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. 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 BSc Business Finance (Lewis &Clark College, 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. The Board of Directors of the Emirates Investment Authority consists of a group of distinguished and accomplished individuals, led by His Highness Sheikh Mansour Bin Zayed Al Nahyan as its Chairman. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. In addition, he serves as a member of the Board Directors in Emirates Investment Authority. BSc Civil Engineering (Northeastern University, USA). Khalid Deemas Alsuwaidi was appointed by Abu Dhabi Investment Council (ADIC) to join the ADCB Board of Directors in March 2009. In driving ADNOCs 2030 strategy toward a more profitable upstream, more valuable downstream and more sustainable and economic gas supply, Dr. Al Jaber has also led a digital transformation at the company. Mishal Kanoo tries to help people reach their professional dreams. H.E. 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. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). Lecturer & Head of Legal Affairs, High Commercial Institute, Kuwait, Published books on law that are adopted as text books in UAE and Kuwait University respectfully, Legal Advisor and Head of Legal Office; Ministry of Economy & Commerce, UAE, Legal Advisor of the Executive Council of the Emirate of AUH, Owner of Ghanayem Legal & Management Consultancy EST, Treasurer & Account Officer in Charge of Citibanks Financial Institutions in Dakar, Vice President Citibank Private Bank, Geneva, Managing Director Sahara Financial Management Services, Regional Director of Ecobank for Middle East, North Africa & India, Vice Chairman at Signature Africa Ventures. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. Board of Directors Members and Their Duties | AD Ports Group Abu Dhabi Investment Authority - Contacts, Employees, Board Members 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. All rights reserved. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. Sheikh Zayed was appointed as a Director of ADCB in 2021, having had gained experience working at the National Bank of Abu Dhabi and Morgan Stanley. Citigroup to sell equity to Abu Dhabi investors - chron.com ADIA does not seek to manage or take an operational role in the companies in which it invests. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. The ministry will also enable better integration between industrial sectors, while embedding advanced technology at the center of the nations industrial base. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. She is an integral part of the team responsible for . She has also successfully completed the General Management Program at Harvard Business School. H.E. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. 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). Abu Dhabi economy to benefit from new sustainability and renewable However, all loans are made on arms' length terms. 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. The Board Secretariat assists the management by helping them to understand the requirements and directions of the Board and proactively facilitates the governance of the Bank. 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. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. Managing Director H.H. H.E. He is former chairman of IMI plc and a former non-executive director of SPIE, BAE Systems plc, Foster Wheeler Corporation, Fondo Strategico Italiano, Equant NV, and PowerGen plc. Begins to serve as advisor to Cabinet on key assets and corporate governance. Before his current position, Saeed Almazrouei was Deputy Chief Financial Officer at Mubadala Investment Company PJSC, where he oversaw the group-wide finance function and delivery of the companys growth strategy, supporting various acquisitive transactions and asset monetizations. 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. 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. 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. 4 of 2007 as amended by Federal Decree Law No. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. Abu Dhabi Investment Authority | International Forum of - IFSWF He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. As Chairman of the Board, H.H. 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. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. ABU DHABI, H.H. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. As a listed company, the Bank is subject to the rules and regulations enforced by the Emirates Securities and Commodities Authority and the markets upon which its shares and debt are listed, including the ADX, the London Stock Exchange, the Irish Stock Exchange, the Luxembourg Stock Exchange and the Swiss Stock Exchange. The Abu Dhabi Investment Authority (Arabic: , ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. Board papers are delivered at least 3 business days before each Board meeting. It has overall responsibility for leading, supervising and controlling the Bank and is accountable to the shareholders for creating and delivering sustainable shareholder value through its guidance and supervision of the Bank's business. Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. Investment Stage Secondary Market. Between 1981 and 2014, he led strategic positions in the government of United Arab Emirates including Minister of Health, Minister of Oil and Natural Resources, Vice President of OPEC, Chairman of the Executive Board of the Arab Ministers of Health, Establisher and Chairman of the Executive Board of the Federal Environment Agency, Chairman of the Executive Board of Emirates Petroleum, Member of the Advisory Board of Eastern Mediterranean Regional Organization World Health Organization, Member of the Board of Trustees of Emirates Foundation, a philanthropic organization set up by the Government of the Emirate of Abu Dhabi, Member of the Board of Abu Dhabi Council for Economic Development an economic policy advisory council established by law in the Emirate of Abu Dhabi. 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 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. The IAG performs its function in accordance with a risk-based audit methodology. Abu Dhabi Fund for Development 30 6 European Investment Bank 70 14 Japan International Cooperation Agency 184 36 Government and/or Nepal Electricity Authority 71 14 Total 505 100 Source: Asian Development Bank estimates. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. 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. MSc Business Administration (INSEAD) The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. He holds a Bachelors Degree in Economics from Northeastern University of Boston, Massachusetts, U.S.A. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Em. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. Even today, investment in short-term paper remains the strategy for the vast majority of countries. Click here for Terms of Reference for the Board of Directors. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Governments Executive Office. Board Member of Cleveland Clinic Abu Dhabi. 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. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. Abu Dhabi Investment Authority - Wikipedia The Bank is committed to sound corporate governance practices. 13 of 2009. . Khalifa Al Kindi is a Managing Partner and Co-Founder of Abu Dhabi-based Liwa Capital Advisors. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. However, in 1976, Sheikh Zayed bin Sultan Al Nahyan, the founding president of the United Arab Emirates, converted it into the Abu Dhabi Investment Authority. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. Abu Dhabi Investment Authority (ADIA) is a public institution established in 1976 by the Government of the Emirate of Abu Dhabi as an independent government investment institution. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. Number of Board Member and Advisor Profiles 3. Also, he is a graduate of the UAE Government Leaders Program and Mohammed Bin Rashid Center for Leadership Development. Home - EIA Abu Dhabi Finance P.P.C is an entity authorized from Capital Market Authority. [12] ADIA also invests in development projects including malls. Board of Directors | FAB - UAE - Bank (FAB The Board of Directors is the highest authority within the Council and is composed of a Chairman, Managing Director and other board members, all of whom are senior government officials appointed by Decree from the Ruler of . Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. in Economics and Politics from Bristol University, and obtained an M.A. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. 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. The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. Sheikh Mansour bin Zayed Al Nahyan, How satisfied are you with the overall experience on our website? 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 Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Decree establishes the EIA as sole Federal investment vehicle. The board members currently serve for a period of three years, and can be renewed. Directors are eligible to receive, and have received, loans from the Bank. He also sits on a number of boards, including AXA and Emirates Post Group. 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. 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. Board Of Directors; CEO's Message; Staff. 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. His Excellency earned his stripes in professional finance at Citi Bank in London. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. Governance - ADIA In particular, it sets the goals, strategies and policies of the Bank. Overview We are the Abu Dhabi Investment Office - ADIO. According to the Sovereign Wealth Fund . Home | Abu Dhabi Investment Group He is the Founding Member and Chairman of AlNowais Investments. All rights reserved. MSc Computer Science (University College London, UK) Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. H.E. Playing a role in bettering peoples lives is a great instigator for doing what he does. The programme comprises a comprehensive Directors' induction pack, meetings with other Directors and senior management, as well as comprehensive guidance on the duties and responsibilities of Directors, the Bank's policies and procedures and relevant legal and regulatory requirements. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. to the UAEs economy. He is currently part of the senior management team in the Crown Prince Court, serving as the executive director of the financial affairs, overseeing the entire financial activities and strategic initiatives.
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