Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. Decree establishes the EIA as sole Federal investment vehicle. Khalil Mohammed Sharif Foulathi Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Fraud Warning Terms & Conditions Sitemap Contact The Board monitors the performance of the Bank's businesses and guides and supervises the Bank's management. [9], 20 year and 30 year annualized rates of return for the ADIA portfolio were 7.6% and 8.1%, respectively, as of 31 December 2010. BSc Business Finance (Lewis &Clark College, USA). The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. Emirates Investment Authority (EIA) is the only Sovereign Wealth Fund of the Federal Government of the United Arab Emirates. Each asset class has its own fund managers and in-house analysts covering it. United Arab Emirates, Emirates Investment Authority All Rights Reserved 2023, EIA launches strategy aimed at achieving UAEs development goals, Mansour bin Zayed chairs meeting of EIA Board of Directors, Mansour bin Zayed chairs EIA board meeting. 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. Copyright 2023 ADCB. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. Phone Number (971) 241-5000. ABU DHABI, Under the patronage of H.H. 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. 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. Contact Email dg_dgm@yahoo.in. Based in London, he played the lead operating role in the Firms investment in SPIE and served as chairman of the supervisory board of Rexel during CD&Rs ownership of the company from 2005 to 2014. Skilled in Real Estate & Private Equity Risk Due Dilligence. 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. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. In particular, it sets the goals, strategies and policies of the Bank. Dr. Al Jaber was appointed to the UAE cabinet in 2013, where he served as a Minister of State of the United Arab Emirates until July 2020. They are appointed by Emiri decree. 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 . Investments ADIA manages a diversified global investment portfolio across more than two dozen asset classes and sub-categories. 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. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. H.E. Delegation of authority - monitoring matters delegated to Board Committees, Management Committees and management. 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. is also the former Director General of the Executive Office of H.H. 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. 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. How satisfied are you with the overall experience on our website? Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. [10] ADIA is one of the largest sovereign wealth funds in the world. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. The firm carries out its investment program independently and without reference from the Government of Abu Dhabi. The assets of the fund are managed by the executive management team. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. [4], The operations of ADIA have historically and to the present been secretive and opaque. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . To lead the Board and ensure the effective engagement and contribution of all Directors, so that the Board may fully discharge its legal and regulatory responsibilities; To ensure effective communication with shareholders and ensure that the Board members understand the views of the major shareholders; To oversee the annual performance evaluation of the Board and individual Directors; and. All rights reserved. Get the full list, Youre viewing 5 of 8 board members. 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. General Information Description Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. The Abu Dhabi Investment Council was splintered off from the Abu Dhabi Investment Authority (ADIA) . 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). The Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. Sheikh Mohammed bin Rashid Al Maktoum. Member of the Libyan Reconciliation Commission. 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 policies please see below: The Bank's Board Secretariat and Corporate Secretariat function acts as an interface between the Board and management. Devoting his career to progress, bold ideas and teamwork, His Excellency has positioned ADIO to always seek new ideas and challenges in order to promote Abu Dhabi globally. 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. Establishment of Investment Process and Portfolio Management. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . Sheikh Zayed does not hold any external directorships. Our Corporate and Investment Banking group operates a client driven model with local and international expertise, designed to ensure our clients are set up for success and grow stronger wherever they operate . The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. 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. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. in Economics and Politics from Bristol University, and obtained an M.A. Details of all transactions where a Director and/or other related parties might have potential interests are provided to the Board for its review and approval. Details of all transactions in which a Director and/or other related parties might have potential interests are provided to the Board for its review and approval. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. 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. He has more than 16 years of banking experience, having held senior management positions with National Bank of Abu Dhabi and First Gulf Bank. 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. 13 of 2009. Abu Dhabi Fund for Development 30 6 European Investment Bank 70 14 Japan International Cooperation Agency 184 36 Government and/or Nepal Electricity Authority 71 14 Total 505 100 Source: Asian Development Bank estimates. 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. 1107 (D.D.C. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions or that the degree of compliance with the policies or procedures may deteriorate. [13] To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. Combining extensive experience in both the public and private sector, he was responsible for overseeing, developing and enhancing strategic geopolitical, social and economic partnerships with several nations. 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. 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. Al Marri held important positions in the government as a senior, top-ranking official. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. H.E. The $7 billion investment in Citigroup has lost approximately 90% of its value as of 26 November 2009, 2 years after it acquired a sizable stake in the bank. 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. Site Advisory: Fraud Warning; . He has completed a General Management Program from Harvard Business Schools and holds Bachelor in Business Administration with Honours. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. 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. According to the Sovereign Wealth Fund . We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. 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. His Excellency holds a PhD in Economics from Imperial College, London. Its investments in global real-estate at the market top in 2008 have also decreased substantially in value. 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. Experienced Specialist with a demonstrated history of working in the investment management industry. 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. Board of Directors Board of Directors Management Team Committees Documents Investors Overview About Us Financial Information Bond Information Share Information Calendar Analyst Coverage Corporate Governance Board of Directors Management Team Committees Documents Company Announcements IR Contact Investor FAQs As Chairman of the Board, H.H. 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. Al Mubarak held a number of positions at Tawazun Economic Council, formerly known as UAE Offsets Group, before assuming his current portfolio of responsibilities. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Even today, investment in short-term paper remains the strategy for the vast majority of countries. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. | Advanced search . Hareb Al Darmaki Joined the Abu Dhabi Investment Authority in June 1976 as Director, Bond & Equity Department. The Managing Director chairs the Investment Committee, which includes among its members the Executive Directors of all investment departments. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. As Chairman of the Board, H.H. MSc Computer Science (University College London, UK) In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. ABU DHABI, H.H. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. 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. Purpose Powering a thriving future by efficiently providing sustainable and reliable energy and water to unleash the unlimited potential of people and places. He was part of the high-profile team that was behind the launch of Area 2071, the nucleus of the future envisioned in the UAE Centennial Plan 2071. It often buys partial interest ownerships with leading real estate managers. 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. Executive Trainer and Life Coach, Prudential Real Estate, and Relocation, USA. He holds a Bachelors Degree in Economics from Northeastern University of Boston, Massachusetts, U.S.A. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Em. Our initial core team demonstrated a mixture of international and local investment management skills as well as in-depth industry experience and expertise. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). He started his career at Abu Dha. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. ADIA does not seek to manage or take an operational role in the companies in which it invests. 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. 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 Executive Affairs Authority of the Emirate of Abu Dhabi today announced the "Al Masdar" Initiative. ADGM has also tapped on the inherent strengths of the Abu Dhabi economy to establish an international financial centre which will stand alongside the world's leading centres, such as Hong Kong, Singapore, London and New York, operating in partnership with them. H.E. H.E. ADIA's Board of Directors meets periodically, as required for the establishment and review of ADIA's strategic policy, as part of its oversight of ADIA. 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. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Tailored induction programmes are arranged for all newly appointed Directors. 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. For over 50 years, the Group has played . 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%. This includes both developed and emerging markets, EIA has investments in the Americas, Europe, Asia and the Middle East. The board members currently serve for a period of three years, and can be renewed. The Central Bank the Central Bank provides prudential supervision of banking activities. Their most recent diversity investment was on May 6, 2021, when Charter Next Generation raised Abu Dhabi Investment Authority has had 22 exits. Mr. Mohamed Hadi Al Hussaini is the Chariman of Emirates Integrated Telecommunications Co. PSJC, and currently he sits on the board of Emirates NBD, Emirates Islamic Bank and Dubai Refreshments Company. Board papers are delivered at least 3 business days before each Board meeting. in International Studies from the John Hopkins 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. to the UAEs economy. Abu Dhabi Investment Authority has made 51 investments. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. Please refer to ADCBs annual report for further details on Directors remuneration. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. According to federal laws and the Bank's articles of association, Directors may not receive any remuneration in respect of a year where the Bank does not achieve net profits. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. Private Equity and Venture Capital, (Harvard Business School, USA) 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. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000
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