abu dhabi investment authority board of directors

Get the full list, Youre viewing 5 of 98 team members. 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. Chartered Financial Analyst, (CFA Institute, USA) 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. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Ensure that effective measures are in place to safeguard the Banks assets; Ensure proper accounting records and reliable financial information by procedures designed to avoid or reduce risks and ensure compliance with applicable laws and regulations; Ensure that an adequate and effective system of internal controls and procedures is established and maintained; and. Kaltham is a member of the External Equities Executive Committee and before that she was a member of their Investment Committee. 2023 Gulf Capital. It will set financial and economic policy and will oversee the approval of strategies for a number of state-owned entities including Adnoc, Mubadala Investment Company, Abu Dhabi Investment Authority and holding company ADQ. He is former chairman of IMI plc and a former non-executive director of SPIE, BAE Systems plc, Foster Wheeler Corporation, Fondo Strategico Italiano, Equant NV, and PowerGen plc. MSc National Security and Strategic Studies (National Defense College, UAE) [11], Today ADIA invests in all the international markets equities, fixed income and treasury, infrastructure, real estate, private equity and alternatives (hedge funds and commodity trading advisers CTAs). 13 of 2009. He started his career at Abu Dhabi Investment Authority in the year 1982. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . 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 In June 2021, Aysha moved to the Abu Dhabi Investment Authoritys newly created Core Portfolio Department to help develop its comprehensive strategy. 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. It periodically reviews and monitors compliance with the Group's overall risk appetite and makes recommendations thereon to the Board. 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. To develop a constructive relationship with the GCEO and to manage his performance. 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. All rights reserved. Abu Dhabi Investment Authority has 3 board members and advisors, including Shubhrawpratap Dasgupta. Mariam Ghobash has substantial corporate governance experience with both publicly listed and private companies. 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. Aysha Al Hallami does not hold any external directorships. 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. Sheikh Mansour bin Zayed Al Nahyan,. 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. EIA invests into a globally diversified investment portfolio. Investment Stage Secondary Market. View Biography PitchBooks data visualizations help you see a limited partners commitmentsshowing a breakdown of activity by fund type and region, complete with performance metrics. The Central Bank the Central Bank provides prudential supervision of banking activities. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. 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. As Chairman of the Board, H.H. 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. Chairman of the Board of Directors of Al-Ghaith Trading and Contracting Co. LLC. 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. 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. 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. All three functions cover all banking activities in general and key risk areas in particular. His career in asset management began at Abu Dhabi Investment Authority (ADIA) in 1983, where he ultimately served as Deputy Managing Director from 1997 to 2007. Staff. Reporting to H.H., the Managing Dir. H.E. [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. 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. H.E. The IAG is responsible to ensure that all transactions undertaken by the Bank are conducted in accordance with the Banks internal procedures, and in compliance with applicable legal and regulatory requirements, thereby minimising the risk of fraudulent, improper or illegal practices. The Board's Audit Committee reviews audit reports periodically and particularly where significant violations to the applicable regulations, prescribed policies and procedures have occurred. All rights reserved. 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. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Skilled in Real Estate & Private Equity Risk Due Dilligence. BSc Finance (Suffolk University, USA). Previously, Mr. Al Darmaki held the position of Chairman at the Central Bank of the UAE, Abu Dhabi Investment Company, Abu Dhabi Securities Market, Global Investment House (Kuwait), and as a Board Member at National Bank of Abu Dhabi, Al Hilal Bank, Arab Banking Corporation and Qatar Telecom (Ooredoo). H.E is the Chairman of Emirates Water & Electricity Company and the Vice Chairman of Abu Dhabi Power Corporation and a member of the Board of Directors for Emirates Global Aluminum, Aramex Logistics Company, Minas de Aguas Teidas Copper Mine, Sociedad Minera de . 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. 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. In addition, the risk management and compliance functions monitor control activities on an ongoing basis. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. The Board of Directors of the Emirates Investment Authority consists of a group of distinguished and accomplished individuals, led by His Highness Sheikh Mansour Bin Zayed Al Nahyan as its Chairman. Assistant to the Deputy Director, Colo Dept. . Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. Abu Dhabi Investment Group (ADIG) is the investment arm of Bin Aweidha Holding and based in Abu Dhabi. The EIA was established in 2007 through Federal Decree Law No. Abu Dhabi Investment Authority - ADIA: A government-owned investment organization that manages the sovereign wealth fund for Abu Dhabi, United Arab Emirates. Contact. 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. In addition, the Board Secretariat works with various external providers to source suitable tailored training sessions. 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. H.E. BSc Computer Information Systems (Bethune Cookman College, USA). ABU DHABI, H.H. He was also responsible for all Treasury activities including Mubadalas bond issuances and project financing. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. 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. Sheikh Mohammed bin Rashid Al Maktoum. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. VICE CHAIRMAN (INDEPENDENT, NON-EXECUTIVE DIRECTOR). 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. 17 May, 2021. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. 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. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. 4 of 2007 as amended by Federal Decree Law No. 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. H.H. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed All internal control systems, no matter how well designed, have inherent limitations and they may not prevent or detect misstatements. 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. 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. 13 of 2009. Reporting to H.H., the Managing Director his current responsibilities at ADIA include. The Bank is committed to sound corporate governance practices. He also sits on a number of boards, including AXA and Emirates Post Group. [7], ADIA manages a substantial amount of capital, and is one of the world's largest investment funds. H.E. In particular, it sets the goals, strategies and policies of the Bank. 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. Saeed Mubarak Al Hajeri - Vice Chairman Chairman of Abu Dhabi National Energy Company, Executive Director & Member of Strategy Committee at Abu Dhabi Investment Authority and Member of the Editorial Advisory Board of MSCI Barra. H.H. ADIA does not seek to manage or take an operational role in the companies in which it invests. Before joining Mubadala, Carlos Obeid worked with the UAE Offset Program Bureau, where he led a wide range of initiatives including privatisation, utilities and financial services. Both loans will require onlending Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments. 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%. Almost every asset class is managed both internally and externally. The Dubai 10X initiative, in particular, aims to strengthen the emirates bid to become the city of the future. Number of Board Member and Advisor Profiles 3. Abu Dhabi Investment Authority 's most notable . 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. 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 His Excellency Mohammad Al Gergawi is the United Arab Emirates Minister of Cabinet Affairs and The Future and serves as Chairman of Dubai Governments Executive Office. 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. Board of directors. Descendant of Bin Aweidha Family which played prominent role in founding UAE Politically and Economically. [13] ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. An external auditor is appointed annually by shareholders on the recommendation of the Board of Directors. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. [13], Many of ADIA's investments have decreased substantially since investments were made at market peaks in 2007 and 2008. Telephone: +97124190000 PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi United Arab Emirates . Abu Dhabi Investment Authority's new research centre makes its debut with $100,000 award Adia Lab expected to play a proactive role in the development of the emirate's digital ecosystem The Abu Dhabi Investment Authority is capitalising on its technology and data analytics capabilities as it charts its future investment opportunities. H.E. 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. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. 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. 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. Its primary directive is to manage the sovereign wealth of the UAE by investing in a diversified portfolio of assets in key economic sectors and industries with the aim of delivering sustained financial gains for the UAE. MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Decree establishes the EIA as sole Federal investment vehicle. 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. 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.

Victoria Police Salary Sacrifice, Recent Deaths In Dickson, Tn, Marngoneet Correctional Centre Death, Stephanie Bauer Net Worth, Chris Reeve Umnumzaan Tanto, Articles A