Winners will represent Lebanon in EMEA regional finals in London

Beirut - 16th February 2012: Last night American University of Beirut became the 2012 CFA Institute Research Challenge champions in Lebanon, beating three other Universities in a close final hosted by the Lebanese CFA Society, the national chapter for CFA Institute, the global association for the investment profession, at the campus of Universite Saint Joseph.   The winning team will now represent Lebanon at the EMEA regional final which will be held in London in March.  The winners of this stage will then proceed to the CFA Institute international final to be held in New York - USA, in April. The event was sponsored by BLOM INVEST Bank.

In addition to American University of Beirut, three other universities from across Lebanon took part in the competition, including Universite Saint Joseph, Lebanese American University and American University of Science and Technology.  Each University was represented by a team of students who undertook a two month review of a public company.  This year the teams reviewed Solidere SAL, the Lebanese Company for the Development and Reconstruction of Beirut City. Each team was mentored by a professional research analyst and at the end of the process they wrote a research report which they then presented last night to a team of judges.  This year's panel included Mr. Robert Slaiby, Dr. Fadi Osseiran, Dr. Mahdi Matar, Dr. Salim Osman and Mr. Diab Chidiac.

The champions were selected based on their investment case, the delivery of the final presentation and their ability to answer and respond to detailed analysis from the judges. As part of the prize, each student will be enrolled onto the CFA Program and registered for their first exam, as well as a trip to London.

In congratulating the American University of Beirut, Dr. Assem Safieddine, CFA, President of the Lebanese CFA Society, presented the Championship Trophy to the winning team, saying: 'This competition provides an exceptional opportunity for students in Lebanon to learn about the financial industry from the very best professionals who are actively working within the sector. All of the judges were very impressed with the quality of work presented by each team and the dedicated commitment of each student.  They should be proud of their achievements in representing their University in a national competition. We want to thank all the students, their teachers and Universities for doing so well and for taking part.  American University of Beirut will now have the added distinction of representing Lebanon at the Europe, Middle East and Africa (EMEA) regional final in London.  We wish them well for this next stage.'

He added: "The increasing popularity of the CFA program in Lebanon is hence very positive and can only act as a catalyst to further develop the local financial and capital markets. This Challenge is a platform to showcase the financial talent available within the Middle East, to encourage young graduates to take up the unique and rewarding field of Investment Research as a career and to seriously consider the CFA program as the qualification of choice."

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About Lebanese CFA Society
The Lebanese CFA Society is an association of local investment professionals. Consisting of portfolio managers, investment advisors, educators and other financial professionals, which promotes ethical and professional standards within the investment industry, encourage professional development through the CFA Program and continuing education, facilitate the exchange of information and opinions among people within the local investment community and beyond, and work to further the public's understanding of the CFA designation and investment industry. More information may be found at www.membersocieties.org/lebanon/ 

About CFA Institute
CFA Institute is the global association for the investment profession. It administers the CFA and CIPM curriculum and exam programs worldwide; publishes research; conducts professional development programs; and sets voluntary, ethics-based professional and performance-reporting standards for the investment industry. CFA Institute has more than 100,000 members, who include the world's 93,300 CFA charterholders, as well as 135 affiliated professional societies in 58 countries and territories. More information may be found at www.cfainstitute.org.

Media Contacts
For and on behalf of CFA Institute in the Middle East
Marcus Pepperell/Vadia Rai @ FTI Consulting
T: +971 4 332 8832
Marcus.pepperell@fticonsulting.com / vadia.rai@fticonsulting.com  

Steve Wellard / Sarah-Jane Purvis (Europe, Middle East, Africa)
T: +44 (20) 7531-0755 / 0766
steve.wellard@cfainstitute.org / sarahjane.purvis@cfainstitute.org

© Press Release 2012