abu dhabi investment authority board of directors

abu dhabi investment authority board of directorsabu dhabi investment authority board of directors

It will be backed by a major commitment from the Authority. The Council started its operations in April 2007 and is responsible for investing part of the government's surplus financial resources through a globally diversified investment strategy, targeting positive capital returns through an expansive portfolio of highly diversified asset classes and active . Acting within authority delegated by the Board, the Board Risk Committee (BRC) has overall responsibility for oversight and review of all risk types - credit, market, operational, liquidity, fraud, reputational, etc. The Chairman's main responsibilities include: The day to day management of the Bank has been delegated by the Board to the GCEO and the senior management team. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. The Bank is subject to five main sources of regulation and supervision: Directors' remuneration is set annually by the Board following delegation from the Bank's shareholders. Both loans will require onlending He also sits on a number of boards, including AXA and Emirates Post Group. Kaltham is a member of the External Equities Executive Committee and before that she was a member of their Investment Committee. She has also successfully completed the General Management Program at Harvard Business School. 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. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. 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. H.E. 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 The assets of the fund are managed by the executive management team. The Board of Directors (the "Board") is the Bank's principal decision-making forum. Our support department structure has developed over many years to ensure that the business continues to operate efficiently at all levels in pursuit of ADIAs investment goals. 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. He is currently part of the senior management team in the Crown Prince Court, serving as the executive director of the financial affairs, overseeing the entire financial activities and strategic initiatives. The Abu Dhabi Investment Group (ADIG) is an investment arm of the Bin Aweidha Corporation Holding, Established in 1968, Based in Abu Dhabi, With Capital 1 Billion USD. in Economics and Politics from Bristol University, and obtained an M.A. [10] 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. Dr. Al Jaber continues to serve as Chairman of Masdar, guiding its strategic direction. 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. Furthermore, as a Management PHD holder, he progressed to be a leader in education, healthcare and finance. 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. of Corrections, Colorado Springs, CO, USA. 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. 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. 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. Kaltham Al Ghafli is a Senior Investment Manager in the External Equities Department in ADIA. Sheikh Mohammed bin Khalifa bin Zayed Al Nahyan H.E. BOD | Al Ramz - Al Ramz Corporation PJSC - WE LIVE BY OUR WORD 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. ADIA Lab, the independent research institute dedicated to basic and applied research in data and computational sciences, commenced operations today, the 51st National Day of the UAE.As part of its launch, the Lab announced the composition of its Advisory Board, the details of its first academic collaborations, and launched a US$ 100,000 research award. Director at Global Finance & Capital Ltd. Board Member of United Capital (ex UBA Capital). Board of Directors - Gulf Capital 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. In carrying out its audit activities and responsibilities, members of the IAG have unrestricted access to all of the Banks records (either manual or electronic), assets, physical properties and personnel, relevant to the audit. As Chairman of the Board, H.H. How satisfied are you with the overall experience on our website? Responsibility for setting our risk appetite and for the effective management of risk rests with the Board of Directors. 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. In 2009 he led Masdars efforts in the UAEs successful bid to host the headquarters of the International Renewable Energy Agency (IRENA). MSc Business Administration, minor in Management Information Systems and Strategic Planning (Widener University, USA) Compliance with anti-money laundering procedures and internal training in such procedures is also developed and administered by the Group Compliance department. H.E. Home - EIA He started his career at Abu Dhabi Investment Authority in the year 1982. 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. Any proposals for changes are considered by the Nomination, Compensation, HR & Governance Committee prior to obtaining Board and, if necessary, shareholder approvals. H.E. . Mr. Quarta also held various senior leadership positions with BTR plc and served on the board of directors. 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. 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. Dr. Al Jaber has previously served on the United Nations Secretary Generals High Level Group on Sustainable Energy for All. The Board Secretariat actively engages with the Chairman, Committee Chairman and management to ensure that agendas are appropriate and meetings are effective. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. The Committee has agreed a list of skill requirements necessary for the proper functioning of the Board as a whole. Our Objectives. View Biography 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. Fatima Al Nuaimi was appointed by the ADCB shareholders to join the ADCB Board of Directors in 2022. The Board Secretariat maintains a conflicts register that is regularly reviewed by the Nomination, Compensation, HR & Governance Committee. Thomas Arnold Board Member. 13 of 2009. Executive Director of the Institute of Multi-Cultural Studies, University of Denver, Colo, USA. Board papers are delivered at least 3 business days before each Board meeting. The Board maintains awareness of the other commitments of its Directors and senior management. ABU DHABI, H.H. Who We Are - TAQA 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. Board of Directors | Abu Dhabi Investment Council 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. Fatima graduated magna cum laude from the Higher Colleges of Technology with a B.S. Khaled H. Alkhoori was elected by ADCB shareholders to join ADCBs Board of Directors in April 2012. 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. Feedback. 2023 PitchBook. [13] The Board of Directors is responsible for Mubadala's strategic direction, oversight and corporate governance, ensuring the business delivers on the government of Abu Dhabi's development and diversification priorities. 17 May, 2021. Since January 2006, he has been the Chairman of Orient House for Development & Construction LLC. Abu Dhabi Investment Authority - Crunchbase 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. MSc Business Administration (INSEAD) 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. Furthermore, the UAE Minister of Economy, in his previous post, took part in the unveiling of the Hatta Economic Zone development project and the relaunching of the Mohammed Bin Rashid Center for Leadership Development. PO Box 3235, International Tower, ADNEC Capital Centre, Abu Dhabi 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). For over 50 years, the Group has played . All rights reserved. [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. Sheikh Mansour Bin Zayed Al Nahyan heads the Board of Directors which is responsible for overseeing the affairs of the Emirates Investment Authority. The Government of Abu Dhabi provides ADIA with funds that it has allocated for investment and are surplus to its fiscal requirements. Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. MSc International Securities Investment and Banking (University of Reading, UK) The Bank's policy is to, so far as possible, only engage in transactions with related parties (including Directors) on arm's length terms. 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. 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. Board of Directors | FAB - UAE - Bank (FAB 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. 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 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 . H.H. 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. 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. . H.E. Mr. Quarta graduated from the College of the Holy Cross. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Mr. Al Kindi received an honorary doctorate from Eastern Michigan University, where he had previously earned a B.S. 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. ADIA Lab announces Advisory Board, academic collaborations and Board Of Directors; CEO's Message; Staff. In 2013 and 2014 we were entrusted with the custody of three additional strategic assets Emirates Post, Emirates Transport and Al Masraf bank. About the Abu Dhabi Investment Office 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. Board of directors. H.E. 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. 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. Ms. Ghobash holds a Bachelor of Science in Economics from The Wharton School, University of Pennsylvania in the United States of America. 2023 Gulf Capital. [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. Abu Dhabi Investment Authority | International Forum of Sovereign H.E. EIA invests into a globally diversified investment portfolio. 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. in Accounting from United Arab Emirates University (UAEU). 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. 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. in Business Administration. Kaltham joined ADIA in 2006 as a Senior Analyst and developed extensive experience of Far East and Asia Pacific markets within external equities. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. In the context of strengthening cooperation between AAAID and Abu Dhabi Chamber of Commerce and Industry, a memorandum of understanding was signed that aimed The Board of Directors comprises a Chairman, Deputy Chairman, Managing Director and board members who are appointed by an Emiri Decree of the Ruler of the Emirate of Abu Dhabi. 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. Tailored induction programmes are arranged for all newly appointed Directors. In particular, the Bank recognizes the damage that could be created by conflicts of interest at Board level, whether disclosed or undisclosed; this includes potential conflicts with the interests of the Bank's controlling shareholder and its related parties. In particular, it sets the goals, strategies and policies of the Bank. Overseas regulators the Banks overseas operations are subject to overseas regulators and laws. 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. We also significantly expanded the international scope and reach of our investment portfolio and further developed our internal guidelines, operations, institutional functions and architecture. 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. Each asset class has its own fund managers and in-house analysts covering it. Member of President Clinton America 2000 Task Force, Washington, DC., USA, Acting Chairman and Group CEO of Midmar Holding, Johannesburg, South Africa. The core mandate of the ministry is to increase industrial competitiveness and help drive economic growth by catalyzing the diversification of the UAEs economy. 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 H.E Mohamed Hassan Alsuwaidi. Board Of Directors - EIA Private Equity and Venture Capital, (Harvard Business School, USA) His Excellency holds a PhD in Economics from Imperial College, London. Amongst other things, the Committee will consider whether the skills held by the candidate Director are suitable. He also chairs the World Government Summit, a global platform focused on shaping the future of governments. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. Board Of Directors; CEO's Message; Staff. MSc Finance & Banking (Cass Business School, City University, UK) 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. Abu Dhabi Investment Authority 211 Corniche, PO Box 3600 Abu Dhabi, United Arab Emirates Phone +971 2 415 0000 Fax +971 2 415 1000 Win whats next. Where a Director is interested, the interested Director neither participates in the discussions nor votes on such matters. Al Gergawi is also the Co-chairman of the Global Future Councils, a forward-looking think tank in cooperation with the World Economic Forum. In addition to his roles at ADIA and Gulf Capital, Mr. Al Darmaki holds multiple board roles, including Chairperson of Neue Privat Bank (Middle East), Board and Committee Member at Emirates Investment Authority. 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. Citigroup to sell equity to Abu Dhabi investors - chron.com Site Advisory: Fraud Warning; . PDF Report and Recommendation of the President to the Board of Directors Playing a role in bettering peoples lives is a great instigator for doing what he does. Please refer to ADCBs annual report for further details on Directors remuneration. A performance evaluation of the Board, Board Committees and individual Directors is conducted on an annual basis. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. 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. The board members currently serve for a period of three years, and can be renewed. 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. MSc National Security and Strategic Studies (National Defense College, UAE) 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). H.E. . Get the full list, Morningstar Institutional Equity Research, Board Member & Analyst, Internal Equities Department, Deputy Chairman of the Board of Directors. 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. Chairman of the Board of Directors of the Abu Dhabi Urban Development Co. LLC. They are appointed by Emiri decree. Abu Dhabi economy to benefit from new sustainability and renewable It often buys partial interest ownerships with leading real estate managers. The IAG performs its function in accordance with a risk-based audit methodology. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank.

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