abu dhabi investment authority board of directors

Beginning his career at the Abu Dhabi National Oil Company, H.E. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). 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. 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 The Boards Nomination, Compensation, HR & Governance Committee is responsible to ensure that independent directors remain independent on a continuous basis. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . In addition, Mr. Quarta is chairman of WPP plc and Smith & Nephew plc. Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. 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. 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. Sheikh Mansour Bin Zayed Al Nahyan Chairman H.H. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. 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. 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 ABU DHABI, H.H. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. ADIA funding sources derive from oil, especially from the Abu Dhabi National Oil Company (ADNOC). To develop a constructive relationship with the GCEO and to manage his performance. Get the full list, Youre viewing 5 of 8 board members. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. 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. Overview We are the Abu Dhabi Investment Office - ADIO. Mr. Al Darmaki is a member of the Investment, Strategy and Alpha Committees at ADIA. As Chairman of the Board, H.H. The Board maintains awareness of the other commitments of its Directors and is satisfied that these do not conflict with their duties and time commitments as Directors of 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. 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). 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. In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. 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. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. H.H. Lecturer & Head of Legal Affairs, High Commercial Institute, Kuwait, Published books on law that are adopted as text books in UAE and Kuwait University respectfully, Legal Advisor and Head of Legal Office; Ministry of Economy & Commerce, UAE, Legal Advisor of the Executive Council of the Emirate of AUH, Owner of Ghanayem Legal & Management Consultancy EST, Treasurer & Account Officer in Charge of Citibanks Financial Institutions in Dakar, Vice President Citibank Private Bank, Geneva, Managing Director Sahara Financial Management Services, Regional Director of Ecobank for Middle East, North Africa & India, Vice Chairman at Signature Africa Ventures. H.E. According to the Bank's articles of association, all Directors are required to seek re-election by shareholders every three years. 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. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). [5] The goal was to invest the Abu Dhabi government's surpluses across various asset classes, with low risk. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. ADIA's Board of Directors is responsible for setting ADIA's strategy and risk-return parameters and meets periodically to review its performance. 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. 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. The Board of Directors (the "Board") is the Bank's principal decision-making forum. H.E. Board papers are delivered at least 3 business days before each Board meeting. 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. Sheikh Mansour bin Zayed Al Nahyan,. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. Assistant to the Deputy Director, Colo Dept. Carlos Obeid is the Group Chief Financial Officer of Mubadala Investment Company PJSC and is responsible for managing the organisations Business Finance including Treasury and Investor Relations, Financial Planning and Business Performance, and Financial Governance and Reporting. The programme comprises a comprehensive Directors' induction pack, meetings with other Directors and senior management, as well as comprehensive guidance on the duties and responsibilities of Directors, the Bank's policies and procedures and relevant legal and regulatory requirements. Staff. H.E. 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. Mansour bin Zayed . [1], ADIA's operations have been characterized as secretive and opaque. 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. 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. 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. Investment Stage Secondary Market. ADIAs assets are not classified as international reserves. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. 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. ABU DHABI, H.H. Board Member of Cleveland Clinic Abu Dhabi. Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. Thomas Arnold Board Member. 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. We quickly established a formal, three-stage investment process consisting of: rigorous pre-screening and initial due diligence; followed by Investment Committee review and debate; and final investment decision-making from our Executive Committee. 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. 4 of 2007 and amended by Federal Decree Law No. Amr Al Menhali was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. H.E. Where Abu Dhabi Investment Council intends to appoint a new Director, it is required to consult with the Committee in advance of such appointment. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. 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. Private Equity and Venture Capital, (Harvard Business School, USA) Even today, investment in short-term paper remains the strategy for the vast majority of countries. The Abu Dhabi Investment Authority (Arabic: , ADIA) is a sovereign wealth fund owned by the Emirate of Abu Dhabi (in the United Arab Emirates) founded for the purpose of investing funds on behalf of the Government of the Emirate of Abu Dhabi. MSc Civil Engineering (Northeastern University, USA) The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. 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. 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. 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. 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. Mr. Al Mahmood has held senior roles at a number of companies including the Abu Dhabi Investment Authority (ADIA), and was also Chief Executive Officer, Managing Director and a board member of the development and investment company Al Qudra Holdings. Reporting to H.H., the Managing Director, his current responsibilities as Advisor Managing Director Office include portfolio management, asset allocation, strategic decisions and broad financial analysis. At EIA, we value our staff as one of our most . The Banks internal controls over financial reporting comprise processes designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with accounting principles. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. Sheikh Mansour Bin Zayed Al Nahyan is the Deputy Prime Minister and Minister of Presidential Affairs of the UAE. His Excellency holds a PhD in Economics from Imperial College, London. ABU DHABI, Under the patronage of H.H. Contact Email dg_dgm@yahoo.in. 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. The EIA was established in 2007 through Federal Decree Law No. BSc Computer Information Systems (Bethune Cookman College, USA). Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. 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 . Number of Board Member and Advisor Profiles 3. 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. As Vice Chairman and Managing Director of Dubai Future Foundation, he heads an entity tasked with implementing the Dubai Future Agenda. Al Hussaini has widespread professional experience across the banking, finance, real estate and investment sectors. Abu Dhabi Finance P.P.C is closed UAE Joint stock company headquartered in Abu Dhabi with a paid-up capital of USD ($)142,780,000. With a joint MBA from London Business School and Columbia, he then joined Mubadala in the UAE sovereign wealth sector. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. His dedication to advancing the United Arab Emirates has been demonstrated through numerous director and chairman roles in major financial institutions and government bodies: Chairperson of the Board of UAE Central Bank, Chairperson of the National Bank of Abu Dhabi, Member of the Supreme Petroleum Council, Board Member of ADIA, Chairman of Abu Dhabi National Insurance Company, Member of Allianz International Advisory Board and Chairperson of the Arab Banking Corporation. 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. H.E. Click here for Terms of Reference for the Board of Directors. All three functions cover all banking activities in general and key risk areas in particular. According to the Sovereign Wealth Fund . 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. H.E. 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. 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. is also the former Director General of the Executive Office of H.H. 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 Al Marri is a member of the Boards of Directors of different federal entities. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. The Bank is committed to sound corporate governance practices. 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. ADIAs Managing Director has responsibility for implementing ADIAs strategy and its investment and operational activities. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. Abdulla Bin Touq Al Marri was appointed Minister of Economy of the United Arab Emirates (UAE) under the new government structure approved in July . Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. 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. ADCB has implemented a Directors' conflicts of interest policy. One-third of the Board will seek re-election on an annual basis. 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. Minister of Federal Supreme Council Affairs, Executive Council Member Government of Ajman, Knowledge and Human Development Authority Government of Ajman, Board Member of the Commercial Bank International (CBI), Bin Aweidha Corporation Holding Managing Director, Market Makers Financial Advisory Managing Director, Founder and CEO of Liberal Lawyers and Legal Consultants, Member of the Board of Directors of World Investments P.S.C, Partner in Market Experts Financial Brokerage Company (LLC), Partner and Director of Gate Business Investment (LLC), Founder and Director of Al Madina Co.(Stock and Bond Broker) LLC, Member of the Board of Directors of Experience Gate Company for Management Consulting (LLC), Founder and Chairman of the Abu Dhabi Tahseel Company (LLC), Member of the Association of Emirates Safer Internet Society, Board Member of Agricultural Trading & Development Co. Ltd, Director General Airport Free Zone Authority, Board Member of UAE Football Association, Elected Member of Federal National Council (U.A.E Parliament), Member Of Arab Parliament (Cairo & Damascus), Board Member of UAE Insurance Authority, Vice Chairman of the Board of Directors of Al-Ghaith Holding Company (private shareholding), Member of the Board of Directors of Al Ain National Insurance Company, Member of the Board of Directors of the National Marine Dredging Company, Member of the National Consultative Council of Abu Dhabi, Member of the Abu Dhabi Tawteen Board of Directors, Honorary member of the Al Ain Sports and Cultural Club, Chairman of the Board of Directors of Prestige Jet Private Aviation Company, Chairman of Makasib Islamic Financial Services Board.

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