building the future of nations and boosting fruitful cultural and civilisational exchange. An economist with an undergraduate degree from Queens’ and a DPhil from Oxford, Mohamed El-Erian previously served as chief executive officer and co-chief investment officer of Pimco, Deputy Director at the International Monetary Fund, Chair of President Obama’s Global Development Council and President of Harvard Management Company.
Throughout his career, Dr El-Erian has been involved with universities and think tanks around the world, including his roles at the University of Pennsylvania as the Rene M Kern Professor of Practice at the Wharton School of and Senior Global Fellow at the Lauder Institute. After years of dedicated learning and professional experience, he emerged as an outstanding consultant providing services to prestigious financial institutions such as Allianz and Gramercy Funds Management. Additionally, he has been an active contributor to several non-profit organisations, including the National Bureau of Economic Research.
Dr Mohamed El-Erian’s impact on the field of economics extends beyond his corporate and institutional work. His written works and research have yielded a wealth of advice, insights, and economic concepts, establishing them as key references in economics, finance, and business.
Among his well-known books are ‘When Markets Collide’ (2008), ‘The Only Game in Town’ (2016), and his latest collaborative work, ‘Permacrisis: A Plan to Fix a Fractured World’ co-authored with esteemed economic experts.
Furthermore, Dr Mohamed El-Erian is recognised as a prominent contributor and editor for Financial Times and Bloomberg. Owing to his intellectual prowess, he has been named one of the ‘Top 100 Global Thinkers’ for four consecutive years by ‘Foreign Policy’ magazine.
In addition to presenting innovative theories on global economic matters, Dr El-Erian is widely acknowledged as a leading expert in the realm of global capital markets. He is notably credited with introducing the concept of the “new normal”, a term characterising the state of the global economy post the global financial crisis.