BSc Finance (Suffolk University, USA). Governance structures in place- kick starts reputation as standard-bearer for good governance. He started his career at Abu Dha. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. H.E. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. He is a UAE national, coming from a prominent family of businessmen primarily engaged in trading sector businesses. In particular, the Bank recognizes the damage that could be created by conflicts of interest at Board level, whether disclosed or undisclosed; this includes potential conflicts with the interests of the Bank's controlling shareholder and its related parties. View Biography Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. ABU DHABI, Under the patronage of H.H. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. To lead the Board and ensure the effective engagement and contribution of all Directors, so that the Board may fully discharge its legal and regulatory responsibilities; To ensure effective communication with shareholders and ensure that the Board members understand the views of the major shareholders; To oversee the annual performance evaluation of the Board and individual Directors; and. Board Of Directors; CEO's Message; Staff. 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. Using prudent investment strategies in accordance with global best practice, the EIA . [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. The function is both administrative and strategic. Chartered Financial Analyst, (CFA Institute, USA) Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. 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. His Excellency earned his stripes in professional finance at Citi Bank in London. In his capacity as Minister of Cabinet Affairs and The Future, Al Gergawi led the development of the UAE National Agenda and Future Foresight Strategy. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. In 2006, between 70% and 80% of the organization's assets were managed outside with an aim to bring that down to between 60% and 70%. [14][15], On 27 May 2013, ADIA published its 2012 Review, with an overview of its activities during the past year as well as an explanation of its approach to investing strategy, governance and risk management.[16]. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. He has guided ADNOC through a number of strategic firsts, including entering the global capital markets for the first time, completing the first ever IPO of an ADNOC business (ADNOC Distribution) and attracting significant FDI from strategic and private equity investors to stimulate smart growth across ADNOCs upstream, midstream and downstream value chain. Mr. Al Mahmood has held senior roles at a number of companies including the Abu Dhabi Investment Authority (ADIA), and was also Chief Executive Officer, Managing Director and a board member of the development and investment company Al Qudra Holdings. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. 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. EIA invests into a globally diversified investment portfolio. Abu Dhabi Finance P.P.C is closed UAE Joint stock company headquartered in Abu Dhabi with a paid-up capital of USD ($)142,780,000. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. She is an integral part of the team responsible for selecting, building and managing a portfolio of funds and relationships in Europe, Middle East & Africa. The IAG is responsible to ensure that all transactions undertaken by the Bank are conducted in accordance with the Banks internal procedures, and in compliance with applicable legal and regulatory requirements, thereby minimising the risk of fraudulent, improper or illegal practices. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. 13 of 2009. . Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister, Minister of Presidential Affairs and Chairman of the Board of Directors of the Emirates Investment Authority (EIA), the. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). The Board of Directors (the "Board") is the Bank's principal decision-making forum. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. 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. The Board has adopted a rolling agenda to ensure that each of its responsibilities is satisfied on a periodic basis, and considers other agenda items on an 'as required' basis. Devoting his career to progress, bold ideas and teamwork, His Excellency has positioned ADIO to always seek new ideas and challenges in order to promote Abu Dhabi globally. Learn more. . Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. We quickly established a formal, three-stage investment process consisting of: rigorous pre-screening and initial due diligence; followed by Investment Committee review and debate; and final investment decision-making from our Executive Committee. H.E. 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. 1107 (D.D.C. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. In July 2020, Dr Al Jaber was appointed Chairman of Emirates Development Bank, a key partner in providing financial services for the sustainable economic and social development of the UAE. H.E. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. She has also successfully completed the General Management Program at Harvard Business School. According to the Sovereign Wealth Fund . His career in asset management began at Abu Dhabi Investment Authority (ADIA) in 1983, where he ultimately served as Deputy Managing Director from 1997 to 2007. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. The Board considers that there is an appropriate balance of knowledge, skills and experience on the Board and that the size and balance of the Board is appropriate. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. in Economics and Politics from Bristol University, and obtained an M.A. Conor Boden . His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. 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. 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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. H.H. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. Decree establishes the EIA as sole Federal investment vehicle. He also chairs the World Government Summit, a global platform focused on shaping the future of governments. Saeed Mubarak Al Hajeri - Vice Chairman Chairman of Abu Dhabi National Energy Company, Executive Director & Member of Strategy Committee at Abu Dhabi Investment Authority and Member of the Editorial Advisory Board of MSCI Barra. H.E. 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. Dr. Al Jaber also holds several leadership roles and advisory positions and counsels on issues related to Energy, Economics, Strategic Communications & Sustainable Development. All three functions cover all banking activities in general and key risk areas in particular. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. As Chairman of the Board, H.H. Established in 2007, the EIA has actively sought unique investment opportunities locally, regionally and internationally, focusing on investing in asset classes that will help strengthen and diversify the UAE economy. H.E is the Chairman of Emirates Water & Electricity Company and the Vice Chairman of Abu Dhabi Power Corporation and a member of the Board of Directors for Emirates Global Aluminum, Aramex Logistics Company, Minas de Aguas Teidas Copper Mine, Sociedad Minera de . However, all loans are made on arms' length terms. The Bank's Board of Directors comprises 11 Directors - majority of which are independent, non-executive Directors elected or appointed by the Bank's shareholders. DISTINGUISHED LEADERSHIPBoard of Directors Mr. Hareb Al Darmaki Co-founder and Chairperson of the Board H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Member of the Libyan Reconciliation Commission. 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 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 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. [1], ADIA's operations have been characterized as secretive and opaque. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. All rights reserved. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. In particular, it sets the goals, strategies and policies of the Bank. 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. Thomas Arnold Board Member. Its responsibilities also include reviewing the appropriateness and effectiveness of the Group's risk management systems and controls, reviewing the outcome of stress tests and the Bank's stress-testing methodology, overseeing the Management Risk Committees and ensuring that the Bank's risk governance is supportive of prudent risk-taking at all levels in the Bank. Board Member of Cleveland Clinic Abu Dhabi. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. H.E. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. How satisfied are you with the overall experience on our website? At EIA, we value our staff as one of our most . Abu Dhabi Investment Authority 's most notable . H.E. Mr. Al Darmaki received a B.S. As the central government hub supporting investment in Abu Dhabi, we are committed to growing the emirate's private sector and diversifying its economy. ADIA conducts its investment activities without reference to the Government of Abu Dhabi and has no visibility on the spending requirements of the Government or the activities of other Abu Dhabi-owned investment entities. The external audit partner attends meetings of the Audit Committee by invitation and, if so required, attends the Board meetings when the annual and quarterly reports are approved and signed, and otherwise when needed. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. . This is a profile preview from the PitchBook Platform. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Board of directors. All audits are conducted in accordance with the annual audit plan, which is approved by the Audit Committee, and which may be broadened, as circumstances require. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. His dedication to advancing the United Arab Emirates has been demonstrated through numerous director and chairman roles in major financial institutions and government bodies: Chairperson of the Board of UAE Central Bank, Chairperson of the National Bank of Abu Dhabi, Member of the Supreme Petroleum Council, Board Member of ADIA, Chairman of Abu Dhabi National Insurance Company, Member of Allianz International Advisory Board and Chairperson of the Arab Banking Corporation. ADIA Lab, the independent research institute dedicated to basic and applied research in data and computational sciences, commenced operations today, the 51st National Day of the UAE.As part of its launch, the Lab announced the composition of its Advisory Board, the details of its first academic collaborations, and launched a US$ 100,000 research award.
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