abu dhabi investment authority board of directors abu dhabi investment authority board of directors

. Directors access to independent professional advice policy (PDF), Procedures for selection and appointment of the Banks Directors, Procedures for selection and appointment of the Banks Directors Flowchart (PDF), Board performance evaluation policy (PDF), Directors' conflicts of interest policy (PDF), Abu Dhabi Executive Affairs Authority, Chairman (2006), UAE, Emirates Nuclear Energy Corporation, Chairman (2009), UAE, Emirates Global Aluminium PJSC, Chairman (2014), UAE, City Football Group Limited, Chairman (2008), UK, Abu Dhabi Executive Council, Member (2006), UAE, UAE Supreme Council for Financial & Economic Affairs, Member (2020), UAE, Abu Dhabi National Oil Company, Member (2021), UAE, AlNowais Investments LLC, Chairman (2016), UAE, Rotana Hotels and Real Estate Investment, Member (2006), UAE, Abu Dhabi National Hotels PJSC, Non-Executive Director (2009), UAE, Abu Dhabi National Takaful Company PSC, Vice-Chairman (2008), UAE, Manazel Group, Non-Executive Director (2009), UAE. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. 1996)", Sovereign Wealth Fund Institute Abu Dhabi Investment Authority, https://en.wikipedia.org/w/index.php?title=Abu_Dhabi_Investment_Authority&oldid=1141187949, Mohammed Habroush Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Hamad Mohammed Al Hurr Al Suwaidi, Head of the Department of Finance (Abu Dhabi), Ghanim Faris Ghanim Ateish Al Mazrui, former financial advisor to Sheikh, This page was last edited on 23 February 2023, at 20:27. H.E. ADCB has implemented a Directors' conflicts of interest policy. H.E. BSc Finance (Suffolk University, USA). As Chairman of the Board, H.H. Through strategic investments, AD Ports has grown to become a full service transportation hub, leveraging Abu Dhabis location at the nexus of three continents, and making significant contributions to the UAEs economy and diversification efforts. 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. H.E Mohammed Al Shuwaidi holds a B.Sc. In addition to his roles at ADIA and Gulf Capital, Mr. Al Darmaki holds multiple board roles, including Chairperson of Neue Privat Bank (Middle East), Board and Committee Member at Emirates Investment Authority. Amr Al Menhali has a proven executive management track record with over 22 years of experience across a number of leadership positions in the financial sector such as the CEO of Al Hilal Bank (previously) and Waha capital. 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. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. The Abu Dhabi Investment Authority will receive units that will be convertible into Citigroup shares at a price of up to $37.24 a share between March 15, 2010, and Sept. 15, 2011. Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. In addition to this, he is currently a board member in Abu Dhabi Housing Authority and a member of Investment Committee in Sandooq Al Watan. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. Khaldoon Khalifa Al Mubarak holds a number of UAE Government and Abu Dhabi Government responsibilities, including: a Member of the Abu Dhabi Executive Council since 2006; a Founding Member of Abu Dhabis Supreme Council for Financial and Economic Affairs; the Presidential Special Envoy to China since 2018; and the Founding Chairman of the Abu Dhabi Executive Affairs Authority, which has provided strategic policy advice to the Chairman of the Abu Dhabi Executive Council since 2006. ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. Ahmed Saeed Al Calily, Chief Strategy and Risk Officer, Mubadala Investment Company M Ahmed serves as Mubadala's Chief Strategy & Risk Officer, where he is responsible for the company's Corporate Strategy, ESG, and Enterprise Risk Management framework. 17 May, 2021. Learn more. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. 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. Kanoo has been investing on a personal and company level since 1991. 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 . He has led several strategic transformation projects, developing high performance businesses to achieve sustainable growth. 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. . Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. In 2013 Dr. Al Jaber was appointed an honorary Commander of the Most Excellent Order of the British Empire (CBE) by Her Majesty Queen Elizabeth II. According to the Sovereign Wealth Fund . Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. Even today, investment in short-term paper remains the strategy for the vast majority of countries. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. 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. 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. As Chairman of the Board, H.H. 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. Investment Stage Secondary Market. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. H.E. Al Gergawi is the Board Chairman of the Federal Competitiveness and Statistics Authority (FCSA), the government body responsible for developing and enhancing the countrys performance in the areas of global competitiveness and statistics. The IAG performs its function in accordance with a risk-based audit methodology. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. He has prioritized the adoption of breakthrough technologies including AI, Big Data and Blockchain to ensure ADNOC stays ahead of global energy demand and remains a key contributor Using prudent investment strategies in accordance with global best practice, the EIA . Ms. Ghobash currently serves as a board member of Abu Dhabi National Oil Company for Distribution (ADNOC Distribution), Emirates Telecommunications Group Company Etisalat, Emirates Development Bank and Zayed University. Thoma Bravo Fund XV, L.P. managed by Thoma Bravo, L.P. and Abu Dhabi Investment Authority entered into an Agreement and Plan of Merger to acquire Coupa Software Incorporated from a group of. The EIA was established in 2007 through Federal Decree Law No. The excitement of helping others achieve their goals, both big or small, is what drives him. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. Site Advisory: Fraud Warning; . Previously he had held various board membership in several regional and international publicly listed companies across various sector such as finance, oil & gas, real estate and healthcare (UAE Banks Federation, GFH Financial Group, NESR (NASDAQ listed), SDX Energy (AIM listed), Deem Finance and Abu Dhabi Finance. MSc Civil Engineering (Northeastern University, USA) As Chairman of the Board, H.H. The Board maintains awareness of the other commitments of its Directors and senior management. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. 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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. Aysha Al Hallami does not hold any external directorships. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. Though it talks of its long term success in generating returns, the fact that it has moved closer to the index and manages most of its funds through external third party fund managers shows that its tolerance for risk taking is greatly diminished over the years. 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. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. The Board of Directors are responsible for determining the Bank's strategic direction. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. Mr. Al Badi has more than 35 years of experience in the government and private sector. Each asset class has its own fund managers and in-house analysts covering it. 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. View Biography She also served on the boards of National Bank of Abu Dhabi, Al Hilal Bank and National Takaful Co. Watania and was a Director in the Global Special Situations Department at the Abu Dhabi Investment Council. Monitoring by the Central Bank is undertaken by way of regular inspections of banks and their records and the requirement for regular submission of data including credit data and anti-money laundering measures. Governance structures in place- kick starts reputation as standard-bearer for good governance. Dr. Al Jaber is Chairman of the Board of Trustees of the Mohamed bin Zayed University of Artificial Intelligence, the Worlds first graduate-level, research based AI University. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). H.E. Strong business development professional with a Claritas Investment Certificate from CFA Institute & Operational Risk Management Certificate from Chase Coopers. Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. [1], ADIA's operations have been characterized as secretive and opaque. 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. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. 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. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. [8] Due to its size, the fund has been influential in international finance. The Banks internal controls over financial reporting include policies and procedures that (i) are designed to ensure maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Bank; (ii) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with accounting principles, and that receipts and expenditures of the Bank are being made only in accordance with authorizations of management and directors of the Bank; and (iii) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Banks assets that could have a material effect on the financial statements. H.E. Internal controls are designed to ensure that adequate independent internal checks and balances exist in keeping with the maker-checker or four-eye principle and that the oversight roles are embedded in areas reporting independently to non-originating areas. 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. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. Chartered Financial Analyst, (CFA Institute, USA) Abu Dhabi Investment Authority 's most notable . The Abu Dhabi Investment Council is an investment arm of the Government of Abu Dhabi. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. H.H. Furthermore, the UAE Minister of Economy, in his previous post, took part in the unveiling of the Hatta Economic Zone development project and the relaunching of the Mohammed Bin Rashid Center for Leadership Development. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. Ensure that effective measures are in place to safeguard the Banks assets; Ensure proper accounting records and reliable financial information by procedures designed to avoid or reduce risks and ensure compliance with applicable laws and regulations; Ensure that an adequate and effective system of internal controls and procedures is established and maintained; and. This is a profile preview from the PitchBook Platform. 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. 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 Chairman's main responsibilities include: The day to day management of the Bank has been delegated by the Board to the GCEO and the senior management team. Board Member, Ely Lilly Foundation, Indianapolis, IN, USA. Al Marri is a member of the Boards of Directors of different federal entities. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). [12] ADIA also invests in development projects including malls. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. His Excellency earned his stripes in professional finance at Citi Bank in London. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi Copyright 2023 ADCB. As a distinguished economist he became one of the top corporate turnover specialists and the most influential player in the history of UAE financial markets. However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. 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. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. The assets of the fund are managed by the executive management team. Please refer to ADCBs annual report for further details on Directors remuneration. 2023 PitchBook. Playing a role in bettering peoples lives is a great instigator for doing what he does. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. H.E. 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. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. FAB's Board of Directors have huge and various experiences in different fields and domains giving the bank a strong stand. H.E. [10] 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. Reporting to H.H., the Managing Dir. Feedback. 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). Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. The GCEO and his senior management team are responsible for controlling and monitoring the Bank's business on a day to day basis, recommending strategy to the Board, managing the Bank's staff and implementing the Board's strategic and operational decisions.