Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. 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%. Al Gergawi also holds the position of Deputy Chairman of the UAEs Ministerial Development Council, as well as Emirates Investment Authority, the UAE Federal Governments sovereign wealth fund. Investment Stage Secondary Market. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. of Corrections, Colorado Springs, CO, USA. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. 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. 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. The internal audit group (IAG) is responsible for the evaluation of the Bank's risk management, control and governance processes. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi Abu Dhabi Investment Authority - Investments, Portfolio & Company Exits Sheikh Zayed does not hold any external directorships. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. The current board dates back to the April 2010 reshuffle (Emiri decree n4/2010) and it was fully renewed April 2013. Mohamed Jouan Salem AlDhaheri - Specialist - Abu Dhabi Investment Andrew Kripke Director, Portfolio Manager - US Team. Aysha Al Hallami does not hold any external directorships. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. 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. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. 10 The terms and conditions of hard-term and those of regular-term loans in 2013. 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. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. The Central Bank the Central Bank provides prudential supervision of banking activities. Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. 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. Board of Directors - ADIA Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. Advisor to the Nigerian Minister of Communications. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. 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. In line with the above, the Bank has determined that, (a) Board members employed by Abu Dhabi Investment Council, the Government of Abu Dhabi's Department of Finance or Abu Dhabi Investment Authority should be classified as independent directors, (b) the Bank's Board contains a majority of independent directors, and (c) each of the Bank's Board committees contains a majority of independent directors. As the central government hub supporting investment in Abu Dhabi, we are committed to growing the emirate's private sector and diversifying its economy. Fatima Al Noaimi joined Mubadala in 2011 and is currently a Senior Principal on the Mubadala Capital Private Equity team. [4], The operations of ADIA have historically and to the present been secretive and opaque. In addition, he serves as a member of the Board Directors in Emirates Investment Authority. 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. It is the responsibility of Banks Board of Directors to: Control activities are closely monitored across the Bank by the Banks internal audit function, working independently of management. Abu Dhabi Investment Authority (ADIA) - Investopedia Board of Directors - Gulf Capital Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. 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. AAAID on LinkedIn: #adife #adnec #uae #agriculture #investment #food 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. H.H. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. 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. 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. He started his career at Abu Dha. Governance structures in place- kick starts reputation as standard-bearer for good governance. 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. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. As Chairman of the Board, H.H. How satisfied are you with the overall experience on our website? Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. 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. 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. Feedback. FAB's Board of Directors have huge and various experiences in different fields and domains giving the bank a strong stand. Mansour bin Zayed . Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. Abu Dhabi Investment Authority | International Forum of Sovereign She is an integral part of the team responsible for . One-third of the Board will seek re-election on an annual basis. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. Staff. [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. ADIA is required to invest these funds in such a way to generate sustainable long-term returns, and to return funds to the Government of Abu Dhabi, as needed. in Accounting from United Arab Emirates University (UAEU). Please refer to ADCBs annual report for further details on Directors remuneration. An external auditor is appointed annually by shareholders on the recommendation of the Board of Directors. 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. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. 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. She has over ten years of experience in funds and direct private equity investments. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi Abu Dhabi Investment Authority - Crunchbase Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Kaltham is a graduate of the American University in Dubai, specializing in Business Administration. 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. 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. 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. 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 However, improvement of control activities is an ongoing process at ADCB that includes identification, evaluation and management of significant risks faced by the Bank. MSc Business Administration (INSEAD) [1], ADIA's operations have been characterized as secretive and opaque. Board Of Directors; CEO's Message; Staff. 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. ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. The Bank is committed to sound corporate governance practices. The Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. 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. While the Board's Audit Committee oversees and reviews the Banks compliance policies and their implementation, the Group Compliance department is responsible for monitoring compliance with local regulatory requirements. Decree establishes the EIA as sole Federal investment vehicle. MSc International Securities Investment and Banking (University of Reading, UK) To develop a constructive relationship with the GCEO and to manage his performance. Chartered Financial Analyst, (CFA Institute, USA) Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. Experienced Specialist with a demonstrated history of working in the investment management industry. 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 has more than 35 years of experience in the government and private sector. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. Copyright 2023 ADCB. 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. [2][3][4], In 1967, Abu Dhabi emirate created the Financial Investments Board which operated within its Department of Finance and was responsible for managing the Emirate's excess oil revenues. Former board positions include: Chairman of Abu Dhabi Commercial Bank, Vice Chairman of the Abu Dhabi Investment Company, Governor of the Board of the CFA Institute . 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. MSc Civil Engineering (Northeastern University, USA) 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. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. ADIA Lab announces Advisory Board, academic collaborations and Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . Saeed Almazrouei is the Deputy Platform CEO, Direct Investments, at Mubadala Investment Company PJSC. He is the Founding Member and Chairman of AlNowais Investments. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . Also, he is a graduate of the UAE Government Leaders Program and Mohammed Bin Rashid Center for Leadership Development. At EIA, we value our staff as one of our most . In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). Mishal Kanoo tries to help people reach their professional dreams. ADGM leadership 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. The Group Chief Internal Auditor functionally reports to the Audit Committee and to the Group Chief Executive Officer on administrative and day-to-day matters. 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. 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. Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. Degree in Economics & Finance (Tufts University, USA). Thomas Arnold Board Member. The principal activities of the company are dealing Managing Investment and operating funds, in addition to Arranging, Advising and Custody. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Mubadala Infrastructure Partners Limited, Chairman (2008), UAE, Cleveland Clinic Abu Dhabi LLC, Non-Executive Director (2010), UAE, GlobalFoundries Inc, Non-Executive Director (2012), USA, Mubadala Capital, Non-Executive Director, (2021), UAE, Borealis AG, Non-Executive Director (2020), Austria, Nova Chemicals Corporation, Non-Executive Director (2021), Canada, Aabar Investments PJSC, Non-Executive Director (2017), UAE, Abu Dhabi Retirement Pension & Benefits Fund (Operating Company), Non-Executive Director (2019), UAE, CEPSA - Compaa Espaola de Petrleos S.A., Non-Executive Director, Non-Executive Director (2019), Spain, OMV AG, Non-Executive Director (2021), Austria, International Petroleum Investment Company, Non-Executive Director, UAE, Yas Holding LLC, Non-Executive Director (2021), UAE. Phone Number (971) 241-5000. According to the Sovereign Wealth Fund . Mansour bin Zayed chairs meeting of EIA Board of Directors. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. The scope of the audit is agreed between the Audit Committee and the auditor. BSc Business Management (University of Sussex, UK). He has received various awards including the United Nations flagship award Champion of the Earth in 2012, given to outstanding visionaries and leaders in the fields of policy, science and entrepreneurship. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. 13 of 2009. . He has also been Chairman of Emirates Financial Services. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. 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. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. Kanoo has been investing on a personal and company level since 1991. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. The core mandate of the ministry is to increase industrial competitiveness and help drive economic growth by catalyzing the diversification of the UAEs economy. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. Contact Email dg_dgm@yahoo.in. For over 50 years, the Group has played . Carlos Obeid joined the ADCB Board of Directors in 2019. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. 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 Nati. 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 Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. 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. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf 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. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). Aysha Al Hallami does not hold any external directorships. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. 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. Our Objectives. 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 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. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). The excitement of helping others achieve their goals, both big or small, is what drives him. ABU DHABI, Under the patronage of H.H. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. 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. As Chairman of the Board, H.H. In 2006, while at Mubadala, at the direction of the UAE leadership, he helped establish Masdar, Abu Dhabis pioneering renewable energy initiative, and served seven years as its CEO, guiding its global contribution to clean technology and sustainable development. Abu Dhabi Investment Authority | International Forum of - IFSWF All rights reserved. in International Studies from the John Hopkins University. With the initial core team and governance framework in place, we were then entrusted with the custody, management and development of strategic federal assets such as Emirates Integrated Telecommunications Company (du) and Emirates Telecommunications Corporation (Etisalat). The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. These investment departments, which invest across multiple geographies, have discretion over the origination and recommendation of investment proposals. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. 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. The most relevant comments from the evaluation are presented to the Board, in the form of an action list, and its implementation is monitored by the Board's Nomination, Compensation, HR & Governance Committee. She also has an MBA in International Finance and is a member of the Institute of Management Accountants, IMA. in Business Administration. They are appointed by Emiri decree. Prior to CD&R, he served as CEO of BBA Group plc from 1993 to 2001, leading the successful restructuring and reorganization of the company, and continued to serve as chairman from 2001 to 2006. MSc Computer Science (University College London, UK) The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. ADIAs assets are not classified as international reserves. ADIA does not seek to manage or take an operational role in the companies in which it invests. 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 Abu Dhabi Investment Authority has made 51 investments. H.E. 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. Board of Directors | FAB - UAE - Bank (FAB H.E Mohammed Al Shuwaidi holds a B.Sc. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters.
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