Abu Dhabi Investment Authority (ADIA) is a sovereign wealth fund based in Abu Dhabi, United Arab Emirates. 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. Investment Leadership Program (ILP) Working at EIA; Media & Resources; . In 2006, while at Mubadala, at the direction of the UAE leadership, he helped establish Masdar, Abu Dhabis pioneering renewable energy initiative, and served seven years as its CEO, guiding its global contribution to clean technology and sustainable development. Where necessary, the Committee will also consider whether the candidate meets the Bank's criteria for independence. [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). MSc Business Administration (INSEAD) Board papers are delivered at least 3 business days before each Board meeting. The Audit Committee also periodically meets separately with the Banks internal auditors and the external auditor in the absence of management. However, in 1976, Sheikh Zayed bin Sultan Al Nahyan, the founding president of the United Arab Emirates, converted it into the Abu Dhabi Investment Authority. He was also the focal point for a number of comprehensive strategic partnerships with a number of countries. The Abu Dhabi Investment Authority (ADIA) is a major purchaser of U.S. institutional real estate through various sub-entities. He also sits on a number of boards, including AXA and Emirates Post Group. Any Candidate for appointment as a Director must be pre-approved by the UAE Central Bank. Abu Dhabi Investment Authority (ADIA) is a public institution established in 1976 by the Government of the Emirate of Abu Dhabi as an independent government investment institution. It manages the Emirate's excess oil reserves and is estimated to manage $790 billion. Though it talks of its long term success in generating returns, the fact that it has moved closer to the index and manages most of its funds through external third party fund managers shows that its tolerance for risk taking is greatly diminished over the years. 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. Get the full list, Youre viewing 5 of 8 board members. H.E. H.E. 17 May, 2021. G42 is oriented to development of AI industries in the government sector, healthcare, finance, oil and gas, aviation and hospitality. The Emirates Investment Authority (EIA), an authority owned by the Federal Government, was established through Federal Decree Law No. In driving ADNOCs 2030 strategy toward a more profitable upstream, more valuable downstream and more sustainable and economic gas supply, Dr. Al Jaber has also led a digital transformation at the company. Mohammed Habroush Al Suwaidi H.E. 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. We searched for and recruited the very best people in order to drive the rapid formation and development of our fledgling investment organization. These investment departments, which invest across multiple geographies, have discretion over the origination and recommendation of investment proposals. H.E. Abu Dhabi Investment Authority is an investment management agency investing funds on behalf of the Government of Abu Dhabi. The Board of Directors and the management team regularly discuss and refine the Bank's strategy and objectives. The Executive Affairs Authority of the Emirate of Abu Dhabi today announced the "Al Masdar" Initiative. 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. 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). She has over ten years of experience in funds and direct private equity investments. Playing a role in bettering peoples lives is a great instigator for doing what he does. He is the Founding Member and Chairman of AlNowais Investments. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. 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. The IAG also oversees and conducts the Banks internal audit function. Our team helps investors and companies of all sizes establish their business, grow and develop in Abu Dhabi. In keeping with the Bank's principles of transparency, Directors may use the iPad application to view and access all documents presented to the Bank's management committees, as well as minutes of meetings of those committees. Dr. Tariq Bin Hendi was recently the Chief Investment Officer of Group 42 (G42). 4 of 2007 as amended by Federal Decree Law No. The UAE Minister of Economy holds a Bachelors degree in Civil Engineering from the University of Sheffield in the UK. Mr. Al Darmaki joined Abu Dhabi Investment Authority (ADIA) in 1976 as Director, Bond & Equity department. 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. Sheikh Sultan bin Suroor Al Dhaheri has more than 10 years experience in business and marketing and strong commercial knowledge. [6] ADIA's global portfolio is broken down into sub-funds covering a specific asset class. Mr. Quarta has been a Partner at CD&R for 21 years and is chairman of CD&R Europe. 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. This is a profile preview from the PitchBook Platform. The Banks internal control system has been designed to provide reasonable assurance to the Banks Board of Directors and shareholders. There is a clear division of responsibilities between the respective roles and responsibilities of the Chairman and the GCEO. In addition, he also served as Chairman of Waha Investment PrJSC, Waha Land LLC and Anglo Arabian Healthcare LLC). Board of directors. 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. 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. 2023 Gulf Capital. The roles of the Chairman and the GCEO are separate and each is held by a suitably experienced individual. 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. 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. However, ADIA's ratio of third-party fund managers is being actively managed. [1], ADIA's operations have been characterized as secretive and opaque. 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. ABU DHABI INVESTMENTS GROUP OUR WORK TODAY SHAPES ABU DHABI'S TOMORROWS. How satisfied are you with the overall experience on our website? Andrew Kripke Director, Portfolio Manager - US Team. The excitement of helping others achieve their goals, both big or small, is what drives him. 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. H.E. In addition, Dr. Al Jaber served as Chairman of the Abu Dhabi Ports Company from 2009-2019. Eissa Al Suwaidi holds the post of Chief Executive Officer at Abu Dhabi Investment Council, United Arab Emirates. Air Arabia Abu Dhabi is Etihad Airways' first major investment, a change from its long-held relationship strategy of airline equity partnerships. of Corrections, Colorado Springs, CO, USA. 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 July 2020, Dr Al Jaber was appointed Chairman of Emirates Development Bank, a key partner in providing financial services for the sustainable economic and social development of the UAE. Post ADIA, he established Abu Dhabi Investment Council (ADIC) in 2007 and served as its Managing Director. in Accounting from United Arab Emirates University (UAEU). Board Of Directors; CEO's Message; Staff. Kaltham is a member of the External Equities Executive Committee and before that she was a member of their Investment Committee. 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. Previously, she was Vice-Chairperson of Aldar Properties and Invest AD. 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. . Our Objectives. 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. He has led several strategic transformation projects, developing high performance businesses to achieve sustainable growth. 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. Reporting to H.H., the Managing Director his current responsibilities at ADIA include asset allocation, portfolio management and strategic decisions. [6] At the time it was novel for a government to invest its reserves in anything other than gold or short-term credit. 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. Win whats next. Dr. Al Jaber has initiated a program of increased efficiencies, strengthened ADNOCs overall performance and fostered a more commercial mindset. 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. The Board of Directors are responsible for determining the Bank's strategic direction. 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. In order to deliver against these objectives, management regurlarly develops and renews detailed strategic plans that operate across the Bank's businesses. 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. [8] Due to its size, the fund has been influential in international finance. Mr. Al Badi holds a Bachelors degree in International Relations from Lewis & Clark College. ADIAs investment departments are responsible for building investment portfolios within the parameters set for them through the asset allocation process. 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. . 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 . Tailored induction programmes are arranged for all newly appointed Directors. As the central government hub supporting investment in Abu Dhabi, we are committed to growing the emirate's private sector and diversifying its economy. is also the former Director General of the Executive Office of H.H. The solid performance of our initial portfolio as well as the rapid development of our investment platform and capability meant we were quickly entrusted by the Federal Government with further assets to manage and invest on behalf of the nation. ADIA has robust governance standards with clearly defined roles and responsibilities that ensure accountability. Get the full list, Youre viewing 5 of 98 team members. Aysha Al Hallami was elected by Abu Dhabi Investment Council to join the ADCB Board of Directors in April 2013. Governance structures in place- kick starts reputation as standard-bearer for good governance. Investment Leadership Program (ILP) Working at EIA; Media & Resources; Contact Us. 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. H.E Hareb Al Darmaki is Co-Founder and Board Chairperson of Gulf Capital. Directors are eligible to receive, and have received, loans from the Bank. H.E. The new council was established to support Abu Dhabi's competitiveness and its economic and financial sustainability. To facilitate this role, the Board Secretariat has full visibility of all management committees and activities. 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. Over this decade, AD Ports has become a thriving business, turning a profit two years ahead of the approved business plan. 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. Evaluate the effectiveness of the Banks internal control system, identifying control objectives, reviewing significant control policies and establishing relevant control procedures. 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. Number of Board Member and Advisor Profiles 3. Gains Strategic Assets: Al Masraf, Emirates Post and Emirates Transport. [12] ADIA also invests in development projects including malls. All rights reserved. Advisor to the Nigerian Minister of Communications. 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. Previously, Dr Bin Hendi was the Director General of the Abu Dhabi Investment Office (ADIO) since October 2019. 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. Number of Exits 23. Hussain Jasim Naser Al Nowais joined the ADCB Board in 2019. 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. Collectively, the Board possesses knowledge, experience and skills appropriate for the Bank. Experienced Specialist with a demonstrated history of working in the investment management industry. Prior to joining ADIO, His Excellency held leadership roles at various institutions, including Emirates NBD, Mubadala, and Citibank. Their most recent investment was on Dec 7, 2022, when Craftsman Automation raised Abu Dhabi Investment Authority has made 2 diversity investments.