Contact Email dg_dgm@yahoo.in. It will be backed by a major commitment from the Authority. BSc Civil Engineering (Northeastern University, USA). The EIA was established in 2007 through Federal Decree Law No. 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. H.E. 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. In 2006, directed by the UAE leadership, Dr Al Jaber led the team that established Masdar . 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. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. in Business Administration. Board Of Directors - EIA With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Get the full list, Youre viewing 5 of 8 board members. He is also a board member of the Economic Zones World and Dubai Real Estate Corporation. 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. Al Hussaini holds a Masters degree in International Business from Webster University in Geneva, Switzerland. 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. H.E. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. These investment departments, which invest across multiple geographies, have discretion over the origination and recommendation of investment proposals. The Bank's policy is to, so far as possible, engage in transactions with related parties (including Directors) only on arm's-length terms. UAE Federal Laws, including the Federal Law No.2 of 2015 Concerning Commercial Companies, as administered by the Ministry of Economy and the Department of Planning and Economy, in addition to any other local regulatory authorities of the Emirates. As Chairman of the Board, H.H. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. Board of Directors | Abu Dhabi Finance P.P.C Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. However, ADIA's ratio of third-party fund managers is being actively managed. 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. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. 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. Directors are eligible to receive, and have received, loans from the Bank. 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. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. 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. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. They are appointed by Emiri decree. One-third of the Board will seek re-election on an annual basis. [6][citation needed], In the Bank of Credit and Commerce International scandal of the 1990s, ADIA reportedly lost hundreds of millions of dollars. At EIA, we value our staff as one of our most . VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). He is the Founding Member and Chairman of AlNowais Investments. Chartered Financial Analyst, (CFA Institute, USA) The function is both administrative and strategic. 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. She is an integral part of the team responsible for . Win whats next. Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. ABU DHABI, Under the patronage of H.H. The excitement of helping others achieve their goals, both big or small, is what drives him. 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. 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. PitchBook provides insight into a limited partners preferred investments, including actual and target allocations by strategy, secondary market preferences and interest in first-time funds. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. 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. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. Kanoo has been investing on a personal and company level since 1991. As well as acting as administrator for the Board's activities, the Board Secretariat works closely with both the Board of Directors and the management to facilitate communication and transparency. H.E. 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. Board of Directors | Mubadala - Mubadala Investment Company Sheikh Zayed does not hold any external directorships. In addition, he was the CEO of the Dubai Future Foundation, enabling him to play a vital role in the successful launch of Dubai 10X and other initiatives of national importance. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. 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. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. Overview We are the Abu Dhabi Investment Office - ADIO. Board of directors. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. The Board maintains awareness of the other commitments of its Directors and senior management. H.E. H.E. Chief Financial Officer, Private Equities Department, Youre viewing 5 of 29 commitments. H.H. Thomas Arnold Board Member. 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. Mr. Al Badi has more than 35 years of experience in the government and private sector. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. Last edited on 23 February 2023, at 20:27, Bank of Credit and Commerce International, International Forum of Sovereign Wealth Funds, "Top 100 Largest Sovereign Wealth Fund Rankings by Total Assets", "Gulf sovereign wealth funds among world's least transparent", "Biggest Gulf Wealth Funds Are Faulted for Lagging on Governance", "Cash-Rich, Publicity-Shy, Abu Dhabi Fund Draws Scrutiny", "Money and mystery: Adia unveils its secrets", "Generally Accepted Principles and Practices (GAPP)Santiago Principles", https://www.swfinstitute.org/fund-rankings/sovereign-wealth-fund, "The Abu Dhabi Investment Authority is a Buyer of Hotels Sovereign Wealth Fund Institute", "Abu Dhabi Power to take control of TAQA in asset swap", "Abu Dhabi Investment Authority Publishes 2012 ADIA Review", "Sheikh Ahmed Bin Zayed Al Nahyan: 1969-2010", "H.H. Staff - EIA Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. ADIA Lab announces Advisory Board, academic collaborations and 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). Feedback. BSc Finance (Suffolk University, USA). The IAG performs its function in accordance with a risk-based audit methodology. His Excellency holds a PhD in Economics from Imperial College, London. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. H.E. Number of Board Member and Advisor Profiles 3. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. [8] Due to its size, the fund has been influential in international finance. Listen to the content of the page by clicking on listen below CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). He also chairs the World Government Summit, a global platform focused on shaping the future of governments. Mr. Al Darmaki received a B.S. 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. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. However, all loans are made on arms' length terms. Number of Exits 23. Governance - ADIA She is also a CFA and CAIA charter holder. 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. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. Board of Directors - Cleveland Clinic Abu Dhabi In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. of Corrections, Colorado Springs, CO, USA. To develop a constructive relationship with the GCEO and to manage his performance. Group 42 is an artificial intelligence and cloud computing company that was founded in Abu Dhabi, United Arab Emirates in 2018. 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 Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. Shubhrawpratap Dasgupta Advisor Jan 5, 2017. . . Citigroup to sell equity to Abu Dhabi investors - chron.com 2023 PitchBook. Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. 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. PDF Report and Recommendation of the President to the Board of Directors This enabled us to assume the dual roles of a trusted advisor to the Federal Government as well as a highly efficient and capable investment manager of the UAEs sovereign wealth. 4 of 2007 as amended by Federal Decree Law No. To read relevant policy please see below: The Board Secretariat delivers Board papers to the Board by means of a secure iPad application. 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. 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. Al Gergawi is the Secretary-General of the Mohammed bin Rashid Global Initiatives (MBRGI), a philanthropic foundation that combines under its umbrella over 30 humanitarian and developmental initiatives and entities. He started his career at Abu Dha. All rights reserved. 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 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. Air Arabia Abu Dhabi - Wikipedia Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. Each asset class has its own fund managers and in-house analysts covering it. Furthermore, he is a professional and motivational speaker, writes articles for local and regional media, is published in business journals on a regular basis, and holds chief positions as Chairman/Director of various reputable companies, including Gulf Capital, KHK & Partners Limited, Dalma Capital, Johnson Arabia LLC and KAAF Investments. 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. 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. In addition, an external consultant will be appointed to independently evaluate the performance of the Board, Board Committees and individual Directors at least once every three (3) years. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. [12] ADIA also invests in development projects including malls. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. ADIA's mission is to sustain the long-term prosperity of Abu Dhabi by prudently growing capital through a disciplined investment process and committed people who reflect ADIA's cultural values. 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. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. He was the Secretary General of the UAE Cabinet since 2017, during which he was instrumental in strengthening the interdependence between the federal and local governments. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. Click here for Terms of Reference for the Board of Directors. Abu Dhabi Investment Authority - Investments, Portfolio & Company Exits Board of Directors - ADIA BSc Electrical Engineering (American University of Beirut). 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. in Economics. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. ADIA is a public institution established by the Government of the Emirate of Abu Dhabi in 1976 as an independent investment institution. His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Government. 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 . BSc Business Sciences, Finance (Zayed University, UAE). H.E. 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. 13 of 2009. Vision To provide the clean power and water that governments, businesses and consumers need for a sustainable and successful life Mission Be a low carbon power and water champion Our Values The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. 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. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management.
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