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Washington Post Intelligence, the intelligence and advisory platform of The Washington Post, has named Adeeb Ahamed, managing director of LuLu Financial Holdings, to its Council on AI & Technology. The council is a global leadership forum focused on advancing policy and industry innovation across artificial intelligence, emerging technologies and digital transformation. Ahamed is among the first Middle East-based business leaders to join the council, bringing the perspective of a region that is rapidly emerging as a global centre for AI-driven innovation, digital infrastructure and next-generation financial ecosystems. His appointment also reflects the growing importance of financial services and cross-border payment infrastructure in global AI conversations, particularly as emerging technologies increasingly shape the future of commerce, compliance, financial accessibility and real-time global connectivity. Under Ahamed’s leadership, LuLu Financial Holdings has grown into one of the region’s leading financial services groups, operating across the GCC, Indian subcontinent and Asia Pacific, with a strong focus on cross-border payments, fintech innovation and digital financial inclusion. Commenting on the appointment, Ahamed said: “The future of artificial intelligence will be shaped by regions that are able to combine innovation, infrastructure and global connectivity at scale. The GCC and the broader Middle East are increasingly emerging as one of those centres, driven by ambitious technology agendas, forward-looking leadership and rapidly evolving financial ecosystems. I look forward to contributing a perspective from a region that sits at the intersection of global commerce, finance and human mobility, where digital infrastructure and financial innovation are evolving at remarkable speed.” 

Washington Post Intelligence, the intelligence and advisory platform of The Washington Post, has named LuLu Financial Holdings managing director Adeeb Ahamed to its Council on AI & Technology.The council is a global leadership forum focused on advancing policy and industry innovation across artificial intelligence (AI), emerging technologies and digital transformation.Ahamed is among the first Middle East-based business leaders to join the council, bringing the perspective of a region that is rapidly emerging as a global centre for AI-driven innovation, digital infrastructure and next-generation financial ecosystems.His appointment also reflects the growing importance of financial services and cross-border payment infrastructure in global AI conversations, particularly as emerging technologies increasingly shape the future of commerce, compliance, financial accessibility and real-time global connectivity.Under Ahamed’s leadership, LuLu Financial Holdings has grown into one of the region’s leading financial services groups, operating across the Gulf Co-operation Council (GCC), the Indian subcontinent, and Asia Pacific, with a strong focus on cross-border payments, fintech innovation, and digital financial inclusion.“The future of artificial intelligence will be shaped by regions that are able to combine innovation, infrastructure and global connectivity at scale,” Ahamed said in a press statement.“The GCC and the broader Middle East are increasingly emerging as one of those centres, driven by ambitious technology agendas, forward-looking leadership and rapidly evolving financial ecosystems,” he said. “I look forward to contributing a perspective from a region that sits at the intersection of global commerce, finance and human mobility, where digital infrastructure and financial innovation are evolving at remarkable speed.” 

Former Federal Reserve Governor Adriana Kugler abruptly resigned after Chair Jerome Powell refused to grant her a waiver to address financial holdings that ran afoul of the central bank’s ethics rules, according to a Fed official.Kugler also faced a probe by the Fed’s internal watchdog related to her recent financial disclosures before stepping down in August, according to a document released Saturday.Fed ethics officials declined to certify Kugler’s latest disclosures, which were posted on the website of the Office of Government Ethics, and referred the matter to the board’s inspector general, the document showed. The OGE also declined to certify Kugler’s newly released disclosures.The disclosures revealed details related to financial activity that violated the Fed’s internal ethics rules.Kugler announced on August 1 that she would resign effective August 8, without citing a reason and after she missed the central bank’s July 29-30 policy meeting. At the time, the Fed said her absence from the meeting was due to a “personal matter.”Ahead of that meeting, Kugler sought permission to conduct financial transactions to address what the Fed official described as impermissible financial holdings. It wasn’t immediately clear which holdings were involved in that request.According to the official, Kugler asked for a waiver to rules requiring top Fed officials to obtain clearance before conducting certain financial transactions and prohibiting them from trading during so-called blackout periods which straddle their policy meetings. Powell denied the request.The newly released documents revealed previously undisclosed trading in individual stocks in 2024, which is prohibited for Fed officials and their immediate family members, including Materialise NV, Southwest Airlines, Cava Group, Apple and Caterpillar.Some of the prohibited trades also represented violations for having been executed during blackout periods straddling each policy meeting during which no transactions are allowed.That included the purchase of Cava shares on March 13, 2024, days ahead of a March 19-20 meeting and the sale of Southwest shares on April 29, 2024, on the eve of the Fed’s April 30-May 1 gathering. The disclosure also lists several fund transactions that fell within blackout periods.A footnote connected to the January 2, 2024 sale of Materialise NV shares read: “Consistent with her September 15, 2024, disclosure, certain trading activity was carried out by Dr Kugler’s spouse, without Dr Kugler’s knowledge and she affirms that her spouse did not intend to violate any rules or policies.”Kugler, who was appointed to the Fed in September 2023 by President Joe Biden, declined to comment.In the financial disclosure released Saturday, Fed ethics official Sean Croston said, “Consistent with our standard practices and policies, matters related to this disclosure were referred earlier this year by the Board’s Ethics Office to the independent Office of Inspector General for the Board of Governors of the Federal Reserve System.”The financial disclosure, which was submitted roughly a month after Kugler’s departure, covered calendar years 2024 and 2025 through her resignation. Top Fed officials are required to submit disclosures annually and after leaving the central bank, and to report periodic financial transactions.In periodic financial disclosures during 2024, Kugler acknowledged that she had run afoul of Fed investment and trading rules when her spouse completed four purchases of shares of Apple and Cava Group Inc.Those trades violated the central bank’s rules that limit how senior Fed officials, their spouses and minor children invest and trade.Kugler said her spouse made the purchases without her knowledge. The shares were later divested and Kugler was deemed in compliance with applicable laws and regulations by the Fed’s designated ethics official, according to the disclosures.Kugler’s resignation gave President Donald Trump an earlier-than-expected opportunity to fill a slot on the Fed’s board in the midst of his intense pressure campaign urging policymakers to drastically lower interest rates. The opening ultimately went to Trump ally Stephen Miran, who took an unpaid leave of absence from his post as a White House economic adviser and has called repeatedly for rapid rate cuts.Powell introduced tougher restrictions on investing and trading for policymakers and senior staff at the central bank in 2022. That followed revelations of unusual trading activity during 2020 by several senior officials.Boston Fed President Eric Rosengren and Dallas Fed chief Robert Kaplan each announced their early retirement after the revelations, with Rosengren citing ill health. The Fed’s internal watchdog ultimately cleared the pair of legal wrongdoing, but chastised them for undermining public confidence in the central bank.The new rules, which the Fed said at the time were aimed at supporting the public’s confidence in the impartiality and integrity of policymakers, boosted financial disclosure requirements, among other measures.