abu dhabi investment authority board of directors

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. Overall between 70% and 80% of the organization's assets are managed outside, and over the last few years the fund has become more indexed which given its unique asset liability structure is somewhat perplexing. H.E. 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. Khalid Deemas Alsuwaidi was appointed by Abu Dhabi Investment Council (ADIC) to join the ADCB Board of Directors in March 2009. 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. 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. 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. In keeping with the Bank's principles of transparency, Directors may use the iPad application to view and access all documents presented to the Bank's management committees, as well as minutes of meetings of those committees. 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. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. ADIA Lab announces Advisory Board, academic collaborations and in Business Administration. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. 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. 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, Under the patronage of H.H. The Board of Directors (the "Board") is the Bank's principal decision-making forum. BSc Business Finance (Lewis &Clark College, USA). Thereafter, senior management provides regular updates to the Board of Directors to monitor progress against budget and strategy and permit any necessary modifications or adjustments in strategic direction. . [1], ADIA's operations have been characterized as secretive and opaque. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). ADGM leadership Board of Directors | Mubadala - Mubadala Investment Company 4 of 2007 as amended by Federal Decree Law No. Strategy and management - setting the Bank's long-term objectives and commercial strategy, and monitoring management's performance; Structure and capital - approving changes relating to capital structure, corporate structure and management and control structures; Financial reporting, planning and controls - approving interim and final results, annual report and accounts, dividends, business plans, budgets (including funding plans) and forecasts, significant changes in accounting policies or practices, remuneration of and appointment or removal of auditors and other material accounting policies; Internal controls - setting and monitoring internal controls; Risk - setting the Bank's risk strategies and appetite and monitoring the Bank's approach to material risks; Major transactions - approving major capital investments and projects, by reason of materiality or size, including acquisitions, mergers, disposals, and material contracts not in the ordinary course of business; Board and other appointments - appointment or removal of the GCEO, the Board Secretary and other senior management, succession planning, terms of reference and membership of Board Committees, annual performance review of directors and Board Committees; GCEO - annual evaluation and supervision of the GCEO; Remuneration - determining policy for remuneration of directors and senior executives, creation and approval of share incentive plans and other remuneration schemes; and. H.E. H.E. Staff. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. Board Member, Ely Lilly Foundation, Indianapolis, IN, USA. As a custodian of the Federal assets of the United Arab Emirates, the EIA is mandated to strategically invest funds allocated by the Federal Government to create long-term value for the UAE and contribute to the future prosperity of the country. H.E Mohammed Al Shuwaidi holds a B.Sc. The Board of Directors set the strategic direction of the Bank (with due consideration given to risk tolerance, shareholder expectations, business development opportunities and other macroeconomic factors), which senior management then uses to design the Bank's strategic plan and prepare the annual budget for Board approval. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. 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. Each asset class has its own fund managers and in-house analysts covering it. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Abu Dhabi Investment Authority | International Forum of Sovereign Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. 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. And a Chairman at Emaar Malls PJSC and an Independent Director at Badwa Capital Ltd.He previously served on the board of The National General Insurance Company and Takaful House, both publicly listed insurance companies, and was appointed as the interim chairman of Dubai Bank after its takeover by Emirates NBD. She has over ten years of experience in funds and direct private equity investments. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. H.H. Begins to serve as advisor to Cabinet on key assets and corporate governance. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). Carlos Obeid joined the ADCB Board of Directors in 2019. 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 excitement of helping others achieve their goals, both big or small, is what drives him. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. 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). ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. The Bank complies with the independence requirements of the Central Banks Corporate Governance Regulation and Standards for Banks (Circular No.89/2019 dated 18th July, 2019) and the Securities & Commodities Authority (SCA) Chairmans Resolution No.3/TM of 2020 Regarding the Approval of the Public Join-Stock Companies Governance Guide. 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. Decree establishes the EIA as sole Federal investment vehicle. Saeed Almazrouei was appointed to the ADCB Board of Directors in 2019. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. 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. 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. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. 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. MSc Civil Engineering (Northeastern University, USA) in Economics. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. All rights reserved. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. Abu Dhabi Investment Authority - Investments, Portfolio & Company Exits Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. Reporting to H.H., the Managing Dir. 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: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. 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. 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. 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. Aysha Al Hallami does not hold any external directorships. Air Arabia Abu Dhabi - Wikipedia Copyright 2023 ADCB. Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. Managing Director H.H. The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. Abu Dhabi economy to benefit from new sustainability and renewable 17 May, 2021. As a result of regular written declarations submitted by each of the Board Members, the Board maintains satisfactionthat the other commitments of the Directors do not conflict with their duties, or that, where conflicts may arise, the Board is sufficiently aware and appropriate policies are in place to minimise the risks. 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. H.E. Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. 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. Jan Schuster Portfolio Manager - Private Equity Division. The Board's Audit Committee ensures the implementation of regulations, policies and procedures through all Bank departments aimed at mitigating identified risks and safeguarding the interests of the Bank and its shareholders. The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. [8] Due to its size, the fund has been influential in international finance. We first developed an effective corporate governance framework with a strong board of directors and an active Executive Committee which reflected the unique nature of our mandate. Staff - EIA Board of Directors | Abu Dhabi Investment Council In addition, he serves as a member of the Board Directors in Emirates Investment Authority. Mansour bin Zayed chairs meeting of EIA Board of Directors. 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. 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 . The following matters are reserved to the Bank's Board in accordance with best practices: The Board conducts a formal and rigorous evaluation of its performance annually, with a view to constructively identifying areas of success and achievement, as well as areas, which may require improvement. Board of Directors Corporate Governance Board of Directors H. E. Khaldoon Khalifa Al Mubarak CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more H. E. Hussain J. AlNowais VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR) Read more Khaled H. Alkhoori INDEPENDENT, NON-EXECUTIVE DIRECTOR Read more Khalid Deemas Alsuwaidi NON-EXECUTIVE DIRECTOR Sheikh Hamed bin Zayed Al Nahyan: ADIA 2013 Overview - WAM", "Abu Dhabi Investment Authority Director Jauan Al Dhaheri Dies", "Sheikh Khalifa honours Emiratis for their service to the UAE - The National", "ADIA at 40: UAE Central Bank Chairman says fund has preserved and grown Abu Dhabi's capital", "First American Corp. V. Al-Nahyan, 948 F. Supp. 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. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. Win whats next. The Board iPad application is also used to provide Directors with access to other relevant information, and induction documentation. Managing Director | Abu Dhabi Investment Council 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. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Board Of Directors; CEO's Message; Staff. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. MSc Business Administration (INSEAD) ABU DHABI, Under the patronage of H.H. Please refer to ADCBs annual report for further details on Directors remuneration. 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. Playing a role in bettering peoples lives is a great instigator for doing what he does. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. Dr. Al Jaber also holds several leadership roles and advisory positions and counsels on issues related to Energy, Economics, Strategic Communications & Sustainable Development. In 2012, he was nominated and elected by ADCB shareholders to act as a Director, and in March 2015, he was again nominated and elected by ADIC to act as a Director. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. In the event that a vacancy arises, Directors are permitted to elect any individual nominated to fill the vacancy, but any director so appointed must seek election by the shareholders at the next annual general meeting. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. He has also been Chairman of Emirates Financial Services. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. in Accounting from United Arab Emirates University (UAEU). Board of directors. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. Both loans will require onlending Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. 13 of 2009. . Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. 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. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. H.E. MSc Finance & Banking (Cass Business School, City University, UK) It is primarily involved in the establishment of Abu Dhabi National Bank 1968, and working in multiple sectors such as Banking, Financial services as well as Insurance services and manages investments. The Bank is subject to five main sources of regulation and supervision: Directors' remuneration is set annually by the Board following delegation from the Bank's shareholders. Al Marri is a member of the Boards of Directors of different federal entities. 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. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. [12] ADIA also invests in development projects including malls. BOD | Al Ramz - Al Ramz Corporation PJSC - WE LIVE BY OUR WORD Shareholder support Investment Leadership Program (ILP) Working at EIA; Media & Resources; . Contact. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. Prior to taking on the leadership position at ADNOC, Dr. Al Jaber was the Chief Executive Officer of the Energy platform at Mubadala, the Abu Dhabi governments strategic investment arm. Number of Exits 23. An external auditor is appointed annually by shareholders on the recommendation of the Board of Directors. 2023 PitchBook. 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. Sheikh Zayed bin AweidhaMANAGING DIRECTOR, Dr. Ahmed Abdulla Ghaith Al SuwaidiBoard Member. The function is both administrative and strategic. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Shubhrawpratap Dasgupta Advisor Jan 5, 2017. He serves on the board of Emirates Global Aluminum-the fifth largest aluminum company in the world. H.H. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms.

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