Why the latest SALT conference is a geopolitical win for the Middle East
‘So this is SALT, and what have you done?’ as John Lennon never said. Well, quite a lot actually. The global business conference, which has become a regular annual feature in Las Vegas, moved its latest edition to another desert oasis, rocking up last week at Abu Dhabi’s Emirates Palace where they’ve partnered with the regional finance centre Abu Dhabi Global Market.
Although not permanent, it’s an ambitious move. Vegas suits the swagger of the conference, so to bring this edition to the Middle East, the first time SALT has left the US for six years, is testing its comfort zone. I know I wasn’t the only attendee intrigued to see how SALT would blend the broad church of American business with the potential of the Middle Eastern markets.
I was fortunate enough to attend once again as a guest of Anthony Scaramucci, the founder of multibillion-dollar fund SkyBridge and media sage. Anthony, founded the fund back in 2005 and has built it into an award winning investment house for alternatives. Over the last ten years he’s complemented it with the SALT (SkyBridge Alternatives) conference, bringing together a who’s who of global investors, bankers, entrepreneurs and statesmen for four days of discussion, debate and invaluable networking.
Outside SALT though, he’s perhaps still best known as the fastest-fired member of the current president’s White House staff. ‘The Mooch’ lasted just 11 days as White House director of communications before trigger-happy Trump gave him the shove.
To his eternal credit, it’s a tough break he’s played exceptionally well. He’s worn it on his sleeve and it’s a unique badge that brings a lot to his role as ambassador and master of ceremonies for SALT.
Subjects being discussed on the stage included the future of the global economy, tactical investments, US-ME relations and unicorn hunting, as well as seminars on sustainability and education. They’re full-on issues that could seem to hold more gesture than gravity until you consider the speakers: a prestige collection of guests, including Bob Diamond, former chief executive officer of Barclays and CNBC anchor Hadley Gamble. Also in attendance was General John F Kelly, former White House Chief of Staff and the man responsible for giving Scaramucci his marching orders. I’d wager the humility and grace shown by the two men as they shared the stage and a joke together, would go along way in the current White House…
That’s indicative of the friendly and constructive atmosphere in warm, but not oppressive, desert sunshine. That said, the opportunity to network and discuss the key issues of the day has been paramount. One person I met who wasn’t missing the circus of the UK’s general election was Philip Hammond. It was almost surreal to be chatting about the future of Britain and Europe with a man who just a few months ago was running her economy.
More than last time, I’ve been surprised by the amount of people I know whom I didn’t think would be out here. I estimate a third of the attendees are American. There’s also plenty of Brits and Australians as well as a strong regional representation making the case for Middle East investment in the 21st century.
Scaramucci has previously said he designed SALT to be a safe place to debate political opinions constructively in a business setting, and without the tribal vitriol that has saturated much political discourse over the last four years, particularly in the US and UK. “I want to put the ‘fun’ back in political ‘dysfunction’,” he told one reporter last time.
He’s certainly done that. To me, it’s this that has really validated SALT on the global conference calendar. Too often in business, CEOs seek to impose their views at conferences when they should be testing them, but here, in the ‘Davos of the desert’, there’s constructive but considerate debate. Given that and the calibre of the attendees, it’s something you can genuinely identify as a geopolitical milestone in the region and I would not be surprised to see SALT Abu Dhabi becoming a permanent fixture.
Everyone I’ve met here is keen to tell me their side of things, but also keen to find out my thoughts and those of others. The people at SALT know real leadership is knowing when to sit down and listen, as well as when to stand up and speak. Considering the strain a general election takes on your patience, that is genuinely refreshing.
Paul Blanchard is founder of global reputation management practice Right Angles, host of the Media Masters podcast and author of Fast PR