This Initiative creates a new framework for the development and promotion of world class, and global scale, renewable energy and resource sustainability industries in Abu Dhabi. Kanoo has been investing on a personal and company level since 1991. Its board of directors, which is made up of members nominated by the two companies, is responsible for directing the company's independent strategy and developing its business. The Board maintains awareness of the other commitments of its Directors and is satisfied that these do not conflict with their duties and time commitments as Directors of the Bank. H.E. Before joining Mubadala, Carlos Obeid worked with the UAE Offset Program Bureau, where he led a wide range of initiatives including privatisation, utilities and financial services. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. Board Of Directors; CEO's Message; Staff. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. Private Equity and Venture Capital, (Harvard Business School, USA) The $7 billion investment in Citigroup has lost approximately 90% of its value as of 26 November 2009, 2 years after it acquired a sizable stake in the bank. | Advanced search H.E. H.E Mohamed Hassan Alsuwaidi. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. Sheikh Mansour bin Zayed Al Nahyan,. Khalil Mohammed Sharif Foulathi Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Fraud Warning Terms & Conditions Sitemap Contact Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. Feedback. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Emirates Islamic Bank and Dubai Refreshments Company. . The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. During his tenure, Dr. Al Jaber oversaw the completion of Khalifa Port, Abu Dhabis flagship, fastest growing deep water port as well as Khalifa Industrial Zone Abu Dhabi (KIZAD), Abu Dhabis first integrated trade, industrial and logistics free zone. Thoma Bravo Fund XV, L.P. managed by Thoma Bravo, L.P. and Abu Dhabi 13 of 2009. Dr. Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology and Group CEO of the Abu Dhabi National Oil Company (ADNOC). The Bank provides Directors with opportunities to update and develop their skills and knowledge through external seminars, regular presentations from senior management, and relevant reading materials. The Abu Dhabi Investment Group (ADIG) is an investment arm of the Bin Aweidha Corporation Holding, Established in 1968, Based in Abu Dhabi, With Capital 1 Billion USD. Al Gergawi is the Secretary-General of the Mohammed bin Rashid Global Initiatives (MBRGI), a philanthropic foundation that combines under its umbrella over 30 humanitarian and developmental initiatives and entities. Who We Are - TAQA Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. In a short span of time, the EIA has uniquely positioned itself to become an invaluable partner for significant world-class investment opportunities locally, regionally and internationally. Tailored induction programmes are arranged for all newly appointed Directors. The EIA was established in 2007 through Federal Decree Law No. There is a clear division of responsibilities between the respective roles and responsibilities of the Chairman and the GCEO. Aysha Al Hallami does not hold any external directorships. Experienced Specialist with a demonstrated history of working in the investment management industry. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. Abu Dhabi Finance P.P.C is an entity authorized from Capital Market Authority. Decree establishes the EIA as sole Federal investment vehicle. 17 May, 2021. Abu Dhabi Investment Authority | International Forum of Sovereign Acting within authority delegated by the Board, the Board Risk Committee (BRC) has overall responsibility for oversight and review of all risk types - credit, market, operational, liquidity, fraud, reputational, etc. 2023 PitchBook. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. Some of the most recent investments Fatima has led include the following: acquisition of KMAC, the second largest Taco Bell franchisee in North America; Mubadalas $2.5billion partnership with Silverlake including both an investment in the Silverlake General Partner and an anchor commitment to a new Long-Term Capital Fund. [4], The operations of ADIA have historically and to the present been secretive and opaque. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. Furthermore, he is a professional and motivational speaker, writes articles for local and regional media, is published in business journals on a regular basis, and holds chief positions as Chairman/Director of various reputable companies, including Gulf Capital, KHK & Partners Limited, Dalma Capital, Johnson Arabia LLC and KAAF Investments. In 2008, ADIA co-chaired the International Working Group of 26 sovereign wealth funds that produced the "Generally Accepted Principles and Practices of sovereign wealth funds" (known as the Santiago Principles). Abu Dhabi Investment Authority (ADIA) - Investopedia Board of Directors | Abu Dhabi Investment Council Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi However, all loans are made on arms' length terms. Get the full list, Youre viewing 5 of 8 board members. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. She is an integral part of the team responsible for . We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. H.E. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. As an Institution in which the government of Abu Dhabis share is not less than 50%, the Bank is subject to audits by Abu Dhabi Accountability Authority. The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. Dr. Al Jaber was appointed to the UAE cabinet in 2013, where he served as a Minister of State of the United Arab Emirates until July 2020. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. The Central Bank the Central Bank provides prudential supervision of banking activities. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. An external auditor is appointed annually by shareholders on the recommendation of the Board of Directors. It will set financial and economic policy and will oversee the approval of strategies for a number of state-owned entities including Adnoc, Mubadala Investment Company, Abu Dhabi Investment Authority and holding company ADQ. Phone Number (971) 241-5000. Board of Directors | Abu Dhabi Investment Council Menu Mobile menu toggle About us History Organization Chart Governance Committees Business Functions Chief Executive Officer Active Investment Strategies Equities and Fixed Income Global Special Situations Infrastructure Private Equity Real Estate Support Functions Careers Culture Opportunities The fund manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories, including quoted equities, fixed income, real estate, private equity, alternatives, and infrastructure. Number of Board Member and Advisor Profiles 3. . H.E. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. ABU DHABI, Under the patronage of H.H. Assistant to the Deputy Director, Colo Dept. Home | Abu Dhabi Investment Group in International Studies from the John Hopkins University. Get the full list, Youre viewing 5 of 98 team members. Since being appointed Group CEO of ADNOC in 2016, Dr. Al Jaber has spearheaded a rapid and comprehensive transformation of the company at the direction of the UAE leadership. Sheikh Zayed does not hold any external directorships. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. He is a UAE national, coming from a prominent family of businessmen primarily engaged in trading sector businesses. Abu Dhabi Investment Authority's new research centre makes its debut Last edited on 23 February 2023, at 20:27, Bank of Credit and Commerce International, International Forum of Sovereign Wealth Funds, "Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets", "Gulf sovereign wealth funds among world's least transparent", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny", "Money and mystery: Adia unveils its secrets", "Generally Accepted Principles and Practices (GAPP)Santiago Principles", https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund, "The Abu Dhabi Investment Authority is a Buyer of Hotels Sovereign Wealth Fund Institute", "Abu Dhabi Power to take control of TAQA in asset swap", "Abu Dhabi Investment Authority Publishes 2012 ADIA Review", "Sheikh Ahmed Bin Zayed Al Nahyan: 1969-2010", "H.H. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. To read relevant policies please see below: The Bank's Board Secretariat and Corporate Secretariat function acts as an interface between the Board and management. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed Our Objectives. Mohamed Jouan Salem AlDhaheri - Specialist - Abu Dhabi Investment Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. Overview We are the Abu Dhabi Investment Office - ADIO. Any additional work proposed to be performed by the external auditor is reviewed by and approved by the Audit Committee on an item-by-item basis. BSc Business Sciences, Finance (Zayed University, UAE). Establishment of Investment Process and Portfolio Management. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. . Staff. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. Mr. Mishal Kanoo is one of the most iconic business figures in the Middle East and has a reputation as a futurist and strategist with a strong track record in forecasting economic developments in the region. The Board of Directors comprises a Chairman, Deputy Chairman, Managing Director and board members who are appointed by an Emiri Decree of the Ruler of the Emirate of Abu Dhabi. ABU DHABI, H.H. Khaldoon Khalifa Al Mubarak is the Managing Director & Group Chief Executive Officer of the Mubadala Investment Company PJSC, responsible for aligning Mubadala with Abu Dhabi's economic diversification efforts. In the year 2005, Abu Dhabi Investment Company purchased 51 percent of shares of Massar (Company) from Abu Dhabi Power Corporation, a subsidiary of Abu Dhabi Water & Electricity Authority. Board of Directors | Abu Dhabi Investment Group Leadership Board Of Directors Sheikh Dr.Majid bin Saeed Al Nuaimi Chairman As nephew and son in law of Ajman ruler he played a major role in the development of UAE from a desert to an oasis. [13] Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. Member of the Board of Directors of the Commercial International Bank, Deputy Director of the Excellent Financial Services company, Financial and strategic advisor Noor Bank, Member of the Board of Directors of the Commercial International Bank (CBI), Head of the Institutional Performance Measurement Department within the Strategic Planning Sector, Abu Dhabi Municipality. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. Member of the Libyan Reconciliation Commission. In his role as Minister of Industry and Advanced Technology, Dr. Al Jaber oversees efforts to further expand the industrial development of the UAE, and in particular promote in country value, leveraging technology as a key enabler, as we enter the Fourth Industrial Age. A seasoned banker with strong leadership skills across all facets of the business and with extensive expertise in strategy, finance, risk, investment, credit and corporate governance. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. Board Of Directors - Abu Dhabi Pension Fund The BRC also guides management on risk appetite across sectors, geographies and customer types. H.E. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. BSc Computer Information Systems (Bethune Cookman College, USA). Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. Minister of Federal Supreme Council Affairs, Executive Council Member Government of Ajman, Knowledge and Human Development Authority Government of Ajman, Board Member of the Commercial Bank International (CBI), Bin Aweidha Corporation Holding Managing Director, Market Makers Financial Advisory Managing Director, Founder and CEO of Liberal Lawyers and Legal Consultants, Member of the Board of Directors of World Investments P.S.C, Partner in Market Experts Financial Brokerage Company (LLC), Partner and Director of Gate Business Investment (LLC), Founder and Director of Al Madina Co.(Stock and Bond Broker) LLC, Member of the Board of Directors of Experience Gate Company for Management Consulting (LLC), Founder and Chairman of the Abu Dhabi Tahseel Company (LLC), Member of the Association of Emirates Safer Internet Society, Board Member of Agricultural Trading & Development Co. Ltd, Director General Airport Free Zone Authority, Board Member of UAE Football Association, Elected Member of Federal National Council (U.A.E Parliament), Member Of Arab Parliament (Cairo & Damascus), Board Member of UAE Insurance Authority, Vice Chairman of the Board of Directors of Al-Ghaith Holding Company (private shareholding), Member of the Board of Directors of Al Ain National Insurance Company, Member of the Board of Directors of the National Marine Dredging Company, Member of the National Consultative Council of Abu Dhabi, Member of the Abu Dhabi Tawteen Board of Directors, Honorary member of the Al Ain Sports and Cultural Club, Chairman of the Board of Directors of Prestige Jet Private Aviation Company, Chairman of Makasib Islamic Financial Services Board. The Board of Directors is responsible for Mubadala's strategic direction, oversight and corporate governance, ensuring the business delivers on the government of Abu Dhabi's development and diversification priorities. In this role, he oversees platform-wide activities, supports the delivery of the platforms investment strategy, manages the platforms capital allocation, ensures the successful implementation of capital deployment and monetization transactions and assesses value, risks and expected returns. His memberships allow him to actively support the development of priority sectors in the country such as the Golden Visa initiative, which seeks to attract talented individuals from across the world. . Prior to his appointment, H.E. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. These principles were created to demonstrate to home and recipient countries and the international financial markets that sovereign wealth funds had robust internal frameworks and governance practices and that their investments were made only on an economic and financial basis. All rights reserved. Board of Directors Members and Their Duties | AD Ports Group MSc National Security and Strategic Studies (National Defense College, UAE) Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. H.E. Sheikh Khalifa appoints new board of directors for Adnoc - The National Al Ramz Corporation, one of the most active brokerages and investment companies in the UAE, trading member and clearing member in Dubai Financial Market DFM, Abu Dhabi Exchange and Nasdaq Dubai for equities, bonds, SUKUK and futures, also a market maker and liquidity provider in the local three markets. They are appointed by Emiri decree. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. ADGM has also tapped on the inherent strengths of the Abu Dhabi economy to establish an international financial centre which will stand alongside the world's leading centres, such as Hong Kong, Singapore, London and New York, operating in partnership with them. H.E. Mohammed Habroush Al Suwaidi H.E. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. [1], ADIA's operations have been characterized as secretive and opaque. Carlos Obeid is the Group Chief Financial Officer of Mubadala Investment Company PJSC and is responsible for managing the organisations Business Finance including Treasury and Investor Relations, Financial Planning and Business Performance, and Financial Governance and Reporting. The IAG performs its function in accordance with a risk-based audit methodology. This enabled us to assume the dual roles of a trusted advisor to the Federal Government as well as a highly efficient and capable investment manager of the UAEs sovereign wealth. The Council started its operations in April 2007 and is responsible for investing part of the government's surplus financial resources through a globally diversified investment strategy, targeting positive capital returns through an expansive portfolio of highly diversified asset classes and active . [11], Today ADIA invests in all the international markets equities, fixed income and treasury, infrastructure, real estate, private equity and alternatives (hedge funds and commodity trading advisers CTAs). Using prudent investment strategies in accordance with global best practice, the EIA . His Excellency holds a PhD in Economics from Imperial College, London. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Combining extensive experience in both the public and private sector, he was responsible for overseeing, developing and enhancing strategic geopolitical, social and economic partnerships with several nations. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. In this role, he also spearheaded many initiatives to get the pulse of the people and know their sentiments, as well as build the UAEs long-lasting relations with international organizations such as the World Economic Forum. He has also been Chairman of Emirates Financial Services. How satisfied are you with the overall experience on our website? Although the IAG conducts audits on all of the Banks units, the frequency of internal audits carried out with respect to each of the Banks units depends on the inherent risk of that unit and its related control risk evaluation. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? H.E. He is the Founding Member and Chairman of AlNowais Investments. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. Degree in Economics & Finance (Tufts University, USA). Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. Reporting to H.H., the Managing Director, his current responsibilities as Advisor Managing Director Office include portfolio management, asset allocation, strategic decisions and broad financial analysis. In 2019, Dr. Al Jaber received a lifetime achievement award from his Excellency the prime minister of India, Narendra Modi, for his contributions to energy security, building bridges to emerging Asian economies and for reshaping traditional energy business models. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. Dr Sultan Al Jaber | Masdar Chairman and COP 28 President - Masdar.ae As nephew and son in law of Ajman ruler he played a major role in the development of UAE from a desert to an oasis. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. H.E. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. Dr. Al Jaber served as Chairman of the UAE National Media Council from 2015 to 2020, where he led an organizational and governance restructure, while guiding the media sectors development as a responsive and responsible contributor to news and knowledge sharing in the digital and social media age. The majority of the Directors are UAE nationals, as per the requirements of the Federal Commercial Companies Law and the Bank's articles of association. Contact Email dg_dgm@yahoo.in. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. . Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. HE Dr Sultan Ahmed Al Jaber is a member of the UAE Federal Cabinet, Minister of Industry and Advanced Technology, the UAE's special envoy on climate change, Chairman of Masdar, and President-Designate of COP28 - the first CEO to serve in this role. Win whats next. Previously, Mr. Al Darmaki held the position of Chairman at the Central Bank of the UAE, Abu Dhabi Investment Company, Abu Dhabi Securities Market, Global Investment House (Kuwait), and as a Board Member at National Bank of Abu Dhabi, Al Hilal Bank, Arab Banking Corporation and Qatar Telecom (Ooredoo). Board papers are delivered at least 3 business days before each Board meeting. Air Arabia Abu Dhabi - Wikipedia H.E. He was the Secretary General of the UAE Cabinet since 2017, during which he was instrumental in strengthening the interdependence between the federal and local governments. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. He is a member of the High-Level Panel on Digital Cooperation, a panel of independent experts advising the United Nations Secretary-General on technological developments and technology related issues. The scope of the audit is agreed between the Audit Committee and the auditor. Mr. Kanoo currently serves as the Chairman of The Kanoo Group, one of the largest, longest running and independent family-owned groups of companies in the Gulf region. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital).
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