Abdelhafid Benamraoui is Professor of Finance at the University of Westminster, School of Finance and Accounting. He completed a PhD in finance from the University of Greenwich Business School in 2003. Abdelhafid held several managerial positions, including Subject Area Leader in accounting, finance, economics and law, Director of Teaching, Learning and Quality, and Director of Employability. He also served as a Course Leader for both undergraduates and postgraduate courses and involved in the design of executive education programmes. He taught various subjects in finance and banking for more than 25 years.
Abdelhafid’s long-term research interests are in the area of corporate finance, financial markets, corporate finance and banking. Abdelhafid’s research has been published in a number of high calibre-refereed academic journals. He has also published book and book chapters and served in the editorial team of key international journals. Abdelhafid’s research work is cited in a numerous refereed articles and international banks’ reports and has been used to inform a number of policies in the field of finance and banking.
In an exclusive conversation with Higher Education Digest, Abdelhafid talks about his 25-year journey in academia, reflecting on the pivotal decisions that shaped his approach to finance education and leadership. He shares insights on the growing complexities in corporate governance and financial markets, especially in emerging economies, and highlights the need for stronger regulations and strategic adaptability. He also discusses how universities are redesigning curricula to align with industry expectations, with a sharper focus on AI, data analytics, and employability.
Your academic journey spans teaching, research, and industry engagement. What pivotal moments or decisions have most shaped your career in finance education?
I have been an academic for over 25 years. I started as a part-time lecturer in accounting and finance at the University of Greenwich in 2000, then in 2003 I moved to the European Business School as a Lecturer and became a Subject Area Leader for accounting, finance, economics, and law in 2005. Then, in 2006, I went to the University of Westminster as a Senior Lecturer in finance and accounting. After eight years, I was promoted to a Principal Lecturer in finance in 2014, and then I was promoted to a full Professor in finance in 2023. During my academic career, I held several leadership roles, including Director of Teaching, Learning & Quality and Director of Employability. My research is in the area of finance with a specific focus on corporate finance, financial markets, corporate governance and banking. I have more than 35 research articles published in highly classified peer reviewed academic journals, a book and book chapter. This is in addition to more than 40 conference papers and received a number of research awards for the research papers presented. In terms of industry engagement, I have organized several employability-based debates and discussions involving key financial institutions such as Barclays, HSBC and Lloyds. My research also involves real data from SMEs, non-profit organizations and banks contributing to the key policy areas for those institutions and business entities.
The key moments and decisions which shaped my academic career in finance education are taking the PhD programme in 1999 which has transformed me as a person as I become more critical and thinking deeper into the issues faced in my teaching and research or life in general. Taking the role of Program Director, Subject Area Leader, and Director of Teaching, Learning and Quality has also transformed me as an academic as they allowed me to think holistically about what we teach, looking for better methods and tools to enhance curriculum and assessments, and to devise strategies to develop the quality of the study programmes and to make them more enriched. Similarly, taking the role of Director of Employability has been a critical decision or moment, as it allowed me to see teaching and learning from a different angle, with more focus on students’ skills and capabilities. Integrating technology into my teaching and research has also been critical in shaping my academic journey and pedagogical approach, with more emphasis on skill development and students’ learning growth.
You have worked extensively in areas like corporate governance and financial markets. What are the most pressing challenges these fields face today, particularly in emerging economies?
The main pressing areas for corporate governance and financial markets in emerging economies are the increase in uncertainties, due to the new geopolitical environment and the challenges brought by Artificial Intelligence (AI), and how to effectively manage corporate resources and finances, and still creating more value for the firm or institution. There is also a need for more robust regulations to protect the interests of the investors and to create more confidence in the financial markets. At the corporate level, having diverse boards in terms of gender or educational background is likely to result in better financial performance. Finally, with the rise in AI and other technologies, corporate leaders in emerging economies need to invest in cybersecurity so that corporates and financial markets are better protected.
Higher education is evolving rapidly. How do you see universities like the University of Westminster adapting to meet the changing expectations of students and employers?
With a rise in students and employers’ expectations, universities, such as the University of Westminster, are revisiting their study programmes to make them more innovative and aligned with those expectations. This includes incorporating more skills into those programmes, such as those related to the use of AI, programming, data analytics, and more knowledge about FinTech and sustainability. Advanced features of Blackboard are also used to enhance the delivery of study. Similarly, more innovative assessments are being introduced with more focus on authentic types of assessments, such as simulations, case-based problem solving and pitch presentations. A number of employability-based events are also organized, with employers being invited to participate in those events. Additionally, dedicated finance and banking workshops are run using Bloomberg terminals and Amplify-Me, as well as creating more opportunities for students to gain work experience through placements and micro-internships.
With AI and data-driven technologies transforming finance, how are these innovations influencing your teaching methods and research priorities?
AI and data-based technologies are becoming very critical in both teaching and research, although still evolving and with caveats. The way AI influencing teaching and research is its ability to collate and analyze large data in very short space of time. However, in terms of decision-making, AI is still subject to errors as it relies on algorithms and some form of programming. Therefore, in teaching methods, students are encouraged to use relevant data analytics and AI applications, but need to demonstrate knowledge development and how data or AI is used and the actual input by the student. Likewise, in research, AI is to a large extent effective at collating the relevant literature review, but still, as a researcher, you need to drive the research itself, including devising the theoretical framework, setting the research hypotheses, creating the models, and articulating the research results. Hence, we need to use AI and data-driven technologies as supporting tools but not as a replacement for human intellect, both for teaching and research.
As a professor, you have mentored many students and young academics. What qualities do you believe are essential for success in today’s finance and business landscape?
The key qualities for success in the current finance and business environment are: to develop the necessary soft and hard skills with latter becoming very critical as AI is reshaping the employers skills expectations; to have the knowledge of coding and programming in addition to the core knowledge of finance and business; to gain work experience through placements, ideally in large corporates, or at least in small businesses or charity organizations; to be technology minded person with awareness of recent tech developments; to be agile and resilient as the job market is becoming competitive; and to keep growing through continuous learning and upskilling.
Leadership in academia often requires balancing research, teaching, and institutional responsibilities. How do you approach this balance, and what has it taught you about effective leadership?
Yes indeed, to balance the institutional, teaching and research duties requires effective time management, setting clear goals, reviewing progress and adjusting to a changing working environment, and being strategic in decision making. Besides, it does necessitate working collaboratively and showing a high level of collegiality. In terms of what it taught me about being effective in leadership is to set specific and measurable targets, to communicate shared goals and to set clear plan, to be an example and role model, to manage the team based on capability and supporting colleagues’ growth, to identify the gaps and aim to fill those through training and upskilling, and to celebrate successes and achievements to boost staff morale and productivity.
Beyond your academic work, what personal interests or values continue to inspire your perspective on education and professional growth?
I do play football and enjoy going for a walk after finishing my daily work. This helps me to energize and to reflect. Football is a team game that allows a person to bring a collaborative educational experience into something that is fun, while walking for about 20 minutes after work enables me to clear my mind and rethink how the day went in terms of the goals set. In terms of other values to inspire educational and professional growth is to always aim high, to be up to date and curious with recent technologies and developments, to keep learning in life and to enjoy the challenges faced.